M/I Homes Q2 2026: Record Contracts but Margin Squeeze Bites
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Record new contracts of 2,387 units signal demand resilience, but a 6% revenue slide and gross margin compression to 22% from 25% expose the pricing pressure hammering homebuilders in a tougher market.
Continue ReadingShow less
M/I Homes posted Q2 2026 revenue of $1.06 billion, coming in about 1.5% ahead of the $1.05 billion consensus estimate but still roughly 6% below the $1.11 billion it reported in Q2 2024. Earnings per share of $3.14 edged past the $3.125 estimate, a narrow beat that nonetheless keeps the company in positive territory against Wall Street expectations.
The headline demand figure is striking: a record 2,387 new contracts signals that buyers are still showing up despite a difficult environment for homebuilders. But the revenue decline and a gross margin that compressed from 25% to 22% year over year tell a harder story — M/I Homes is having to work harder, and likely offer more incentives or price concessions, to close those deals.
Sponsored
Are You Ready To Retire, Or Years Behind?
Most Americans suspect they're behind on retirement and never find out. Advisor.com's free matching tool pairs you in about three minutes with a vetted fiduciary advisor who can help you with investing, taxes, retirement, estate planning, and more. No minimums. No sales call. Find out where you stand.
Zooming out on the revenue trend, the quarterly pattern shows a business that has been running between roughly $920 million and $1.21 billion over the past nine quarters, with first quarters consistently softer. The Q2 2026 result of $1.06 billion sits at the lower end of that band, suggesting the pricing pressure flagged in margins is already showing up in the top line even as contract volumes hit a record high.
Mentioned: MHO