M/I Homes Q4 Profit Misses Estimates; Revenue Up 3%

(RTTNews) - M/I Homes, Inc. (MHO) reported that its fourth-quarter adjusted earnings per share increased 19% to $1.57 from $1.32, a year ago. Analysts polled by Thomson Reuters expected the company to report profit per share of $1.69, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter revenue increased 3% to $742 million. Analysts expected revenue of $754.06 million for the quarter. Homes delivered increased 5% to 1,921 homes. New contracts increased 43% to 1,677 contracts. Backlog sales value increased 18% to $1.1 billion, and backlog units increased 22%.