MHO (42.45) posts Q3 EPS of $2.51, crushing estimates for $1.44 -
It's my 2nd largest holding after CCS and I'll be accumulating on weakness .... this recent correction in the homebuilders is a nice buying opportunity, imho.
briefing -
M/I Homes beats by $1.07, beats on revs (42.45 ) :
Reports Q3 (Sep) earnings of $2.51 per share, $1.07 better than the two analyst estimate of $1.44; revenues rose 29.8% year/year to $847.92 mln vs the $668.17 mln two analyst estimate.
Homes delivered in 2020's third quarter increased 29% to a record 2,137. This compares to 1,651 homes delivered in 2019's third quarter.
New contracts for the third quarter of 2020 were a record 2,949, a 71% increase over 2019's 1,721.
Homes in backlog at September 30, 2020 had a total sales value of $1.8 billion, a 60% increase from a year ago. Backlog units at September 30, 2020 increased 54% to a record 4,503 homes, with an average sales price of $404,000.
