Exhibit 99.1
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M/I Homes Reports
2025 Third Quarter Results

Columbus, Ohio (October 22, 2025) - M/I Homes, Inc. (NYSE:MHO) announced results for the three and nine months ended September 30, 2025.

2025 Third Quarter Highlights:
•Homes delivered increased 1% to 2,296, a third quarter record
•Revenue declined 1% to $1.1 billion
•Pre-tax income of $140 million, 12% of revenue, down 26%; includes inventory charges of $7.6 million
•Net income of $106.5 million ($3.92 per diluted share) versus $145 million ($5.10 per diluted share)
•New contracts were 1,908, compared to 2,023 in last year’s third quarter, a 6% decrease
•Shareholders’ equity reached a record $3.1 billion, an 11% increase from a year ago,
with book value per share increasing to a record high of $120
•Repurchased $50 million of common stock
•Received upgrade from Moody’s to Ba1
•Extended our bank credit facility to 2030, and increased our borrowing capacity to $900 million

The Company reported pre-tax income of $139.8 million and net income of $106.5 million ($3.92 per diluted share). Our current quarter results include a pre-tax inventory charge of $7.6 million. This compares to pre-tax income of $188.7 million and net income of $145.4 million, or $5.10 per diluted share, for the third quarter of 2024, both were third quarter records. For the nine months ended September 30, 2025, pre-tax income was $446.0 million and net income was $339.0 million, or $12.32 per diluted share, compared to $563.1 million and $430.3 million, or $14.99 per diluted share, for the same period of 2024, respectively.

Homes delivered in 2025's third quarter increased 1% to a third quarter record of 2,296 homes. This compares to 2,271 homes delivered in 2024’s third quarter. Homes delivered for the nine months ended September 30, 2025 were 6,620 compared to 2024’s deliveries of 6,653. New contracts were 1,908 for the third quarter of 2025 compared to 2,023 in last year’s third quarter. For the first nine months of 2025, new contracts were 6,278 compared to 6,825 in 2024. Homes in backlog at September 30, 2025 had a total sales value of $1.21 billion, a 30% decrease from a year ago. Backlog units at September 30, 2025 decreased 31% to 2,189 homes, with a record average sales price of $553,000. At September 30, 2024, backlog sales value was $1.73 billion, with backlog units of 3,174 and an average sales price of $544,000. M/I Homes had 233 communities at September 30, 2025 compared to 217 communities at September 30, 2024. The Company's cancellation rate was 12% in the third quarter of 2025 compared to 10% in the third quarter of 2024.

Robert H. Schottenstein, Chief Executive Officer and President, commented, “Despite the continued challenging housing market conditions and uneven demand environment, we had a solid quarter. We produced $140 million of pre-tax income representing 12% of revenue and delivered a third quarter record 2,296 homes. This resulted in a strong return on equity of 16%.”

Mr. Schottenstein added, “While market conditions remain volatile, we are confident in the long-term fundamentals of the housing industry. Our financial position is excellent, highlighted by Moody’s upgrade of our credit rating and the extension of our unsecured credit facility to 2030, with an increased borrowing capacity from $650 million to


$900 million. We ended the quarter with zero borrowings under this facility, a homebuilding debt-to-capital ratio of 18%, and a net debt-to-capital ratio of negative 1%. With our strong balance sheet, diverse product offerings, and well-located communities, we are well positioned as we enter the fourth quarter of 2025.”

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 continue to be available on our website through October 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 EndedNine Months Ended
September 30,September 30,
2025202420252024
New contracts1,908 2,023 6,278 6,825 
Average community count234 214 228 215 
Cancellation rate12%10%12%9%
Backlog units2,189 3,174 2,189 3,174 
Backlog sales value$1,210,790 $1,725,423 $1,210,790 $1,725,423 
Homes delivered2,296 2,271 6,620 6,653 
Average home closing price$477 $489 $477 $481 
Homebuilding revenue:
   Housing revenue$1,095,418 $1,111,389 $3,159,924 $3,199,946 
   Land revenue1,724 1,550 12,933 11,753 
Total homebuilding revenue$1,097,142 $1,112,939 $3,172,857 $3,211,699 
Financial services revenue34,649 29,970 97,619 87,694 
Total revenue$1,131,791 $1,142,909 $3,270,476 $3,299,393 
Cost of sales - operations854,122 833,468 2,453,405 2,397,329 
Cost of sales - impairment7,583 — 7,583 — 
Gross margin$270,086 $309,441 $809,488 $902,064 
General and administrative expense70,766 68,285 197,086 188,363 
Selling expense64,049 59,163 180,490 171,598 
Operating income$135,271 $181,993 $431,912 $542,103 
Interest income, net of interest expense
(4,548)(6,680)(14,122)(20,948)
Income before income taxes$139,819 $188,673 $446,034 $563,051 
Provision for income taxes33,329 43,224 107,064 132,795 
Net income$106,490 $145,449 $338,970 $430,256 
Earnings per share:
Basic$4.01 $5.26 $12.60 $15.45 
Diluted$3.92 $5.10 $12.32 $14.99 
Weighted average shares outstanding:
Basic26,544 27,644 26,895 27,857 
Diluted27,188 28,534 27,513 28,703 


