M/I Homes, Inc. (MHO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the MI Home Second Quarter Earnings Conference Call. At this time, our lines are in listen-only mode. Following the presentation, we will conduct 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, 23rd, 2025. I will now turn the conference over to Phil Creek. Please go ahead. Thank you. Joining me on the call today is Bob Schottenstein, our CEO and President, and Derek Flutch, President of our mortgage company. First, to address regulation and 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, 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 it over to Bob. Thanks, Phil. Good morning, and thank you for joining us. As outlined in today's release, MI Homes had a very solid second quarter. highlighted by record second quarter revenue, record second quarter homes delivered, and continued strong returns, including 25% gross margins, 14% pre-tax income, and a 17% return on equity. We were very pleased to post these results given the challenging macroeconomic backdrop. When we last spoke on our first quarter earnings call, we commented on the demand challenges we faced during the last half of 2024, as well as during the first quarter of this year. Little has ch...