M/I Homes Posts $66.6M Q3 Net Income
MHO is trading near its 52-week low of $116.78 (9.1% above the low) on elevated volume (2.4× avg).
Summary
M/I Homes reported third-quarter net income of $66.6 million, with earnings per share of $2.56 and adjusted EPS of $2.70, on revenue of $1.1 billion. That net income is down from the $79 million booked in Q2, when net income had already fallen 35% year over year on higher incentives and lot costs. The key question is whether the record new-contract pace from Q2 held up as the company keeps leaning on incentives to move homes. Full release details will fill in the margin picture.
At the time of this announcement, MHO was trading at $127.41 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $116.78 to $163.66. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.