MHO

Interested in M/I Homes, Inc.? Here are five stocks we like better. Demand remained resilient: M/I Homes reported record second-quarter new contracts, with home sales up 15% year over year to 2,387 despite higher mortgage rates and economic uncertainty. The average sales pace improved to 3.4 homes per community, while the cancellation rate was 8%. Profitability declined: Revenue fell 9% to $1.1 billion, pretax income dropped 35% to $105 million, and diluted EPS decreased to $3.02 from $4.42. Gross margin was 22.1%, pressured by inventory charges and continued reliance on mortgage-rate buydowns. Balance sheet remained strong: The company ended the quarter with $736 million in cash, no revolver borrowings, an 18% debt-to-capital ratio and $3.2 billion in equity. M/I Homes also repurchased $50 million of stock and maintained a land position exceeding 49,000 owned and controlled lots. KB Home Constructs Bullish Price Action As Wider Industry Thrives M/I Homes (NYSE:MHO) reported record second-quarter new contracts as demand increased despite higher mortgage rates, economic uncertainty and what management described as a choppy housing market. The homebuilder sold 2,387 homes during the quarter, a 15% increase from a year earlier, while first-half sales rose 8% to 4,737 homes. “Despite continued challenges in the broader economy, choppy demand, economic uncertainty, rising interest rates, and the impact of the conflict in the Middle East, we are very proud of our results,” Chairman, President and CEO Bob Schottenstein said during the company’s earnings call. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Will Fed Rate-Hike Pause Lead To Small-Cap Outperformance? Second-quarter pretax income totaled $105 million, down 35% from the prior-year period, while pretax income as a percentage of revenue was 10%. Revenue declined 9% to $1.1 billion as deliveries fell and the company’s average sale price decreased. Diluted earnings per share fell to $3.02 from $4.42 a year earlier. M/I Homes said its monthly sales pace averaged 3.4 homes per community in the second quarter, compared with 3.0 homes per community a year earlier. Its cancellation rate was 8%, and 50% of second-quarter sales were to first-time buyers. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now The company ended the quarter with 234 active communities, unchanged from a year earlier. It opened 27 communities and closed 23 during the quarter, and management expects average community count in 2026 to rise about 5% from the prior year. Sales growth occurred across both major regions. New contracts increased 16% in the northern region and 14% in the southern region, with the Carolinas posting the largest increase. Schottenstein identified Columbus, Chicago, Minneapolis, Raleigh and Charlotte as leading divisions during the quarter. He said the Midwest performed strongly, Texas sales improved, and Florida sales were also higher. → 3 Value ETFs to Consider as Growth Stocks Lag Behind At the same time, deliveries declined 6% to 2,206 homes. Northern-region deliveries fell 8% and represented 40% of the total, while southern-region deliveries declined 5% and accounted for the remaining 60%. The company saw a modest shift toward move-up buyers. Its Smart Series homes, the company’s most affordable product line and one aimed primarily at first-time buyers, represented 43% of sales, compared with 52% a year earlier. Schottenstein said the change reflected both somewhat stronger demand for move-up homes and the company’s efforts over the past 18 to 24 months to identify more move-up opportunities in select markets. “Some of the more high-priced or move-up land opportunities penciled better in terms of underwriting,” Schottenstein said, adding that certain smaller and infill sites could support attractive returns. Second-quarter gross margin was 22.1%, including $4 million of inventory charges. Excluding those charges, gross margin was 22.5%, slightly above the first-quarter level. Chief Financial Officer Phil Creek said construction costs declined modestly from the first quarter and cycle times improved by several days. Management said mortgage-rate buydowns remained its primary sales incentive. Schottenstein said the company expects to continue promoting rate buydowns given the current interest-rate environment, while emphasizing that location and product quality remain the main drivers of sales performance. “If it weren’t for mortgage rate buydowns industry-wide … the sales environment would be bleak,” Schottenstein said. “The primary driver for our sales is our well-located communities.” Approximately 78% of second-quarter sales were spec homes, consistent with the first quarter. Of the homes delivered during the quarter, 42% were inventory homes that were both sold and delivered in the same period. Management said margins on to-be-built homes are generally higher than spec-home margins, although the difference varies by market. M/I Homes ended the