Every material Form 8-K M/I Homes filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
M/I Homes reported results for the three and nine months ended September 30, 2024. Third-quarter revenue rose 9% to $1.1 billion, and net income rose 5% to $145.4 million, or $5.10 per diluted share, with pre-tax income, net income and homes delivered all described as third-quarter records. Nine-month net income reached a record $430.3 million, and the company repurchased $50 million of common stock during the quarter.
Revenue rose 9% to $1.1 billion, and homes delivered rose 8% to 2,271 in the third quarter.
Net income rose 5% to $145.4 million, or $5.10 per diluted share, compared with $4.82 a year earlier.
Shareholders' equity reached a record $2.8 billion, with book value of $105 per share, and the company repurchased $50 million of common stock.
Backlog units fell 8% to 3,174 homes at September 30, 2024, and backlog sales value fell 1% to $1.73 billion.
M/I Financial, a subsidiary of M/I Homes, amended its mortgage repurchase facility with JPMorgan Chase Bank, N.A. as administrative agent, extending the term to the earlier of October 21, 2025 or an earlier termination by a governmental order or operation of law. The amendment sets a maximum aggregate commitment of $300 million, and the filing says other material terms are unchanged. The facility finances eligible mortgage loans originated by M/I Financial, so the change maintains that funding source for the company's lending arm.
Amendment dated October 22, 2024 to the Master Repurchase Agreement dated October 24, 2023 with JPMorgan Chase Bank, N.A. as administrative agent
Facility term extended to the earlier of October 21, 2025 or earlier termination by a governmental order or operation of law
Maximum aggregate commitment set at $300 million; other material terms remain unchanged
M/I Homes reported results for the three and six months ended June 30, 2024. Second-quarter revenue rose 9% to $1.1 billion and net income rose 24% to $146.7 million, or $5.12 per diluted share, both described by the company as all-time quarterly records. The company also repurchased $50 million of common stock during the quarter.
Q2 2024 net income of $146.7 million, or $5.12 per diluted share, versus $118.0 million, or $4.12 per diluted share, in Q2 2023
Homes delivered rose 12% to 2,224 and revenue rose 9% to $1.1 billion
Pre-tax income rose 25% to $194.1 million, 17.5% of revenue
Six-month net income was $284.8 million, or $9.90 per diluted share, versus $221.1 million, or $7.77, a year earlier
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.
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
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.
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%.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every M/I Homes filing is on SEC EDGAR ↗. 8-K briefs of other companies →