MHO - M/I Homes GAAP EPS of $4.67 beats by $0.62 revenue of $1.01B misses by $40M
- M/I Homes press release ( MHO ): Q3 GAAP EPS of $4.67 beats by $0.62 .
- Revenue of $1.01B (+11.7% Y/Y) misses by $40M .
- Homes delivered decreased 1% to 2,026 and average sales price increased 13% to $487,000
- New contracts of 1,349, down 31% with average community count down 2% and a cancellation rate of 17%
- Backlog units decreased 16% to 4,536
- Backlog sales value decreased 5% to $2.4 billion, with average sales price in backlog at an all-time record $533,000
- Shareholders' equity reached an all-time record of $1.9 billion, a 25% increase from a year ago, with book value per share of $71
- Homebuilding debt to capital ratio of 26% compared to 31% at September 30, 2021
- Return on equity of 27%
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M/I Homes GAAP EPS of $4.67 beats by $0.62, revenue of $1.01B misses by $40M