M/i homes reports third quarter results and announces entry into nashville market

Columbus, ohio, oct. 27, 2021 /prnewswire/ -- m/i homes, inc. (nyse:mho) announced results for the three and nine months ended september 30, 2021. 2021 third quarter highlights: revenue increased 7% to a third quarter record of $904.3 million pre-tax income increased 22% to $116.2 million, a third quarter record, inclusive of a $9.1 million charge for early extinguishment of debt ($0.24 per diluted share) net income of $91.0 million ($3.03 per diluted share), a 24% increase compared to $73.5 million ($2.51 per diluted share) in 2020 return on equity of 27% homes delivered decreased 4% to 2,045 new contracts were 1,964, a 33% decrease; community count down 15% at quarter end backlog units increased 20% to 5,407, a third quarter record backlog sales value increased 40% to $2.5 billion, an all-time record shareholders' equity reached an all-time record of $1.5 billion, a 31% increase from a year ago, with book value per share of $53 homebuilding debt to capital of 31% compared to 36% at september 30, 2020 for the third quarter, pre-tax income increased 22% to a record $116.2 million and third quarter net income increased 24% to $91.0 million, or $3.03 per diluted share.
MHO Ratings Summary
MHO Quant Ranking