M/I Homes (MHO) Misses Q4 EPS by 6c, Beats on Revenues

M/I Homes (NYSE: MHO) reported Q4 EPS of $0.90, $0.06 worse than the analyst estimate of $0.96. Revenue for the quarter came in at $621.7 million versus the consensus estimate of $591.02 million.

2017 Fourth-Quarter Results:

• New contracts increased 22% to a record 1,220 contracts
• Revenue increased 19% to a record $621.7 million
• Homes delivered increased 12% to 1,584 - the highest in ten years
• Pre-tax income increased to $34.1 million from $33.7 million in 2016; including $7.7 million and $4.0 million of impairment charges, respectively; excluding impairment charges, pre-tax income improved 11% to $41.8 million
• Net income of $15.9 million ($0.53 per diluted share), including a deferred tax asset re-measurement charge of $6.5 million ($0.21 per diluted share) as a result of the Tax Cuts and Jobs Act; 2016 net income was $20.6 million ($0.67 per diluted share)
• Diluted earnings per share increased 20% to $0.90 per share excluding the impact of the deferred tax asset re-measurement and the impact of the impairment charges in each year
• Backlog sales value increased 15% to $791 million, and backlog units increased 12%

For earnings history and earnings-related data on M/I Homes (MHO) click here.

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