quarter with 510 completed inventory homes and 2,839 total inventory homes, compared with 586 completed homes and 2,726 total inventory homes a year earlier. Creek said improved construction cycle times have helped the company manage spec inventory levels. SG&A expense increased 3% from a year ago and represented 12.6% of revenue, versus 11.3% in the prior-year quarter. Creek attributed the increase primarily to new community openings, a 3% increase in headcount, and higher spending on sales, advertising and customer leads. M/I Financial generated pretax income of $14.4 million, nearly unchanged from $14.5 million in the prior-year quarter. Revenue rose 3% to $32.3 million, helped by a higher average loan amount and slightly higher margins on loans sold, partially offset by fewer loan originations. Mortgage operations captured a record 96% of the company’s homebuilding business, up from 92% a year earlier. Loans originated declined 3% to 1,817, while loan-sale volume increased 6%. The average mortgage amount rose to $405,000 from $403,000. Average buyer credit scores were 748, and average down payments were approximately 15%. Schottenstein said the company’s government-backed spec-home mortgage program was offering rates slightly below 5% for 30-year fixed loans, while conventional spec and longer-term rate-lock programs were slightly above 5%. Management said it expects solid performance in Columbus, Cincinnati, Indianapolis, Chicago, Minneapolis, Orlando, Dallas, Charlotte and Raleigh. Tampa and Sarasota remain more challenged by local macroeconomic conditions, while Austin is improving after a weaker period, according to Schottenstein. The newer Nashville and Fort Myers/Naples operations are gaining traction but currently weigh on earnings as they build scale. The company owned approximately 23,500 lots at quarter-end, representing about a two-and-a-half-year supply, and controlled another 25,700 lots through option contracts. Its total owned and controlled lot position exceeded 49,000 lots, or roughly a five-year supply. M/I Homes spent $131 million on land purchases and $155 million on land development during the quarter. Unsold land investment totaled $1.9 billion, up from $1.7 billion a year earlier. Management said it is seeing more finished-lot opportunities in many markets from sellers, other builders and land bankers. The company ended the quarter with $736 million in cash and no borrowings under its $900 million unsecured revolving credit facility. Equity reached a record $3.2 billion, and book value per share rose $11 from a year earlier to $128. Its debt-to-capital ratio was 18%, while net debt-to-capital was negative 1%. M/I Homes repurchased $50 million of stock during the quarter and had $120 million remaining under its board authorization. Since 2022, the company has repurchased 19% of its outstanding shares. Schottenstein said the company remains confident in long-term housing fundamentals but is focused on maintaining balance-sheet strength amid uncertainty over interest rates, consumer confidence and broader economic conditions. M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations. In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "M/I Homes Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

M/I Homes (MHO) came out with quarterly earnings of $3.14 per share, missing the Zacks Consensus Estimate of $3.17 per share. This compares to earnings of $4.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -0.95%. A quarter ago, it was expected that this homebuilder would post earnings of $2.64 per share when it actually produced earnings of $2.55, delivering a surprise of -3.41%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. M/I Homes, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $1.06 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.46%. This compares to year-ago revenues of $1.16 billion. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. M/I Homes shares have added about 18.9% since the beginning of the year versus the S&P 500's gain of 8.5%. While M/I Homes has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for M/I Homes was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.39 on $1.1 billion in revenues for the coming quarter and $12.60 on $4.2 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Toll Brothers (TOL), has yet to report results for the quarter ended July 2026. This home builder is expected to post quarterly earnings of $2.90 per share in its upcoming report, which represents a year-over-year change of -22.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Toll Brothers' revenues are expected to be $2.6 billion, down 11.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report M/I Homes, Inc. (MHO) : Free Stock Analysis Report Toll Brothers Inc. (TOL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

