M/I Homes Reports Better Than Expected Non-GAAP EPS and Revenue for Q2
M/I Homes (NYSE: MHO) reported second-quarter results that exceeded expectations. The company's non-GAAP earnings per share came in at $3.14, surpassing estimates by $0.01. Additionally, revenue reached $1.06 billion, beating forecasts by $10 million despite a year-over-year decline of 8.6%. New home contracts rose to a record level for the quarter with an increase of 15% to 2,387 units. However, homes delivered fell by 6% compared to last year's second-quarter total, ending at 2,206 units. The mixed performance highlights both strong demand and ongoing challenges in home completions within the housing sector.
Tickers: $MHO
Topics: financial_results homebuilding real_estate