M/i homes reports 2021 first quarter results

Columbus, ohio, april 28, 2021 /prnewswire/ -- m/i homes, inc. (nyse:mho) announced results for the three months ended march 31, 2021. 2021 first quarter highlights: new contracts increased 49% to 3,109 contracts, an all-time quarterly record backlog units increased 68% to 5,479, an all-time quarterly record backlog sales value reached $2.4 billion, an all-time quarterly record homes delivered increased 35% to 2,019, a first quarter record revenue increased 43% to $828.8 million, a first quarter record pre-tax income increased 167% to $110.3 million, an all-time quarterly record first quarter net income of $84.9 million ($2.85 per diluted share), a 167% increase compared to $31.7 million ($1.09 per diluted share) in 2020 shareholders' equity reached an all-time record of $1.4 billion, a 30% increase from a year ago, with book value per share of $46 homebuilding debt to capital of 32% compared to 39% at march 31, 2021 for the first quarter of 2021, the company reported pre-tax income of $110.3 million and net income of $84.9 million, or $2.85 per diluted share.
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