COLUMBUS, Ohio, July 29, 2026 /PRNewswire/ -- M/I Homes, Inc. (NYSE: MHO) announced results for the three and six months ended June 30, 2026. 2026 Second Quarter Results: New contracts increased 15% to 2,387, a second quarter record Homes delivered decreased 6% to 2,206 Revenue declined 9% to $1.1 billion Gross margin of 22% Pre-tax income of $105 million, including inventory charges of $4 million, 10% of revenue, down 35% Net income of $79 million ($3.02 per diluted share) versus $121 million ($4.42 per diluted share) Shareholders' equity reached a record $3.2 billion, with book value per share increasing to a record $128 Repurchased $50 million of common stock Return on equity of 10% Homebuilding debt to capital ratio of 18% The Company reported pre-tax income of $104.6 million and net income of $79.1 million ($3.02 per diluted share). These results include pre-tax inventory charges of $4.2 million ($0.12 per diluted share). This compares to pre-tax income of $160.1 million and net income of $121.2 million, or $4.42 per diluted share, for the second quarter of 2025. For the six months ended June 30, 2026, pre-tax income was $193.7 million and net income was $146.9 million, or $5.57 per diluted share. This compared to pre-tax income of $306.2 million and net income of $232.5 million, or $8.40 per diluted share, for the same period of 2025. Homes delivered in 2026's second quarter decreased 6% to 2,206 homes. This compares to 2,348 homes delivered in 2025's second quarter. Homes delivered for the six months ended June 30, 2026 were 4,120 compared to 2025's deliveries of 4,324 for the six months ended June 30, 2025, a decrease of 5%. New contracts increased 15% to a record 2,387 for the second quarter of 2026 compared to 2,078 in last year's second quarter. For the first half of 2026, new contracts were 4,737 compared to 4,370 in 2025, an increase of 8%. Homes in backlog at June 30, 2026 had a total sales value of $1.31 billion, an 8% decrease from a year ago. Backlog units at June 30, 2026 decreased 6% to 2,426 homes, with an average sales price of $538,000. At June 30, 2025, backlog sales value was $1.43 billion, with backlog units of 2,577 and an average sales price of $553,000. M/I Homes had 234 communities at both June 30, 2026 and 2025. The Company's cancellation rate was 8% in the second quarter of 2026 compared to 13% in the second quarter of 2025. Robert H. Schottenstein, Chief Executive Officer and President, commented, "We delivered solid second quarter results despite continued challenging market conditions. Highlights included a second quarter record of 2,387 new contracts, gross margins of 22%, a pre-tax margin of 10% and a return on equity of 10%." Mr. Schottenstein added, "Notwithstanding current market conditions, we are confident in the long-term fundamentals of the housing industry and in our ability to navigate this uncertain environment. Our financial condition is excellent, highlighted by S&P's recent upgrade of our credit rating to BB+. We have a very strong balance sheet with record shareholders' equity of $3.2 billion, no borrowings under our $900 million unsecured credit facility, cash of $736 million, a homebuilding debt-to-capital ratio of 18%, and a net debt-to-capital ratio of negative 1%. Given the quality of our geographic footprint, the diversity of our product offering and continued focus on well-located communities, we are well positioned to have a solid 2026." The Company will broadcast live its earnings conference call today at 10:30 A.M. Eastern Time. To listen to the call live, log on to the M/I Homes' website at mihomes.com, click on the "Investors" section of the site, and select "Listen to the Conference Call." A replay of the call will continue to be available on our website through July 2027. M/I Homes, Inc., celebrating its 50th year in business in 2026, is one of the nation's leading homebuilders of single-family homes. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort Myers/Naples and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina and Nashville, Tennessee. Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "targets," "envisions," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defects, product liability and warranty claims and various governmental rules and regulations including changes in trade policy affecting business such as new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, as more fully discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission. All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted. View original content to download multimedia:https://www.prnewswire.com/news-releases/mi-homes-reports-2026-second-quarter-results-302836906.html

