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Compared to Estimates, M/I Homes (MHO) Q2 Earnings: A Look at Key Metrics
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M/I Homes (MHO - Free Report) reported $1.11 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 9.4%. EPS of $5.12 for the same period compares to $4.12 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.06 billion, representing a surprise of +4.96%. The company delivered an EPS surprise of +11.30%, with the consensus EPS estimate being $4.60.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how M/I Homes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average home closing price: $482 thousand compared to the $471.14 thousand average estimate based on two analysts.
Homes delivered - Total: 2,224 compared to the 2,182 average estimate based on two analysts.
New contracts - Total: 2,255 compared to the 2,364 average estimate based on two analysts.
Average sales price of homes in backlog - Total Homebuilding Regions: $533 thousand versus $526.69 thousand estimated by two analysts on average.
Number of active communities (Average community count): 215 compared to the 218 average estimate based on two analysts.
Aggregate sales value of homes in backlog - Total Homebuilding Regions: $1.82 billion versus $1.88 billion estimated by two analysts on average.
Homes in backlog: 3,422 versus the two-analyst average estimate of 3,573.
Revenue- Homebuilding revenue- Housing revenue: $1.07 billion versus the two-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of +9.4%.
Revenue- Financial services revenue: $30.76 million versus $26.80 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +21.8% change.
Revenue- Homebuilding revenue: $1.08 billion compared to the $1.03 billion average estimate based on two analysts. The reported number represents a change of +9.1% year over year.
Shares of M/I Homes have returned +41.6% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, M/I Homes (MHO) Q2 Earnings: A Look at Key Metrics
M/I Homes (MHO - Free Report) reported $1.11 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 9.4%. EPS of $5.12 for the same period compares to $4.12 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.06 billion, representing a surprise of +4.96%. The company delivered an EPS surprise of +11.30%, with the consensus EPS estimate being $4.60.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how M/I Homes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average home closing price: $482 thousand compared to the $471.14 thousand average estimate based on two analysts.
- Homes delivered - Total: 2,224 compared to the 2,182 average estimate based on two analysts.
- New contracts - Total: 2,255 compared to the 2,364 average estimate based on two analysts.
- Average sales price of homes in backlog - Total Homebuilding Regions: $533 thousand versus $526.69 thousand estimated by two analysts on average.
- Number of active communities (Average community count): 215 compared to the 218 average estimate based on two analysts.
- Aggregate sales value of homes in backlog - Total Homebuilding Regions: $1.82 billion versus $1.88 billion estimated by two analysts on average.
- Homes in backlog: 3,422 versus the two-analyst average estimate of 3,573.
- Revenue- Homebuilding revenue- Housing revenue: $1.07 billion versus the two-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of +9.4%.
- Revenue- Financial services revenue: $30.76 million versus $26.80 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +21.8% change.
- Revenue- Homebuilding revenue: $1.08 billion compared to the $1.03 billion average estimate based on two analysts. The reported number represents a change of +9.1% year over year.
View all Key Company Metrics for M/I Homes here>>>Shares of M/I Homes have returned +41.6% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.