M/I Homes (NYSE:MHO) Announces Earnings Results

Key Points

• Missed expectations: M/I Homes reported Q1 EPS of $2.55 versus a $2.64 consensus and revenue of $920.7 million versus $1.18 billion expected, with year-over-year EPS down from $3.98 and margin pressures (gross margin ~22%, pre-tax income down ~39%).
• Capital allocation and demand resilience: The company repurchased $50 million of stock and reported record shareholders' equity and book value per share of $125, while new contracts rose ~3% to 2,350 homes.
• Insider activity and analyst outlook: Insiders, including the CEO, sold shares (CEO sale ≈ $2.2M; 49,213 shares sold over 90 days; insiders own 3.6%), while analysts maintain a "Moderate Buy" consensus with an average price target of $161.67.

M/I Homes (NYSE:MHO - Get Free Report) issued its earnings results on Wednesday. The construction company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.09), FiscalAI reports. M/I Homes had a return on equity of 14.50% and a net margin of 9.12%.The company had revenue of $920.71 million for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. M/I Homes's revenue for the quarter was down 5.8% on a year-over-year basis.

M/I Homes Stock Performance

Shares of MHO opened at $133.61 on Thursday. M/I Homes has a 12-month low of $102.44 and a 12-month high of $158.92. The stock has a market cap of $3.42 billion, a P/E ratio of 9.08 and a beta of 1.77. The company has a current ratio of 8.12, a quick ratio of 1.86 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $130.89 and a two-hundred day moving average of $132.15.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MHO shares. Seaport Research Partners reissued a "neutral" rating on shares of M/I Homes in a report on Tuesday, April 7th. Citigroup reaffirmed a "market outperform" rating on shares of M/I Homes in a report on Friday, January 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of M/I Homes in a research report on Thursday, January 22nd. Oppenheimer set a $165.00 price target on M/I Homes in a research note on Friday, January 30th. Finally, Citizens Jmp started coverage on M/I Homes in a report on Wednesday, January 7th. They issued a "market outperform" rating and a $165.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.67.

Insider Activity

In related news, CEO Robert H. Schottenstein sold 14,974 shares of M/I Homes stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $146.80, for a total transaction of $2,198,183.20. Following the completion of the transaction, the chief executive officer directly owned 348,513 shares in the company, valued at $51,161,708.40. The trade was a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan E. Krohne sold 491 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $72,078.80. Following the completion of the sale, the insider directly owned 8,771 shares in the company, valued at approximately $1,287,582.80. The trade was a 5.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,213 shares of company stock worth $7,115,268 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M/I Homes

Several hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV lifted its position in shares of M/I Homes by 29.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,920 shares of the construction company's stock valued at $246,000 after acquiring an additional 441 shares in the last quarter. Summit Global Investments raised its stake in M/I Homes by 162.1% in the 4th quarter. Summit Global Investments now owns 7,959 shares of the construction company's stock valued at $1,018,000 after purchasing an additional 4,922 shares during the last quarter. Caitlin John LLC acquired a new position in M/I Homes in the 4th quarter valued at about $253,000. Vident Advisory LLC purchased a new position in M/I Homes in the 4th quarter valued at about $993,000. Finally, State of Tennessee Department of Treasury lifted its holdings in M/I Homes by 37.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 11,759 shares of the construction company's stock valued at $1,572,000 after purchasing an additional 3,180 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

Key Stories Impacting M/I Homes

Here are the key news stories impacting M/I Homes this week:

• Positive Sentiment: Company repurchased $50M of common stock and reported record shareholders’ equity and book value per share ($125), which supports buyback-driven EPS support and shareholder returns. M/I Homes Reports 2026 First Quarter Results
• Positive Sentiment: New contracts increased ~3% to 2,350 homes, indicating ongoing demand resilience in many markets despite a tougher quarter for deliveries. M/I Homes Reports 2026 First Quarter Results
• Neutral Sentiment: Earnings call highlighted a balance between operational strength and margin strain — management acknowledged cost and mix pressures while pointing to underlying demand and capital allocation priorities. M/I Homes Earnings Call Balances Strength With Margin Strain
• Neutral Sentiment: Full Q1 earnings call/transcript and company release are available for details on segment performance, land pipeline and commentary. Useful for investors wanting management color. M/I Homes, Inc. (MHO) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Q1 results missed expectations: GAAP EPS $2.55 (down from $3.98 a year ago) and revenue $920.7M — well below some analyst estimates — driving lower profitability and investor concern over near-term earnings. M/I Homes (MHO) Lags Q1 Earnings and Revenue Estimates
• Negative Sentiment: Margins compressed (gross margin ~22%) and pre-tax income declined ~39% year-over-year; deliveries were down ~3% — signs of margin and volume pressure that could weigh on near-term profitability until mix/cost issues are addressed. M/I Homes Reports 2026 First Quarter Results

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.