M/I Homes(NYSE) MHO

M/I Homes NYSE:MHO builds houses for families in many states. They help people buy first homes or move to larger ones. The company also provides mortgage and title services.

Houses and Mortgages

• Southern Homebuilding: Single-family home development in Florida and Texas; contributed 52% of revenue in the third quarter of 2026.
• Northern Homebuilding: Residential construction in markets like Chicago and Detroit; accounted for 44.9% of revenue in the third quarter of 2026.
• Financial Services: Mortgage loan origination and title insurance for customers; represented 3% of revenue in the third quarter of 2026.

Expanding the Footprint

• Opened 76 new residential communities during the first nine months of 2026.
• Authorized a new $250 million share repurchase program on Aug. 12, 2026.
• Increased borrowing capacity for mortgage financing to $300 million in Oct. 2026.
• Expanded operations into the Nashville, Tennessee, market to grow geographic presence.

One-Stop Homebuying

M/I Homes integrates construction, lending, and title insurance under one roof. The company maintains a five-year supply of land with 48,900 lots under control as of Sept. 30, 2026. This setup helped achieve a 96% mortgage capture rate in the third quarter of 2026.

By the Numbers

• Total revenue was $1.08 billion in the third quarter of 2026, down 5% year over year.
• Net income reached $66.6 million in the third quarter of 2026, down 38% year over year.
• New contracts increased 5% to 6,598 homes during the first nine months of 2026.
• Book value per common share rose to $130 at Sept. 30, 2026.

Decades of Growth

M/I Homes has evolved from a regional builder into a multi-state developer with integrated financial services. The company uses sales incentives to navigate changing housing market conditions.