NVR (NVR) came out with quarterly earnings of $83.96 per share, missing the Zacks Consensus Estimate of $94.82 per share. This compares to earnings of $108.54 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -11.45%. A quarter ago, it was expected that this homebuilder would post earnings of $78.25 per share when it actually produced earnings of $67.76, delivering a surprise of -13.41%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. NVR, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $2.28 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 5.23%. This compares to year-ago revenues of $2.55 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. NVR shares have lost about 12.9% since the beginning of the year versus the S&P 500's gain of 9.6%. While NVR has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for NVR was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $107.42 on $2.59 billion in revenues for the coming quarter and $371.11 on $9.59 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, M/I Homes (MHO), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 29. This homebuilder is expected to post quarterly earnings of $3.17 per share in its upcoming report, which represents a year-over-year change of -28.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. M/I Homes' revenues are expected to be $1.18 billion, up 1.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVR, Inc. (NVR) : Free Stock Analysis Report M/I Homes, Inc. (MHO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PulteGroup (PHM) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $2.38 per share. This compares to earnings of $3.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.20%. A quarter ago, it was expected that this homebuilder would post earnings of $1.8 per share when it actually produced earnings of $1.79, delivering a surprise of -0.56%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. PulteGroup, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $3.98 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.06%. This compares to year-ago revenues of $4.4 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. PulteGroup shares have added about 6% since the beginning of the year versus the S&P 500's gain of 9.7%. While PulteGroup has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for PulteGroup was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.70 on $4.33 billion in revenues for the coming quarter and $9.95 on $16.4 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the bottom 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, M/I Homes (MHO), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 29. This homebuilder is expected to post quarterly earnings of $3.17 per share in its upcoming report, which represents a year-over-year change of -28.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. M/I Homes' revenues are expected to be $1.18 billion, up 1.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PulteGroup, Inc. (PHM) : Free Stock Analysis Report M/I Homes, Inc. (MHO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

On May 19, 2026, EMG Holdings disclosed a new position in KB Home (NYSE:KBH), acquiring 77,657 shares in a trade estimated at $4.57 million based on quarterly average pricing. According to its SEC filing dated May 19, 2026, EMG Holdings reported purchasing 77,657 shares of KB Home (NYSE:KBH) during the first quarter. The estimated value of this transaction was $4.57 million, based on the quarterly average share price. As of March 31, 2026, the holding was valued at $4.02 million, reflecting the new position and subsequent price movements during the quarter. Top five holdings after the filing: As of May 18, 2026, KB Home shares were priced at $45.64, down 15% over the past year and lagging the S&P 500, which is instead up about 25%. KB Home develops and sells single-family homes, townhomes, and condominiums, with additional offerings in insurance and title services. The firm generates revenue primarily through home sales across multiple U.S. regions, complemented by ancillary financial services. It targets first-time, move-up, and active adult homebuyers in states including California, Texas, Florida, and Arizona. KB Home focuses on residential construction for a diverse range of buyers, including first-time and move-up customers. The company leverages a regional operating model and offers integrated financial and insurance services. Homebuilder stocks have struggled under the weight of high mortgage rates and cautious consumers, but EMG’s new position suggests it still sees value here. Still, KB Home’s latest quarter was a bit uneven on the surface. Revenue fell 23% year over year to $1.08 billion, while diluted earnings per share dropped to $0.52 from $1.49 a year earlier. Gross margins also compressed, with housing gross profit margin sliding to 15.3% from 20.2% as the company leaned on price reductions and incentives to drive demand.However, there were also some encouraging signs beneath the headline numbers. Net orders actually rose 3% to 2,846 homes, cancellation rates improved to 12% from 16%, and KB Home continued aggressively buying back stock, repurchasing $50 million worth of shares during the quarter.For long-term investors, it’s important to remember that housing stocks can be very cyclical. If mortgage rates eventually ease, beaten-down homebuilders could recover faster than many investors currently expect. Before you buy stock in KB Home, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and KB Home wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $483,476!