M/I Homes (MHO) Stock

M/I Homes faces business challenges due to high mortgage rates, pressuring demand and margins forcing the use of rate buydowns as a key strategy. Q4 sequential results showed decelerating sales, increased rate buydowns, and gross margin compression, indicating potential challenges for 2025. The potential for rising land and labor costs, coupled with cautious share repurchase plans, add further pressure on MHO's future performance and investor sentiment.

M/I Homes, Inc. (MHO) Q4 2024 Earnings Call January 29, 2025 10:30 AM ET Company Participants Phil Creek - Chief Financial Officer Bob Schottenstein - President and Chief Executive Officer Derek Klutch - President Conference Call Participants Alan Ratner - Zelman & Associates Ken Zener - Seaport Research Partners Buck Horne - Raymond James Jay McCanless - Wedbush Operator Good morning, ladies and gentlemen and welcome to the M/I Homes Fourth Quarter and Year End Earnings Conference Call. [Operator Instructions] This call is being recorded on Wednesday, January 29 of 2025.

While the top- and bottom-line numbers for M/I Homes (MHO) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

M/I Homes (MHO) came out with quarterly earnings of $4.71 per share, missing the Zacks Consensus Estimate of $4.83 per share. This compares to earnings of $3.66 per share a year ago.

COLUMBUS, Ohio , Jan. 29, 2025 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced results for its fourth quarter and year ended December 31, 2024. 2024  Fourth Quarter Results: Record fourth quarter homes delivered and income New contracts increased 11% to 1,759 Homes delivered increased 19% to 2,402 Revenue of $1.2 billion, up 24% Pre-tax income of $171 million, up 24% Net income increased 27% to $133.5 million ($4.71 per diluted share) compared to $105 million ($3.66 per diluted share) in 2023 Repurchased $50 million of stock 2024  Full Year Results: Record homes delivered, revenue and income New contracts increased 8% to 8,584 Homes delivered increased 12% to 9,055 Revenue increased 12% to $4.5 billion Pre-tax income increased 21% to $734 million; 16% of revenue Net income increased 21% to $564 million ($19.71 per diluted share) Shareholders' equity reached an all-time record of $2.9 billion, a 17% increase from a year ago, with book value per share of $109 Repurchased $176 million of stock Return on equity of 21% Homebuilding debt to capital ratio of 19% compared to 22% at December 31, 2023 For the fourth quarter of 2024, the Company reported net income of $133.5 million, or $4.71 per diluted share, compared to net income of $105.3 million, or $3.66 per diluted share, for the fourth quarter of 2023.

In the latest trading session, M/I Homes (MHO) closed at $135.50, marking a -0.76% move from the previous day.

M/I Homes (MHO) reachead $137.68 at the closing of the latest trading day, reflecting a +0.48% change compared to its last close.

In the most recent trading session, M/I Homes (MHO) closed at $127.88, indicating a +0.88% shift from the previous trading day.

M/I Homes (MHO) closed at $131.95 on the most recent trading day, showing an increase of 0.96% from its previous closing price.