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

Columbus, ohio, feb. 2, 2022 /prnewswire/ -- m/i homes, inc. (nyse:mho) announced results for its fourth quarter and year ended december 31, 2021. 2021 fourth quarter results: homes delivered increased 3% to 2,316, an all-time quarterly record revenue increased 16% to an all-time quarterly record of $1.1 billion pre-tax income increased 39% to $141.4 million, an all-time quarterly record net income increased 42% to $113.4 million ($3.83 per diluted share) compared to $80.1 million ($2.71 per diluted share) in 2020 new contracts were 1,744 compared to 2,128 in 2020's fourth quarter backlog units increased 10% to 4,835, a fourth quarter record backlog sales value reached $2.4 billion, a fourth quarter record 2021 full year results: record homes delivered of 8,638, a 12% increase record revenue of $3.7 billion, an increase of 23% record pre-tax income of $509.1 million, a 64% increase compared to $310.0 million in 2020 net income increased 65% to $396.9 million ($13.28 per diluted share) compared to $239.9 million in 2020 ($8.23 per diluted share) new contracts were 9,084, a decrease of 4% when compared to the record level achieved in 2020 shareholders' equity reached an all-time record of $1.6 billion, a 29% increase from a year ago, with book value per share of $57 return on equity of 27.4% homebuilding debt to capital ratio of 30% compared to 34% at december 31, 2020 for the fourth quarter of 2021, the company reported record net income of $113.4 million, or $3.83 per diluted share.
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