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,362,941!* Now, it’s worth noting Stock Advisor’s total average return is 998% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of May 19, 2026. Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends KB Home and recommends the following options: short July 2026 $60 calls on KB Home. The Motley Fool has a disclosure policy. KB Home Stock Is Down 15%. So Why Did One Investor Buy Up $4 Million in Shares Last Quarter? was originally published by The Motley Fool

Q1 results: M/I Homes reported $921 million of revenue and $89.2 million of pre-tax income (revenue down 6% and pre-tax income down 39% year-over-year), with EPS falling to $2.55 as margins were pressured by higher incentives and lot costs (gross margin 22%, down 390 bps). Strong balance sheet and land position: The company ended the quarter with record shareholders’ equity of $3.2 billion and book value per share of $125, about $767 million in cash with zero borrowings on a $900 million revolver (debt-to-cap 18%, net debt-to-cap -2%), and roughly 50,000 owned/controlled lots (~five-year supply) with $1.9 billion of unsold land investment. Sales dynamics and mortgage capture: New contracts rose 3% to 2,350 (Jan/Feb strength offset by a weak March), deliveries were 1,914, 50% of buyers were first-time purchasers and 70% were inventory homes, and the mortgage arm captured 96% of customers while rate buydowns remained a key sales tool. Interested in M/I Homes, Inc.? Here are five stocks we like better. KB Home Constructs Bullish Price Action As Wider Industry Thrives M/I Homes (NYSE:MHO) reported what management called a “very solid” first quarter, posting $921 million of revenue and $89.2 million of pre-tax income, while navigating a housing market shaped by affordability pressures, shifting consumer confidence, and higher mortgage-rate volatility. On the company’s April 22 earnings call, CEO and President Robert H. Schottenstein said results were highlighted by a 10% pre-tax income return and 12% return on equity, even as demand remained “challenging and impacted by affordability, uneven consumer confidence, the conflict in the Middle East, and general uncertainty and volatility in the broader economy.” → GE Vernova Beats Earnings by 790% as Data Center Demand Explodes Will Fed Rate-Hike Pause Lead To Small-Cap Outperformance? Schottenstein said new contracts increased 3% year over year to 2,350 homes, supported by sales momentum that carried from late 2025 into January and February. He noted winter storms affected multiple markets early in the quarter, but traffic and buyer activity improved as the spring selling season began. Conditions then “slightly shifted” late in February and into March, he said, as events in the Middle East contributed to higher mortgage rates, higher gas prices, and increased uncertainty. During the quarter, M/I Homes delivered 1,914 homes, down 3% from a year earlier. Total revenue declined 6% to $921 million and pre-tax income fell 39% to $89.2 million. Schottenstein also highlighted a record $3.2 billion of shareholders’ equity and record book value per share of $125, up 11% from last year. → Tesla’s Earnings Confirm the Shift to AI—But at What Cost? EVP and CFO Phillip G. Creek provided additional detail on the quarterly cadence: new contracts were up 11% in January, up 7% in February, and down 6% in March, with March 2025 described as the highest monthly contract total of last year. Creek said the cancellation rate was 8%. Creek said 50% of first-quarter sales were to first-time buyers and 70% were inventory homes. The company’s average monthly sales pace was 3.4 homes per community, consistent with 2025. Schottenstein said buyers remained “high-quality” from a credit perspective, with average credit scores of 747 and average down payments of 15%. → Tariffs Rose: 1 Steelmaker Thrived, 1 Still Struggles Creek said gross margin was 22% in the first quarter, down 390 basis points year over year, primarily due to higher homebuyer incentives and higher lot costs. SG&A expenses rose to 12.7% of revenue from 11.5% a year ago, with costs up 4% due mainly to higher selling expenses, a larger community count, and added headcount. Earnings per diluted share were $2.55, down from $3.98 a year earlier. EBITDA was $99 million compared with $154 million in the prior-year period. The effective tax rate was 24%, unchanged from last year’s first quarter. Creek also reported net interest income of $3.1 million, with $9 million of interest incurred. Schottenstein emphasized the role of incentives, saying mortgage rate buydowns continued to be “an important part of our sales strategy.” He said the company has worked to balance margins and sales pace