Filing Flows › M/I Homes (MHO) › Q1 2025
M/I Homes (MHO) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 25, 2025
M/I Homes (MHO) reported revenue of $976M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -19% from the quarter before. Operating margin was 14.4%, net earnings $111M (11.4% of revenue).
M/I Homes, Q1 2025: revenue $976M (-7% year over year), operating margin 14.4%, net earnings $111M, operating cash flow $64.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $976M | -19% | -7% |
| Operating profit | $141M | -14% | -19% |
| Net earnings | $111M | -17% | -19% |
| Operating cash flow | $64.9M | -38% | -44% |
| Free cash flow | $63.5M | -38% | -45% |
What changed
Revenue was $976.1M in Q1 2025, down 7% year over year and down 19% from the previous quarter. Construction was the largest line at 96% of revenue. Construction lost $76.5M year over year (down 8%), 108% of the total change.
Operating profit was $140.9M, a 14.4% margin (down 2.1 points year over year). Total costs fell 4% while revenue fell 7%. Net earnings were $111.2M, down 19% year over year. The effective tax rate was 23.9%.
Operating cash flow was $64.9M (down 44% year over year), 58% of net earnings. Non-cash charges added back $3.7M of depreciation and $4.2M of share-based compensation. Working capital and other items used $54.2M. Capital expenditures of $1.3M left free cash flow of $63.5M.
Questions
What was M/I Homes' revenue in the first quarter 2025?
M/I Homes (MHO) reported revenue of $976M for the first quarter 2025 (Q1 2025), -7% from a year earlier and -19% from the quarter before.
Was M/I Homes profitable in the first quarter 2025?
Operating profit was $141M (14.4% of revenue) and net earnings $111M.
Source: M/I Homes 10-Q on SEC EDGAR.