M/I Homes, Inc.NYSE: MHO

Third Quarter 2026 Non-GAAP Reconciliation

· Issued by M/I Homes, Inc.

Summary by 6ix AI

M/I Homes, a homebuilder, published non-GAAP figures (adjusted measures outside standard accounting rules) that add back inventory charges. For the three months ended September 30, 2026, net income was $66,553 thousand and diluted earnings per share were $2.56. Adjusted diluted earnings per share were $2.70, compared with $4.14 a year earlier.

Key details

  • Adjusted net income was $70,171 thousand for the three months ended September 30, 2026, compared with $112,481 thousand for the same period of 2025, when net income was $106,490 thousand.
  • Inventory charges were $4,723 thousand before tax in the third quarter of 2026, or $3,618 thousand net of tax ($0.14 per diluted share). In the third quarter of 2025 they were $7,583 thousand before tax, or $5,991 thousand net of tax.
  • Income before income taxes was $86,876 thousand for the third quarter of 2026, compared with $139,819 thousand a year earlier. Adjusted for inventory charges, it was $91,599 thousand, compared with $147,402 thousand.
  • For the nine months ended September 30, 2026, net income was $213,453 thousand, compared with $338,970 thousand a year earlier. Diluted earnings per share were $8.14, compared with $12.32, and adjusted diluted earnings per share were $8.40, compared with $12.54.
  • Diluted weighted average shares outstanding were 25,949 thousand in the third quarter of 2026, compared with 27,188 thousand a year earlier.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/mi-homes-third-quarter-2026-non-gaap-reconciliation

Watch M/I Homes explain itM/i Homes (NYSE:MHO) Q3 2026 Earnings Call · Replay · Oct 21, 2026 · From 1:19 · Market Conditions and Third-Quarter Performance
M/I Homes, Inc. and Subsidiaries Non-GAAP Reconciliation (1)

(Dollars and shares in thousands, except per share amounts)

Three Months Ended Nine Months Ended September 30, September 30,

2026

2025

2026

2025

Income before income taxes

$ 86,876

$ 139,819

$ 280,610

$ 446,034

Add: Inventory charges (2)

4,723

7,583

8,923

7,583

Adjusted income before income taxes

$ 91,599

$ 147,402

$ 289,533

$ 453,617

Net income

$ 66,553

$ 106,490

$ 213,453

$ 338,970

Add: Inventory charges - net of tax (2)

3,618

5,991

6,788

5,991

Adjusted net income

$ 70,171

$ 112,481

$ 220,241

$ 344,961

Inventory charges - net of tax (2)

$ 3,618

$ 5,991

$ 6,788

$ 5,991

Divided by: Diluted weighted average shares outstanding

25,949

27,188

26,233

27,513

Diluted earnings per share related to inventory charges (2)

$ 0.14

$ 0.22

$ 0.26

$ 0.22

Add: Diluted earnings per share

2.56

3.92

8.14

12.32

Adjusted diluted earnings per share

$ 2.70

$ 4.14

$ 8.40

$ 12.54

  1. We believe these non-GAAP financial measures are relevant and useful to investors in understanding our operations and may be helpful in comparing us with other companies in the homebuilding industry to the extent they provide similar information. These non-GAAP financial measures should be used to supplement our GAAP results in order to provide a greater understanding of the factors and trends affecting our operations.

  2. Represents the related charges divided by diluted weighted average shares outstanding during the respective period as presented in the Summary Statement of Income.

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