at the community level, offering buydowns for both spec and to-be-built homes. In response to a question about whether incentives increased during March’s volatility, Schottenstein described the company’s approach as “pretty consistent.” He said most buyers prefer a 30-year fixed-rate mortgage, and M/I Homes has generally led with a 4 7/8 rate on inventory homes deliverable within roughly 60 days, and “a rate in the very low fives” for to-be-built homes with a long-term rate lock, while noting there are exceptions across the company’s 200-plus communities. M/I Homes ended the quarter with 230 communities, up from 226 a year ago. Creek said the company opened 22 new communities and closed 24 during the quarter, finishing with 91 communities in the northern region and 139 in the southern region. Schottenstein said division income contributions in the quarter were led by Chicago, Columbus, Dallas, Orlando, and Raleigh. He added that new contracts in the northern region decreased 4% while southern-region contracts increased 8% year over year. Deliveries in the northern region fell 9% and represented just under 40% of total deliveries, while southern deliveries increased 1% and represented the remaining 60%. On market-level trends, Schottenstein said margins over the past year have generally held up better in Midwest markets than in Florida, and he pointed to the west coast of Florida—“from Tampa, down through Sarasota”—as the most challenging area currently. Creek said the company believes its diversification across 17 markets and multiple price points has been beneficial, particularly as Florida and Texas have cooled from earlier strength. Schottenstein outlined the company’s owned and controlled lot position, saying the company owns about 24,200 lots (slightly under a three-year supply) and controls roughly 25,800 lots via option contracts, for approximately 50,000 total lots, equating to “about a five-year supply.” Creek added that unsold land investment was $1.9 billion at quarter-end, including $844 million of raw land and land under development and $1 billion of finished unsold lots. Derek Klutch, president of M/I Financial, said mortgage and title operations produced pre-tax income of $14.1 million, down 12% from $16.1 million in the prior-year quarter. Revenue decreased 1% to $31.2 million, which Klutch attributed to slightly lower margins on loans sold and a lower average loan amount, partially offset by an increase in originations. Klutch said the average loan-to-value on first mortgages was 85%, up from 83% a year ago. He also noted a shift in product mix: 66% of loans closed were conventional and 34% were FHA or VA, compared to 57% and 43%, respectively, in last year’s first quarter. The average mortgage amount declined to $401,000 from $406,000, while loans originated rose 3% to 1,579 and the volume of loans sold increased 1%. Klutch said the mortgage operation captured 96% of the company’s business in the quarter, up from 92% last year. Schottenstein later said M/I Homes’ capture rate is “the highest in the industry” and described the mortgage platform as a contributor to profitability, particularly amid widespread use of rate buydowns. Management emphasized liquidity and leverage. Schottenstein said the company ended the quarter with zero borrowings under its $900 million unsecured revolving credit facility and more than $750 million in cash, producing a debt-to-capital ratio of 18% and a net debt-to-capital ratio of negative 2%. Creek put the cash balance at $767 million and said the company’s public debt matures in 2028 and 2030 and carries interest rates below 5%. Creek said the company had 4,600 homes in the field at March 31, compared with 4,800 a year ago. Inventory at quarter-end included 740 completed inventory homes and 2,584 total inventory homes, with 999 in the northern region and 1,585 in the southern region. On capital returns, Creek said the company repurchased $50 million of stock during the quarter and had $170 million remaining under its board authorization. He added that M/I Homes has repurchased 18% of its outstanding shares over the last four years. Asked whether repurchases could accelerate given cash generation, Schottenstein said the company discusses buybacks regularly with the board but added, “I don’t really see any change,” while acknowledging it is possible. Looking ahead, Schottenstein said 2026 marks the company’s 50th year in business and reiterated confidence in its positioning, citing the balance sheet, land supply, geographic footprint, and product diversity. He added that while uncertainty has increased, he believes housing is “holding up pretty damn well” and said the company expects 2026 to be “one of our five or six best years” in its history. M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations. In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services. The article "M/I Homes Q1 Earnings Call Highlights" was originally published by MarketBeat.

