Exhibit 99.1
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M/I Homes Reports
2025 Second Quarter Results

Columbus, Ohio (July 23, 2025) - M/I Homes, Inc. (NYSE:MHO) announced results for the three and six months ended June 30, 2025.

2025 Second Quarter Highlights:
•Record second quarter revenue and homes delivered
•Revenue increased 5% to $1.2 billion
•Homes delivered increased 6% to 2,348
•Pre-tax income decreased 18% to $160 million, 14% of revenue
•Net income of $121 million ($4.42 per diluted share) versus $147 million ($5.12 per diluted share)
•Shareholders’ equity reached a record $3.1 billion, a 12% increase from a year ago, book
value per share of $117
•New contracts were 2,078, compared to 2,255 in last year’s second quarter, an 8% decrease
•Repurchased $50 million of common stock
•Return on equity of 17%

The Company reported pre-tax income of $160.1 million and net income of $121.2 million ($4.42 per diluted share) for the second quarter of 2025. This compares to pre-tax income of $194.1 million and net income of $146.7 million, or $5.12 per diluted share, for the second quarter of 2024. For the six months ended June 30, 2025, the Company reported pre-tax income of $306.2 million and net income of $232.5 million, or $8.40 per diluted share, compared to $374.4 million and $284.8 million, or $9.90 per diluted share, for the same period of 2024, respectively.

Homes delivered in 2025's second quarter increased 6% to 2,348 homes, a second quarter record. This compares to 2,224 homes delivered in 2024’s second quarter. Homes delivered for the six months ended June 30, 2025 decreased 1% to 4,324 from deliveries of 4,382 for the six months ended June 30, 2024. New contracts were 2,078 for the second quarter of 2025, an 8% decrease compared to 2,255 in last year’s second quarter. For the first half of 2025, new contracts were 4,370, a 9% decrease compared to 4,802 in the first half of 2024. Homes in backlog at June 30, 2025 had a total sales value of $1.43 billion, a 22% decrease from a year ago. Backlog units at June 30, 2025 decreased 25% to 2,577 homes, with an average sales price of $553,000. At June 30, 2024, backlog sales value was $1.82 billion, with backlog units of 3,422 and an average sales price of $533,000. M/I Homes had a record 234 communities at June 30, 2025 compared to 211 communities at June 30, 2024. The Company's cancellation rate was 13% in the second quarter of 2025 compared to 10% in the second quarter of 2024.

Robert H. Schottenstein, Chief Executive Officer and President, commented, “We delivered solid second quarter results, despite continued challenging market conditions. Our results are highlighted by new second quarter records in revenue and homes delivered, strong gross margins of 25%, 14% pre-tax income and 17% return on equity.”

Mr. Schottenstein added, “Although market conditions remain choppy and challenging, we are confident in the underlying fundamentals of the housing industry and our ability to navigate through this uncertain environment. Our balance sheet remains very strong, with zero borrowings under our $650 million unsecured credit facility, a cash


position of $800 million, homebuilding debt-to-capital of 18%, and a net debt-to-capital ratio of negative 3%. We continue to strategically invest in our operations and are on track to grow our average community count by approximately 5% this year.”

The Company will broadcast live its earnings conference call today at 10:30 A.M. Eastern Time. To listen to the call live, log on to the M/I Homes’ website at mihomes.com, click on the “Investors” section of the site, and select “Listen to the Conference Call.” A replay of the call will remain available on our website through July 2026.

M/I Homes, Inc. is one of the nation’s leading homebuilders of single-family homes. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort Myers/Naples and Orlando, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina and Nashville, Tennessee.

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “anticipates,” “targets,” “envisions,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements. These statements involve a number of risks and uncertainties. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defects, product liability and warranty claims and various governmental rules and regulations including changes in trade policy affecting business such as new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, as more fully discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission. All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted.


Contact M/I Homes, Inc.
Ann Marie W. Hunker, Vice President, Chief Accounting Officer and Controller, (614) 418-8225
Mark Kirkendall, Vice President, Treasurer, (614) 418-8021



M/I Homes, Inc. and Subsidiaries
Summary Statement of Income (unaudited)
(Dollars and shares in thousands, except per share amounts)

Three Months EndedSix Months Ended
June 30,June 30,
2025202420252024
New contracts2,078 2,255 4,370 4,802 
Average community count230 215 227 214 
Cancellation rate13 %10 %11 %9 %
Backlog units2,577 3,422 2,577 3,422 
Backlog sales value$1,425,138 $1,822,686 $1,425,138 $1,822,686 
Homes delivered2,348 2,224 4,324 4,382 
Average home closing price$479 $482 $477 $477 
Homebuilding revenue:
   Housing revenue$1,124,475 $1,072,044 $2,064,506 $2,088,557 
   Land revenue6,667 6,975 11,209 10,203 
Total homebuilding revenue$1,131,142 $1,079,019 $2,075,715 $2,098,760 
Financial services revenue31,450 30,762 62,970 57,724 
Total revenue$1,162,592 $1,109,781 $2,138,685 $2,156,484 
Cost of sales - operations875,973 800,501 1,599,283 1,563,861 
Gross margin$286,619 $309,280 $539,402 $592,623 
General and administrative expense67,247 63,994 126,320 120,078 
Selling expense63,655 58,495 116,441 112,435 
Operating income$155,717 $186,791 $296,641 $360,110 
Interest income, net of interest expense
(4,377)(7,348)(9,574)(14,268)
Income before income taxes$160,094 $194,139 $306,215 $374,378 
Provision for income taxes38,851 47,393 73,735 89,571 
Net income$121,243 $146,746 $232,480 $284,807 
Earnings per share:
Basic$4.52 $5.26 $8.59 $10.18 
Diluted$4.42 $5.12 $8.40 $9.90 
Weighted average shares outstanding:
Basic26,836 27,878 27,074 27,965 
Diluted27,406 28,668 27,673 28,777 


