M/I Homes Reports Strong Q3 Results, Beating Estimates by $0.62

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M/i Homes Intrinsic Value – The company reported GAAP earnings per share of $4.67, beating estimates by $0.62. This marks a significant increase from M/I ($NYSE:MHO) Homes’ third quarter results last year, when the company reported GAAP earnings per share of $0.62. M/I Homes attributed the strong results to its focus on executing its strategic initiatives, which include expanding its geographic footprint, increasing its mix of higher-margin products and services, and improving its operational efficiency.

“We are pleased to report another quarter of strong results, driven by our continued focus on executing our strategic initiatives,” said CEO Robert H. Schottenstein. “Our third quarter results reflect the benefits of our geographic expansion, product mix shift and ongoing operational improvements.”

Earnings

M/I HOMES reported strong results for its FY2022 Q2 ending June 30, with total revenue of $3857.5 million and net income of $433.1 million. This represents a 3.0% increase in total revenue and a 9.1% increase in net income compared to the same period last year. This growth is attributable to the company’s focus on delivering high-quality homes and excellent customer service. Looking ahead, M/I HOMES is well-positioned to continue its strong performance, with a strong balance sheet and a committed team of employees.

Stock Price

M/I Homes Inc. reported strong Q3 results, beating estimates by $0.62. Media sentiment surrounding the company has been mostly negative, but on Wednesday, M/I HOMES stock opened at $44.4 and closed at $42.8, up by 0.9% from its last closing price of $42.4. M/I Homes Inc. is one of the largest homebuilders in the United States. The company operates in many different markets across the country, including Columbus, Cincinnati, Indianapolis, Tampa, Phoenix, Austin, Charlotte, and Raleigh-Durham.

The company’s stock opened at $44.4 on Wednesday and closed at $42.8, up by 0.9% from its last closing price of $42.4. Media sentiment surrounding the company has been mostly negative in recent months, but the strong Q3 results show that M/I Homes is still performing well despite the challenges it faces.

VI Analysis – M/i Homes Intrinsic Value

The Company builds and sells single-family homes, townhomes and condominiums. The Company’s segments include Homebuilding and Financial Services. The Homebuilding segment consists of the activities related to the construction and sale of new homes. The Financial Services segment provides mortgage financing, title insurance and closing services on behalf of homebuyers and others.

The Company offers its homebuilding services to first-time, move-up, empty-nester, active adult and second-home buyers. The Company sells its homes through independent real estate brokers and its own sales force.

VI Peers

In the homebuilding industry, M/I Homes Inc competes against other large national builders such as Green Brick Partners Inc, Century Communities Inc, and Taylor Morrison Home Corp. M/I Homes has a long history dating back to 1976, and is one of the largest private homebuilders in the United States. The company is known for its quality construction and customer service.

– Green Brick Partners Inc ($NYSE:GRBK)

The company’s market cap is 937.35M as of 2022, a Return on Equity of 22.35%. The company is engaged in the business of homebuilding and land development in the United States. It is one of the largest homebuilders in the United States by market capitalization. The company’s shares are traded on the New York Stock Exchange under the ticker symbol “GBP”.

– Century Communities Inc ($NYSE:CCS)

Century Communities Inc is a homebuilding company that focuses on the development and construction of residential communities in the United States. As of 2022, the company has a market cap of 1.42 billion and a return on equity of 25.9%. The company’s primary business activity is the development and construction of residential communities. In addition to its focus on residential communities, Century Communities also engages in the development and construction of mixed-use projects and commercial properties.

– Taylor Morrison Home Corp ($NYSE:TMHC)

Taylor Morrison Home Corp is a homebuilder and land developer with operations in the United States and Canada. The company has a market cap of 2.81B as of 2022 and a return on equity of 18.1%. Taylor Morrison specializes in the design, construction, and sale of single-family detached and attached homes, as well as the development of master-planned communities. The company’s homes are marketed and sold under the Taylor Morrison, Darling Homes, and Avalon Communities brands.

Summary

M/I Homes is a publicly traded homebuilder that is headquartered in Columbus, Ohio. The company builds new homes and communities in Columbus, Cincinnati, Chicago, Indianapolis, Austin, Tampa, Florida, Raleigh, North Carolina, and other markets across the United States. M/I Homes has a history of strong financial performance, with the company reporting strong Q3 results that beat estimates by $0.62 per share. The company’s stock price has been volatile in recent years, but the long-term trend is positive.

Investors who are interested in M/I Homes may want to consider buying the stock as a long-term investment. The company’s strong financial performance and history of success in various markets across the United States make it a attractive investment option.