M/I Homes Reports 2026 Second Quarter Results
M/I Homes (NYSE: MHO) reported 2026 Q2 results for the three and six months ended June 30. New contracts rose 15% to 2,387, while homes delivered fell 6% to 2,206. Revenue declined 9% to $1.1 billion. Gross margin was 22%, pre-tax income $105 million, and net income $79 million, or $3.02 per diluted share. The company repurchased $50 million of stock.
How this was made
The 30-second read
Why it matters
Traders will likely weigh the earnings decline against margin performance and balance-sheet strength, and monitor whether record new contracts translate into improved backlog value and deliveries in coming quarters.
Market read
A full quarterly earnings datapoint with demand and margin metrics, plus a stated credit-rating upgrade and buyback activity, should drive near-term positioning in homebuilder risk.
What to watch
Backlog sales value fell 8% and average sales price declined to $538k from $553k, which may pressure future revenue even if contract counts improved.
Background
M/I Homes is a single-family homebuilder; this release covers Q2 and first-half 2026 operating metrics, including deliveries, contracts, backlog, margins, and capital allocation.
Ticker impact
M/I Homes reported Q2 results with revenue down 9% to $1.1B, gross margin 22%, and net income $79M ($3.02/sh) versus $121M ($4.42/sh) a year ago.
Likely modest post-earnings volatility, with focus on margin durability, backlog trend, and whether management’s balance-sheet strength offsets demand softness.
The article provides full quarterly datapoints (deliveries, revenue, margins, earnings per share) plus backlog and credit-rating upgrade, which are typically the key drivers for homebuilder earnings reactions.
Market effects
Adds another datapoint on US homebuilder demand softness (deliveries down, backlog value down) while showing gross margin held at 22%.
Limited to M/I Homes’ footprint, but the results can influence sentiment toward Midwest/Florida housing demand where the company is active.
Low; homebuilding fundamentals are primarily domestic and rate-driven.
Counterpoint
The record new-contracts print (up 15% to a Q2 record) could indicate demand is stabilizing, so the earnings decline may be more timing-related than structural.
Key entities
- companyM/I Homes, Inc.
Reported Q2 2026 results: revenue $1.1B, gross margin 22%, net income $79M ($3.02/sh), and record new contracts.
- executiveRobert H. Schottenstein
CEO and President who highlighted record new contracts, margin and ROE, and cited an S&P credit rating upgrade to BB+.
- creditS&P credit rating
Company states S&P upgraded its credit rating to BB+.
