M/I Homes Q1 net income falls to $68 million as revenue declines 6%
M/I Homes reported first-quarter 2026 results, with revenue down 6% to $921 million and net income of $68 million ($2.55 per diluted share), compared with $111 million ($3.98 per diluted share) a year earlier. New contracts rose 3% to 2,350 homes, but homes delivered fell 3%, and the company repurchased $50 million of common stock, which matters to shareholders because profit fell while the company's equity reached a record $3.2 billion.
Key points
- Revenue declined 6% to $921 million; homes delivered fell 3% to 1,914.
- Net income was $68 million ($2.55 per diluted share), versus $111 million ($3.98 per diluted share) in the first quarter of 2025.
- New contracts rose 3% to 2,350; backlog sales value was $1.20 billion, down 23% from a year earlier.
- Shareholders' equity reached a record $3.2 billion, and the company repurchased $50 million of common stock.
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing 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 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.