M/I Homes Reports Q1 Revenue and Pre-Tax Income Declines Amid Margin Pressures
M/I Homes reported Q1 revenue of $921 million and pre-tax income of $89.2 million, down 6% and 39% year-over-year, respectively, due to higher incentives and lot costs. The company maintained a strong balance sheet with record shareholders' equity and a robust land position, but faced challenges from affordability pressures and mortgage rate volatility.
Topics: Balance Sheet Earnings Housing Market M/I Homes Margins Profit Revenue