M/i homes reports fourth quarter and year-end results

Columbus, ohio , feb. 1, 2023 /prnewswire/ -- m/i homes, inc. (nyse: mho) announced results for its fourth quarter and year ended december 31, 2022. 2022 fourth quarter results: homes delivered increased 3% to 2,384, an all-time quarterly record revenue increased 16% to an all-time quarterly record of $1.2 billion pre-tax income increased 16% to $164.2 million, a fourth quarter record net income increased 15% to $130.4 million ($4.65 per diluted share) compared to $113.4 million ($3.83 per diluted share) in 2021 results include $18.4 million of impairments ($13.9 million after tax or $0.50 per diluted share) new contracts were 985 compared to 1,744 in 2021's fourth quarter, a 44% decrease backlog sales value of $1.7 billion versus $2.4 billion last year 2022 full year results: homes delivered of 8,366 compared to 8,638 in 2021, a 3% decrease record revenue of $4.1 billion, an increase of 10% over last year record pre-tax income of $635.2 million, a 25% increase compared to $509.1 million in 2021 net income increased 24% to a record $490.7 million ($17.24 per diluted share) compared to $396.9 million in 2021 ($13.28 per diluted share) new contracts were 6,668 compared to 2021's 9,084, a 27% decrease shareholders' equity reached an all-time record of $2.1 billion, a 28% increase from a year ago, with book value per share of $75 return on equity of 27% homebuilding debt to capital ratio of 25% compared to 30% at december 31, 2021 for the fourth quarter of 2022, the company reported record net income of $130.4 million, or $4.65 per diluted share, compared to net income of $113.4 million, or $3.83 per diluted share, for the fourth quarter of 2021.
MHO Ratings Summary
MHO Quant Ranking