M/i homes reports 2023 first quarter results

Columbus, ohio , april 26, 2023 /prnewswire/ -- m/i homes, inc. (nyse: mho) announced results for the three months ended march 31, 2023. 2023 first quarter highlights: revenue increased 16% to $1.0 billion, a first quarter record pre-tax income increased 11% to $136.0 million, a first quarter record net income increased 12% to a first quarter record $103.1 million ($3.64 per diluted share) from 2022's $91.8 million ($3.16 per diluted share) homes delivered increased 10% to 2,007 and average sales price increased 6% to $486,000 shareholders' equity reached an all-time record of $2.2 billion, a 28% increase from a year ago, with book value per share of $79 return on equity of 26% new contracts decreased 14% to 2,171 contracts backlog sales value decreased to $1.7 billion compared to $2.8 billion a year-ago for the first quarter of 2023, the company reported pre-tax income of $136.0 million and net income of $103.1 million, or $3.64 per diluted share.
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