M/I Homes Q4 net income falls 19% to $105.3 million; 2023 EPS $16.21
M/I Homes reported fourth-quarter and full-year 2023 results on January 31, 2024. Revenue and profit fell in both periods: fourth-quarter net income dropped 19% to $105.3 million, and full-year net income declined to $465.4 million from $490.7 million, even though new contracts rose 20% for the year.
Key points
- Q4 2023 revenue was $972.6 million, down 20%; diluted EPS was $3.66 versus $4.65 a year earlier.
- Full-year 2023 revenue was $4.0 billion, a 2% decrease; net income was $465.4 million ($16.21 per diluted share) versus $490.7 million ($17.24) in 2022.
- Full-year new contracts rose 20% to 7,977, while homes delivered fell 3% to 8,112.
- Shareholders' equity reached $2.5 billion at December 31, 2023, with a homebuilding debt to capital ratio of 22%.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:38 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 31, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.