M/I Homes FY26 Q2 net income drops 35% to $79 million; revenue falls 9% to $1.1 billion

• M/I Homes posted Q2 net income of USD 79.07 million, down 35% year over year, with diluted EPS of USD 3.02.
• Revenue fell 9% to USD 1.06 billion; income before income taxes dropped 35% to USD 104.56 million, including USD 4.2 million of pre-tax inventory charges.
• Gross margin was 22%; adjusted EBITDA (non-GAAP) declined to USD 120.45 million from USD 169.42 million.
• New contracts rose 15% to a Q2 record 2,387; homes delivered slid 6% to 2,206, while the cancellation rate improved 5 percentage points to 8%.
• Shareholders’ equity reached a record USD 3.23 billion, book value per share rose to USD 127.88; USD 50 million of stock was repurchased.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. M/I Homes Inc. published the original content used to generate this news brief on July 29, 2026, and is solely responsible for the information contained therein.