M/I Homes, Inc. has reported past first-quarter 2026 results, with revenue of US$920.71 million and net income of US$67.83 million, both lower than a year earlier, and diluted EPS from continuing operations of US$2.55 versus US$3.98. Despite softer revenue and earnings, the company highlighted record shareholders' equity, a strong balance sheet, and growing new contracts supported by its affordable Smart Series homes and mortgage rate buydown incentives. We will now examine how this combination of lower earnings but firm new-contract momentum and balance sheet strength may influence M/I Homes' investment narrative. AI is about to change healthcare. These 34 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. To own M/I Homes, you need to be comfortable with a story built on a solid balance sheet, record shareholders’ equity, and steady new-contract activity, while accepting that profits can be pressured when the company leans on mortgage rate buydowns. The latest quarter’s lower revenue and earnings, alongside higher new contracts and 22% gross margins, reinforces that trade-off rather than changing it. The key near term catalyst remains contract growth, with margin compression still the primary risk. The most relevant recent development here is the Q1 2026 earnings release, which showed revenue of US$920.71 million and net income of US$67.83 million, both below the prior year, but also a 3% increase in new contracts to 2,350 and a 12% return on equity. For investors focused on contract trends as a driver of future closings, this mix of softer earnings and firm demand indicators is central to how the story may evolve. Yet behind the contract growth, investors should be aware that margin pressure from ongoing mortgage rate buydowns could... Read the full narrative on M/I Homes (it's free!) M/I Homes' narrative projects $4.9 billion revenue and $414.9 million earnings by 2029. This requires 3.2% yearly revenue growth and about a $12 million earnings increase from $402.9 million today. Uncover how M/I Homes' forecasts yield a $157.00 fair value, a 17% upside to its current price. Some of the lowest ranked analysts were already assuming only about 4.4% annual revenue growth and shrinking margins, so Q1’s weaker earnings may push their more cautious view even further. Explore 2 other fair value estimates on M/I Homes - why the stock might be worth as much as 17% more than the current price! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your M/I Homes research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Our free M/I Homes research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate M/I Homes' overall financial health at a glance. Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters: The future of work is here. Discover the 35 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. Uncover the next big thing with 27 elite penny stocks that balance risk and reward. This technology could replace computers: discover 26 stocks that are working to make quantum computing a reality. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MHO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Management attributed solid first-quarter performance to a balanced approach between sales pace and margins, despite headwinds from Middle East volatility and fluctuating mortgage rates. Strategic mortgage rate buydowns remain the primary sales incentive, with the company successfully applying these to both spec inventory and to-be-built homes to maintain momentum. The Smart Series product line continues to be a critical driver of volume, representing 47% of total sales as the company targets the high-demand first-time homebuyer segment. Operational efficiency improved through reduced cycle times, allowing for faster deliveries and better management of inventory levels in a shifting demand environment. Geographic diversification provided a hedge against regional weakness, with strong performance in Northern markets like Chicago and Columbus offsetting softening in Florida's West Coast. Management emphasized a disciplined land strategy, maintaining a roughly 5-year supply of owned and controlled lots while avoiding riskier structures like land banking or build-to-rent. The company plans to grow its average community count by approximately 5% in 2026, with more than 80 new community openings scheduled for the year. Management expects average sales prices to remain stable in the upper $400,000 range for the foreseeable future, driven by a mix of affordable attached products and move-up homes. Growth projections for Northern markets including Indianapolis, Chicago, Minneapolis, Columbus, and Cincinnati are targeted at 5% to 10% annually, supported by a 21% year-over-year increase in Northern lot positions. Guidance assumes continued volatility in mortgage rates, with the company prepared to adjust incentive levels on a subdivision-by-subdivision basis rather than using broad-brush discounts. Capital allocation will prioritize reinvestment in land and new store openings, though management indicated they will continue to evaluate the pace of share repurchases with the Board. Gross margins decreased 390 basis points year-over-year to 22%, primarily due to higher homebuyer incentives and increased lot costs. Management flagged the West Coast of Florida, specifically Tampa through Sarasota, as the most challenging region currently facing the company. While fuel surcharges have been discussed by vendors due to rising gas prices, management reported no material impact on costs to date due to long-standing trade relationships. The company maintains a highly liquid balance sheet with $767 million in cash and zero borrowings on its $900 million credit facility, providing a buffer against macro uncertainty. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management confirmed that while some vendors have raised the issue of fuel surcharges, there has been no actual impact on the company's cost structure yet. The company is leveraging long-term relationships and a year-long internal cost reduction effort to mitigate potential price increases from subcontractors. Management declined to provide specific margin guidance due to macro uncertainty but noted that Q1 margins were nearly flat sequentially from Q4, suggesting a potential leveling off. The primary incentive working for buyers is a 30-year fixed rate buydown, typically targeting a 4.78% rate for inventory homes and low 5% for to-be-builts. Midwest markets are currently holding margins better than Florida markets, which have seen significant normalization from previous highs. The company is seeing strong profitability in Dallas, Chicago, and Columbus, while Raleigh is expected to see volume growth as delayed land deals finally come to market. Approximately 50% of Q1 deliveries were homes both sold and closed within the same quarter, aided by significantly reduced construction cycle times compared to the previous year. Management prefers to-be-built sales for higher margins but uses spec inventory to satisfy buyers needing immediate move-ins and to facilitate easier mortgage rate locks. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.