The 10-second takeaway
For the quarter ended Dec. 31 (Q4), M/I Homes met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share grew.
Margins expanded across the board.
M/I Homes logged revenue of $250.9 million. The two analysts polled by S&P Capital IQ predicted a top line of $253.9 million on the same basis. GAAP reported sales were 42% higher than the prior-year quarter's $176.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.23. The one earnings estimate compiled by S&P Capital IQ forecast $0.29 per share. GAAP EPS were $0.23 for Q4 compared to -$0.16 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 19.6%, 120 basis points better than the prior-year quarter. Operating margin was 4.4%, 130 basis points better than the prior-year quarter. Net margin was 2.0%, 370 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $176.2 million.
Next year's average estimate for revenue is $906.3 million. The average EPS estimate is $0.92.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 148 members out of 358 rating the stock outperform, and 210 members rating it underperform. Among 116 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 47 give M/I Homes a green thumbs-up, and 69 give it a red thumbs-down.
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