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

As of
September 30,
20252024
Assets:
Total cash, cash equivalents and restricted cash (1)
$734,174 $719,920 
Mortgage loans held for sale239,585 242,812 
Inventory:
Lots, land and land development1,743,476 1,558,300 
Land held for sale9,231 3,859 
Homes under construction1,457,843 1,401,260 
Other inventory202,280 169,275 
Total Inventory$3,412,830 $3,132,694 
Property and equipment - net32,668 34,714 
Investments in joint venture arrangements81,514 63,095 
Operating lease right-of-use assets50,322 55,259 
Goodwill16,400 16,400 
Deferred income tax asset13,451 15,313 
Other assets188,600 179,650 
Total Assets$4,769,544 $4,459,857 
Liabilities:
Debt - Homebuilding Operations:
Senior notes due 2028 - net$398,233 $397,459 
Senior notes due 2030 - net297,747 297,243 
Total Debt - Homebuilding Operations$695,980 $694,702 
Notes payable bank - financial services operations231,979 235,441 
Total Debt$927,959 $930,143 
Accounts payable257,981 256,708 
Operating lease liabilities51,968 56,667 
Other liabilities382,187 370,983 
Total Liabilities$1,620,095 $1,614,501 
Shareholders’ Equity3,149,449 2,845,356 
Total Liabilities and Shareholders’ Equity$4,769,544 $4,459,857 
Book value per common share$120.44 $104.59 
Homebuilding debt to capital ratio (2)
18 %20%
(1)Includes $0.1 million of restricted cash and cash held in escrow for quarter ended September 30, 2025.
(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 EndedNine Months Ended
September 30,September 30,
2025202420252024
Cash provided by (used in) operating activities$43,414 $(67,942)$146,056 $75,341 
Cash used in investing activities$(15,452)$(17,496)$(30,698)$(45,037)
Cash used in financing activities$(94,186)$(32,100)$(202,754)$(43,188)
Land/lot purchases$115,372 $138,711 $363,106 $365,553 
Land development spending$181,320 $180,753 $421,927 $444,659 
Land sale revenue$1,724 $1,550 $12,933 $11,753 
Land sale gross profit
$163 $72 $4,151 $3,318 
Financial services pre-tax income$16,598 $12,936 $47,180 $39,648 



M/I Homes, Inc. and Subsidiaries
Non-GAAP Financial Results (1)
(Dollars in thousands)
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Net income$106,490 $145,449 $338,970 $430,256 
Add:
Provision for income taxes33,329 43,224 107,064 132,795 
Interest income - net(8,118)(10,089)(23,885)(30,542)
Interest amortized to cost of sales7,651 7,632 22,779 23,872 
Depreciation and amortization5,116 4,816 14,797 13,890 
Non-cash charges12,108 6,750 20,224 14,099 
Adjusted EBITDA$156,576 $197,782 $479,949 $584,370 

(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 EndedNine Months Ended
September 30,September 30,
%%
Region20252024Change20252024Change
Northern742 890 (17)%2,680 3,054 (12)%
Southern1,166 1,133 3 %3,598 3,771 (5)%
Total1,908 2,023 (6)%6,278 6,825 (8)%


HOMES DELIVERED
Three Months EndedNine Months Ended
September 30,September 30,
%%
Region20252024Change20252024Change
Northern942 1,015 (7)%2,735 2,809 (3)%
Southern1,354 1,256 8 %3,885 3,844 1 %
Total2,296 2,271 1 %6,620 6,653 — %


BACKLOG
September 30, 2025September 30, 2024
DollarsAverageDollarsAverage
RegionUnits(millions)Sales PriceUnits(millions)Sales Price
Northern1,081 $609 $563,000 1,493 $803 $538,000 
Southern1,108 $602 $544,000 1,681 $923 $549,000 
Total2,189 $1,211 $553,000 3,174 $1,726 $544,000 


LAND POSITION SUMMARY
September 30, 2025September 30, 2024
LotsLots UnderLotsLots Under
RegionOwnedContractTotalOwnedContractTotal
Northern7,140 10,843 17,983 6,528 10,885 17,413 
Southern17,268 15,374 32,642 17,114 17,678 34,792 
Total24,408 26,217 50,625 23,642 28,563 52,205