Description

M/I Homes Inc. Sells 2,387 Homes as Revenue Falls 9% — A Pivotal Disconnect!

M/I Homes reported solid second quarter and year-to-date results despite ongoing macroeconomic challenges, including elevated interest rates, economic uncertainty, and geopolitical tensions. The company achieved a record 2,387 homes sold in the quarter—a 15% increase compared to the prior year—and 4,737 homes sold in the first half of 2026, marking an 8% rise year-over-year. However, closed home deliveries declined by 6% for the quarter and 5% for the six-month period compared to the previous year. Revenue for the quarter was $1.1 billion, down 9%, reflecting fewer deliveries and a lower average sales price. Despite this, the second-quarter pretax income reached $105 million, representing 10% of revenue, though this was down 35% from the prior year. Pretax income for the first half was $194 million, maintaining the same 10% pretax margin. The company achieved a 10% return on equity in the second quarter. Gross margins for the quarter were 22.