M/i homes reports 2022 second quarter results

Columbus, ohio , july 27, 2022 /prnewswire/ -- m/i homes, inc. (nyse: mho) announced results for the three and six months ended june 30, 2022. 2022 second quarter highlights: revenue increased 8% to $1.0 billion, a second quarter record pre-tax income increased 29% to $182 million, an all-time quarter record net income, an all-time quarter record, increased 27% to $137 million ($4.79 per diluted share) from  2021's $108 million ($3.58 per diluted share) homes delivered decreased 6% to 2,133 and average sales price increased 16% to $477,000 new contracts of 1,820, down 20% with average community count down 8% backlog units decreased 5% to 5,213 backlog sales value increased 9% to $2.7 billion, a second quarter record shareholders' equity reached an all-time record of $1.8 billion, a 24% increase from a year ago, with book value per share of $66 homebuilding debt to capital ratio of 28% compared to 31% at june 30, 2021 return on equity improved to 27% for the second quarter of 2022, the company reported pre-tax income of $182.2 million and net income of $136.8 million, or $4.79 per diluted share.
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