M/I Homes, Inc. (MHO) Q3 2025 Earnings Call Transcript

Operator

Good morning, ladies and gentlemen, and welcome to the M/I Homes’ Third Quarter Earnings Conference Call. [Operator Instructions] This call is being recorded on October 22, 2025.

I would now like to turn the conference over to Phil Creek. Please go ahead.

Phillip Creek
Executive VP, CFO & Director

Thank you for joining us today. On the call with me is Bob Schottenstein, our CEO; and President — and Derek Klutch, President of our Mortgage Company. First, to address regulation for our disclosure, we encourage you to ask any questions regarding issues that you consider material during this call, because we are prohibited from discussing significant nonpublic 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.

Robert Schottenstein
Chairman, President & CEO

Thanks, Phil. Good morning, and I, too, want to thank you all for joining us today. Despite the continued challenging market conditions and choppy, uneven demand environment, we had a very solid third quarter. We generated $140 million of pretax income though down 26% from last year’s record third quarter results. Our pretax income percentage was a very solid 12% of revenue with gross margins