Filing Flows › M/I Homes (MHO) › Q2 2025
M/I Homes (MHO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
M/I Homes (MHO) reported revenue of $1.2B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +19% from the quarter before. Operating margin was 13.4%, net earnings $121M (10.4% of revenue).
M/I Homes, Q2 2025: revenue $1.2B (+5% year over year), operating margin 13.4%, net earnings $121M, operating cash flow $37.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +19% | +5% |
| Operating profit | $156M | +10% | -17% |
| Net earnings | $121M | +9% | -17% |
| Operating cash flow | $37.8M | -42% | +37% |
| Free cash flow | $35.1M | -45% | +60% |
What changed
Revenue was $1.2B in Q2 2025, up 5% year over year and up 19% from the previous quarter. Construction was the largest line at 97% of revenue. Construction added $0.05B year over year (up 5%), 99% of the total change. Land declined 4%.
Operating profit was $0.16B, a 13.4% margin (down 3.4 points year over year). Operating profit fell $0.03B even though revenue rose $0.05B versus a year earlier, so costs grew faster than sales. Total costs grew 9% against revenue growth of 5%. Net earnings were $0.12B, down 17% year over year. The effective tax rate was 24.3%.
Operating cash flow was $0.04B (up 37% year over year), 31% of net earnings. Non-cash charges added back $3.8M of depreciation and $3.9M of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $2.6M left free cash flow of $0.04B.
Questions
What was M/I Homes' revenue in the second quarter 2025?
M/I Homes (MHO) reported revenue of $1.2B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +19% from the quarter before.
Was M/I Homes profitable in the second quarter 2025?
Operating profit was $156M (13.4% of revenue) and net earnings $121M.
Source: M/I Homes 10-Q on SEC EDGAR.