M/i homes reports 2021 second quarter results and $100 million share repurchase authorization

Columbus, ohio, july 28, 2021 /prnewswire/ -- m/i homes, inc. (nyse:mho) announced results for the three and six months ended june 30, 2021, and a $100 million share repurchase authorization. 2021 second quarter highlights: new contracts were 2,267, a second quarter record backlog units increased 49% to 5,488, an all-time record backlog sales value reached $2.5 billion, an all-time record homes delivered increased 23% to 2,258, an all-time quarterly record revenue increased 35% to $961.0 million, an all-time quarterly record pre-tax income increased 97% to $141.3 million, an all-time quarterly record net income of $107.6 million ($3.58 per diluted share), a 97% increase compared to $54.5 million ($1.89 per diluted share) in 2020 shareholders' equity reached an all-time record of $1.5 billion, a 34% increase from a year ago, with book value per share of $50 homebuilding debt to capital of 31% compared to 37% at june 30, 2020 return on equity improved to 27% for the second quarter, pre-tax income increased 97% to a record $141.3 million and net income increased 97% to $107.6 million, or $3.58 per diluted share.
MHO Ratings Summary
MHO Quant Ranking