M/I HOMES (MHO) Company Report

M/I Homes, Inc. announced a new share repurchase authorization, allowing the company to purchase up to $250 million of its common shares.
This new authorization replaces a prior one that had $80 million of remaining availability as of November 11, 2025.
The authorization has no expiration date and the timing and amount of any purchases will be determined at management's discretion.

Nov 12, 2025, 9:15 PM

MHO Reports Q3 2025 Results with Solid Pre-Tax Income and Record Equity

MHO

Earnings

Demand Weakening

Share Buyback

MHO reported Q3 2025 pre-tax income of $140 million and earnings per diluted share of $3.92, with total revenue decreasing 1% to $1.1 billion.
Gross margins were 23.9%, a decline of 320 basis points year-over-year, primarily due to the cost of mortgage rate buy-downs used to incentivize sales in a challenging market.
The company closed a record 2,296 homes in Q3 2025, a 1% increase year-over-year, while new home sales (contracts) decreased 6% to 1,908 homes.
MHO ended the quarter with a record $3.1 billion in equity, $734 million in cash, and a strong debt-to-capital ratio of 18%, having also increased its credit facility to $900 million.

Oct 22, 2025, 2:30 PM

MHO Reports Q3 2025 Financial Results Amidst Challenging Market

MHO

Earnings

Demand Weakening

Share Buyback

MHO reported Q3 2025 revenue of $1.1 billion, a 1% decrease compared to the prior year, with pre-tax income of $140 million (12% of revenue) and a gross margin of 24%.
The company closed a record 2,296 homes in Q3 2025, a 1% increase year-over-year, although new contracts (homes sold) decreased by 6% to 1,908 units.
Despite continued challenging market conditions and a "choppy uneven demand environment," MHO is primarily using mortgage rate buy-downs to incentivize sales, which is the main reason for the decline in gross margins.
MHO's balance sheet remains strong, ending Q3 2025 with record equity of $3.1 billion, a debt-to-capital ratio of 18%, and $734 million in cash.
The mortgage and title operations achieved a record 93% capture rate and generated $16.6 million in pre-tax income, marking a 28% increase from Q3 2024.

Oct 22, 2025, 2:30 PM

M/I Homes Reports Q3 2025 Results

MHO

Earnings

Share Buyback

Demand Weakening

M/I Homes, Inc. reported net income of $106.5 million or $3.92 per diluted share for the third quarter of 2025, on revenue of $1.1 billion, which declined 1% compared to the prior year.
Homes delivered increased 1% to a third-quarter record of 2,296 units, while new contracts decreased 6% to 1,908 during the same period.
As of September 30, 2025, shareholders' equity reached a record $3.1 billion, with book value per share increasing to a record high of $120.
The company repurchased $50 million of common stock and maintained a strong financial position, including a homebuilding debt-to-capital ratio of 18% and a net debt-to-capital ratio of negative 1%.

Oct 22, 2025, 11:30 AM

M/I Homes Amends Credit Agreement, Increasing Commitments and Extending Maturity

MHO

Debt Issuance

M/I Homes, Inc. executed a Seventh Amendment to its unsecured revolving credit facility on September 18, 2025, increasing commitments from $650.0 million to $900.0 million and extending the maturity to September 18, 2030.
The amended facility includes an accordion feature, allowing for an increase in maximum borrowing availability to $1.05 billion.
The amendment also reduced the SOFR margin to 150 basis points from 175 basis points and decreased the commitment fee by 5 basis points to 25 basis points, both subject to leverage ratio adjustments.
As of June 30, 2025, there were no borrowings outstanding and $88.5 million in letters of credit outstanding under the Credit Agreement.

Sep 19, 2025, 11:48 AM

M/I Homes Extends Credit Facility and Increases Borrowing Capacity

MHO

Debt Issuance

New Projects/Investments

M/I Homes, Inc. has amended its credit agreement, increasing borrowing availability from $650 million to $900 million.
The maturity of the credit facility has been extended to September 2030.
At the closing date of the amendment, there were no borrowings outstanding under the credit facility.
As of June 30, 2025, M/I Homes reported a strong financial condition with $800 million in cash, a homebuilding debt-to-capital ratio of 18%, and a net debt-to-capital ratio of negative 3%.