Monitor next quarter's delivery volume and backlog trends to assess recovery in homebuilding activity; margin resilience is positive but demand indicators remain mixed.
Price Chart
Executive Summary
M/I Homes reported Q1 2026 results with revenue of $920.7M, missing consensus by 0.7%, and EPS of $2.55, missing by 1.6%. Despite a 3% increase in new contracts and strong gross margin of 22%, homes delivered and backlog declined year-over-year, contributing to a modest miss.
Key Financial Metrics
Key Facts
- Q1 2026 revenue was $920.7M, down 6% YoY and slightly below analyst consensus of $921.7M
- EPS was $2.55, missing consensus of $2.63 by 3.0%
- New contracts increased 3% to 2,350, but homes delivered decreased 3% to 1,914
- Gross margin held strong at 22%, with pre-tax income at 10% of revenue
- Backlog units declined 21% YoY to 2,245, with sales value down 23% to $1.20B
Financial Impact
Revenue miss of $1M and EPS miss of $0.08 vs consensus, driven by lower delivery volume despite stable margins
Risk Factors
- Declining backlog and delivery volumes signal ongoing demand pressure
- Elevated cancellation rate in prior periods may continue to impact future deliveries
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000799292-26-000014 |
| Document: mho-20260422.htm | 0000799292-26-000014 |
| Document: 0000799292-26-000014-index-headers.html | 0000799292-26-000014 |
| Document: 0000799292-26-000014-index.html | 0000799292-26-000014 |
| Document: 0000799292-26-000014.txt | 0000799292-26-000014 |
| 8-K Data (Synthetic) | 0000799292-26-000014 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Press Release | $139.10 $141.16 | ▼ −1.48% | ▼ −1.98% | $134.76 (+3.12%) |
Jul 29, 2026 9w ago | 8-K | $154.48 $150.54 | ▲ +2.55% | ▲ +8.08% | $134.76 (+12.77%) |
Apr 22, 2026 23w ago | 8-K | $133.64 $134.17 | ▲ +0.40% | ▲ +0.34% | $134.76 (+0.84%) |
Mar 4, 2026 30w ago | 8-K | $138.37 $128.31 | ▼ −7.27% | ▼ −5.03% | $134.76 (−2.61%) |
US Market Status
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