MHO Stock Recent News

M/I Homes (MHO) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

M/I Homes, Inc. (MHO) Q2 2024 Earnings Conference Call July 30, 2024 10:30 AM ET Company Participants Phil Creek - EVP and CFO Bob Schottenstein - President and CEO Derek Klutch - President, Mortgage Company Conference Call Participants Alan Ratner - Zelman & Associates Buck Horne - Raymond James Jay McCanless - Wedbush Securities Alex Barron - Housing Research Center Operator Good morning, ladies and gentlemen, and welcome to the M/I Homes Inc. Second Quarter Earnings Conference Call. At this time, all lines are in a listen-only mode.

While the top- and bottom-line numbers for M/I Homes (MHO) give a sense of how the business performed in the quarter ended June 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 $5.12 per share, beating the Zacks Consensus Estimate of $4.60 per share. This compares to earnings of $4.12 per share a year ago.

COLUMBUS, Ohio , July 30, 2024 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced results for the three and six months ended June 30, 2024. 2024  Second Quarter Highlights: Homes delivered increased 12% to 2,224 Revenue increased 9% to $1.1 billion, a second quarter record Pre-tax income increased 25% to $194.1 million, 17.5% of revenue, all-time quarterly records Net income increased 24% to an all-time quarterly record of $146.7 million ($5.12 per diluted share) Shareholders' equity reached a record $2.7 billion, a 19% increase from a year ago, with book value per share of $100 New contracts increased 3% to 2,255 Backlog sales value increased to $1.82 billion, up 3% Repurchased $50 million of common stock Return on equity of 21% The Company reported pre-tax income of $194.1 million and net income of $146.7 million ($5.12 per diluted share), both all-time quarterly records.

Get a deeper insight into the potential performance of M/I Homes (MHO) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

M/I Homes' (MHO) second-quarter 2024 performance is likely to have benefited from the lack of existing homes for sale in the market.

As of July 24, 2024, two stocks in the consumer discretionary sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The latest trading day saw M/I Homes (MHO) settling at $147.61, representing a -1.94% change from its previous close.