M/I Homes Inc. reported results for the third quarter ended September 30, 2025. Homes delivered increased by 1% to 2,296, a third quarter record. Revenue declined by 1% to $1.1 billion. Pre-tax income was $140 million, representing 12% of revenue, a decrease of 26%. Inventory charges totaled $7.6 million. Net income was $106.5 million, compared to $145 million in the same period last year. New contracts for the quarter were 1,908, down 6% from 2,023 a year ago. Shareholders' equity reached $3.1 billion, up 11% from the previous year, with book value per share rising to $120. The company repurchased $50 million of common stock in the quarter. Moody's upgraded the company's credit rating to Ba1.
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