# M/I Homes Q3 Profit Falls 37% on Soft Demand

> M/I Homes shares climb 14% despite 37% profit drop as market conditions worsen.
- Title: M/I Homes Q3 Profit Falls 37% on Soft Demand · BigGo Finance
- Summary: M/I Homes shares climb 14% despite 37% profit drop as market conditions worsen. M/I Homes reported 37% lower Q3 profit but shares rose 14.5% due to strong…
- Keywords: m/i homes, q3 2026, profit, share price, mortgage rates, homebuilder, revenue, net income, deliveries, new contracts, finance, markets
- Source: BigGo Finance — https://finance.biggo.com/news/611443e3-4d6a-4962-9f52-c2d747d3b893
- Author: BigGo Finance
- Published: 2026-10-21T18:28:09+00:00
- Read time: 1 min
- Topics: m/i homes, q3 2026, profit, share price, mortgage rates, homebuilder, revenue, net income, deliveries, new contracts, finance, markets
## Q3 Profit Falls 37%
M/I Homes reported third-quarter adjusted earnings of $2.70 per share and revenue of $1.076 billion, both below analyst estimates.
## Net Income Drops 37%
Net income fell to $66.6 million from $106.5 million in the same period of 2025, a decline of about 37%.
## Shares Climb 14.5%
Shares jumped about 14.5% in premarket trading due to record shareholders' equity of $3.3 billion and strong balance sheet metrics.
## Regional Performance Diverges
Northern markets added 1% in new contracts to 746 and 1% in deliveries to 949, while Southern markets declined 4% in contracts to 1,115 and 5% in deliveries to 1,292.
## Market Conditions Worsen
Chief Executive Robert H. Schottenstein cited increasingly difficult market conditions including higher mortgage rates and weaker demand.
## Strong Balance Sheet
M/I Homes reported record shareholders' equity of $3.3 billion, book value of $129.94 per share, $620.6 million in cash, and an 18% debt-to-capital ratio.
## What Happens Next
The trajectory of mortgage rates and Southern demand will determine whether the premarket share jump holds.
## Key takeaway

M/I Homes reported 37% lower Q3 profit but shares rose 14.5% due to strong balance sheet metrics.