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M/I Homes (MHO)
NYSE:MHO
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Earnings Data
Report Date
Jan 29, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$4.83Last Year’s EPS
$3.66Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -12.69%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with record revenues and home deliveries, as well as robust results from the mortgage division. However, the company faced challenges from fluctuating interest rates, natural disasters affecting Florida operations, and increased SG&A expenses. Despite these challenges, the company's strategic community expansion and solid balance sheet position it well for future growth.Company Guidance
In the third quarter of 2024, M/I Homes reported robust performance metrics despite facing macroeconomic challenges, including fluctuating interest rates and hurricanes in Florida, which accounts for 20% of their business. They achieved record deliveries of 2,271 homes, an 8% increase from the previous year, and year-to-date closings of 6,653 homes, marking a 9% rise. Revenue also hit a record $1.1 billion, up 9% year-over-year, with gross margins at a third-quarter record of 27.1%. The company delivered strong returns with a pretax income increase of 6% to $188.7 million and a return on equity of 20%. Their financial strength is highlighted by a cash balance of $720 million, no borrowing under their $650 million credit facility, and a debt-to-capital ratio of 20%. They also reported significant activity in their Mortgage and Title operations with a 31% increase in pretax income. M/I Homes remains optimistic about future growth, with plans to expand community count by 5% for 2024 and beyond.Record Revenue and Home Deliveries
The company achieved record revenue of $1.1 billion in Q3, a 9% increase from last year, and delivered a record 2,271 homes, an 8% increase year-over-year.
Strong Financial Performance
Pretax income reached a record $188.7 million, a 6% increase, with a 20% return on equity and a book value per share of $105, up 20% from last year.
Robust Mortgage and Title Operations
The mortgage division saw a 31% increase in pretax income, reaching $12.9 million, and a 27% increase in revenue to $30 million.
Solid Balance Sheet
The company ended Q3 with $720 million in cash, no borrowings under the $650 million credit facility, and a debt-to-capital ratio of 20%, down from 22% last year.
Strategic Community Expansion
The average community count for 2024 is expected to be 5% higher than 2023, with plans to open new communities in 2025.
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MHO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MHO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $153.45 | $153.00 | -0.29% |
| Jul 30, 2024 | $166.67 | $167.60 | +0.56% |
| Apr 24, 2024 | $119.47 | $122.42 | +2.47% |
| Jan 31, 2024 | $135.11 | $127.42 | -5.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does M/I Homes (MHO) report earnings?
M/I Homes (MHO) is schdueled to report earning on Jan 29, 2025, Before Open Not Confirmed.
What is M/I Homes (MHO) earnings time?
M/I Homes (MHO) earnings time is at Jan 29, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MHO EPS forecast?
MHO EPS forecast for the fiscal quarter 2024 (Q4) is $4.83.
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