M/I Homes posts record Q1 2024 net income of $138.1 million, up 34%
M/I Homes reported first-quarter 2024 results for the three months ended March 31, with revenue up 5% to $1.05 billion and net income up 34% to $138.1 million, or $4.78 per diluted share, all described by the company as first-quarter records. Shareholders' equity rose 21% from a year earlier to $2.6 billion, and new contracts increased 17%, which points to continued demand for its homes.
Key points
- Net income rose 34% to $138.1 million, or $4.78 per diluted share, versus $3.64 a year earlier
- Revenue rose 5% to $1.05 billion; homes delivered rose 8% to 2,158
- New contracts rose 17% to 2,547; cancellation rate fell to 8% from 13%
- Shareholders' equity reached $2.6 billion, or $95.09 book value per share, at March 31, 2024
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 April 24, 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.