M/I Homes, Inc. (MHO) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the MI Homes First Quarter Earnings Conference Call. At this time, our lines are in a listen-only mode. Following the presentation, we'll conduct a question and answer session. If at any time during this call you need assistance, please press star zero for the operator. This call is being recorded on Wednesday, April 23, 2025. I would now like to turn the conference over to Mr. Phil Creek. Please go ahead. Thank you for joining us. With me on the call is Bob Schottenstein, our CEO and President, and Derek Clutch, President of our mortgage company. First, to address regulation fair disclosure, we encourage you to ask any questions regarding issues that you consider material during this call because we are prohibited from discussing significant non-public items with you directly. And as to forward-looking statements, I want to remind everyone that the cautionary language about forward-looking statements contained in today's press release also applies to any comments made during this call. Also, be advised that the company undertakes no obligation to update any forward-looking statements made during this call. With that, I'll turn the call over to Bob. Thanks, Phil. Good morning, everyone, and thank you for joining us. In a first quarter dominated by rapidly changing and mostly challenging macroeconomic conditions, MI Homes posted very solid results. We appreciate the opportunity to share our results with you. Before we do, however, I want to address more specifically the macro environment and how it has impacted the housing industry and our business. When we last spoke sharing our 2024 year-end record-setting results, we commented then on the changing economic conditions and demand challenges we faced, particularly dur...