M/I Homes Q2 Net Income Rises

M/I Homes, Inc. (MHO) reported that its second quarter net income increased 27% to $137 million or $4.79 per share from $108 million or $3.58 per share, prior year. Revenue increased 8% to $1.0 billion. Homes delivered decreased 6% to 2,133.

Robert Schottenstein, CEO, said: "During the quarter, we began experiencing a moderation in demand due to the unprecedented rapid rise in interest rates and continued inflationary pressures across the economy. Clearly, there is growing uncertainty on a number of fronts and choppy market conditions may persist for some time."

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