M/I Homes, Inc. and Subsidiaries
Summary Balance Sheet and Other Information (unaudited)
(Dollars in thousands, except per share amounts)

As of
June 30,
20252024
Assets:
Total cash, cash equivalents and restricted cash (1)
$800,398 $837,458 
Mortgage loans held for sale280,867 227,254 
Inventory:
Lots, land and land development1,683,930 1,467,961 
Land held for sale5,005 4,235 
Homes under construction1,403,582 1,306,650 
Other inventory194,089 159,618 
Total Inventory$3,286,606 $2,938,464 
Property and equipment - net33,749 36,438 
Investments in joint venture arrangements67,466 46,180 
Operating lease right-of-use assets56,403 56,697 
Goodwill16,400 16,400 
Deferred income tax asset13,451 15,313 
Other assets184,699 165,866 
Total Assets$4,740,039 $4,340,070 
Liabilities:
Debt - Homebuilding Operations:
Senior notes due 2028 - net$398,040 $397,266 
Senior notes due 2030 - net297,621 297,117 
Total Debt - Homebuilding Operations$695,661 $694,383 
Notes payable bank - financial services operations275,926 222,792 
Total Debt$971,587 $917,175 
Accounts payable252,476 278,859 
Operating lease liabilities57,997 58,043 
Other liabilities375,843 344,876 
Total Liabilities$1,657,903 $1,598,953 
Shareholders’ Equity3,082,136 2,741,117 
Total Liabilities and Shareholders’ Equity$4,740,039 $4,340,070 
Book value per common share$117.01 $100.03 
Homebuilding debt to capital ratio (2)
18 %20 %
(1)Includes $0.2 million of restricted cash and cash held in escrow for both quarters ended June 30, 2025 and 2024.
(2)The ratio of homebuilding debt to capital is calculated as the carrying value of our homebuilding debt outstanding divided by the sum of the carrying value of our homebuilding debt outstanding plus shareholders’ equity.


M/I Homes, Inc. and Subsidiaries
Selected Supplemental Financial and Operating Data (unaudited)
(Dollars in thousands)
Three Months EndedSix Months Ended
June 30,June 30,
2025202420252024
Cash provided by operating activities$37,755 $27,511 $102,642 $143,283 
Cash used in investing activities$(12,318)$(10,433)$(15,246)$(27,541)
Cash used in by financing activities$(1,417)$(49,782)$(108,568)$(11,088)
Land/lot purchases$101,751 $119,182 $247,734 $226,842 
Land development spending$139,008 $144,539 $240,607 $263,906 
Land sale revenue$6,667 $6,975 $11,209 $10,203 
Land sale gross profit
$3,202 $1,933 $3,988 $3,246 
Financial services pre-tax income$14,476 $14,400 $30,582 $26,712 



M/I Homes, Inc. and Subsidiaries
Non-GAAP Financial Results (1)
(Dollars in thousands)
Three Months EndedSix Months Ended
June 30,June 30,
2025202420252024
Net income$121,243 $146,746 $232,480 $284,807 
Add:
Provision for income taxes38,851 47,393 73,735 89,571 
Interest income - net(7,726)(10,686)(15,767)(20,453)
Interest amortized to cost of sales8,227 7,938 15,128 16,240 
Depreciation and amortization4,904 4,607 9,681 9,074 
Non-cash charges3,916 3,810 8,116 7,349 
Adjusted EBITDA$169,415 $199,808 $323,373 $386,588 

(1) We believe these non-GAAP financial measures are relevant and useful to investors in understanding our operations and may be helpful in comparing us with other companies in the homebuilding industry to the extent they provide similar information. These non-GAAP financial measures should be used to supplement our GAAP results in order to provide a greater understanding of the factors and trends affecting our operations.


M/I Homes, Inc. and Subsidiaries
Selected Supplemental Financial and Operating Data

NEW CONTRACTS
Three Months EndedSix Months Ended
June 30,June 30,
%%
Region20252024Change20252024Change
Northern873 1,002 (13)%1,938 2,164 (10)%
Southern1,205 1,253 (4)%2,432 2,638 (8)%
Total2,078 2,255 (8)%4,370 4,802 (9)%


HOMES DELIVERED
Three Months EndedSix Months Ended
June 30,June 30,
%%
Region20252024Change20252024Change
Northern967 951 2 %1,793 1,794 — %
Southern1,381 1,273 8 %2,531 2,588 (2)%
Total2,348 2,224 6 %4,324 4,382 (1)%


BACKLOG
June 30, 2025June 30, 2024
DollarsAverageDollarsAverage
RegionUnits(millions)Sales PriceUnits(millions)Sales Price
Northern1,281 $721 $563,000 1,618 $853 $527,000 
Southern1,296 $704 $543,000 1,804 $970 $538,000 
Total2,577 $1,425 $553,000 3,422 $1,823 $533,000 


LAND POSITION SUMMARY
June 30, 2025June 30, 2024
LotsLots UnderLotsLots Under
RegionOwnedContractTotalOwnedContractTotal
Northern7,104 8,710 15,814 6,784 10,250 17,034 
Southern17,403 17,247 34,650 16,520 15,898 32,418 
Total24,507 25,957 50,464 23,304 26,148 49,452