M/I Homes, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 10:15 am EDT
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M/I Homes, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1,046.37 million compared to USD 1,012.93 million a year ago. Net income was USD 139.02 million compared to USD 131.59 million a year ago. Basic earnings per share from continuing operations was USD 4.98 compared to USD 4.76 a year ago. Diluted earnings per share from continuing operations was USD 4.82 compared to USD 4.67 a year ago.
For the nine months, revenue was USD 3,060.91 million compared to USD 2,914.39 million a year ago. Net income was USD 360.08 million compared to USD 360.27 million a year ago. Basic earnings per share from continuing operations was USD 12.97 compared to USD 12.86 a year ago. Diluted earnings per share from continuing operations was USD 12.58 compared to USD 12.59 a year ago.
M/I Homes, Inc. is a builder of single-family homes. The Company designs, markets, constructs and sells single-family homes and attached townhomes to first-time, move-up, empty-nester, and luxury buyers. The company primarily constructs homes in planned development communities and mixed-use communities. It offers homes for sale in approximately 213 communities within 17 markets located in 10 states. The Company operates through two distinct operations: homebuilding and financial services. Its homebuilding operations are aggregated for reporting purposes into two reporting segments: the Northern and Southern regions. Its homebuilding division is engaged in the sale and construction of single-family attached and detached homes, acquisition and development of land, and the occasional sale of lots to third parties. Its financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations.