Street Calls of the Week
COLUMBUS - M/I Homes, Inc. (NYSE:MHO), a homebuilder with a market capitalization of $4.02 billion, announced Friday it has amended its credit agreement, increasing its borrowing availability from $650 million to $900 million and extending the maturity to September 2030.
The homebuilder reported no outstanding borrowings under the credit facility at the time of closing. According to the company’s statement, M/I Homes maintained a cash position of $800 million as of June 30, 2025, with homebuilding debt-to-capital ratio of 18% and a net debt-to-capital ratio of negative 3%. InvestingPro data shows the company maintains a healthy current ratio of 7.49x, indicating strong liquidity position.
"Extending our credit facility to a five-year term and the $250 million of increased commitment amounts from our lenders provides additional liquidity and financial flexibility," said Robert H. Schottenstein, Chief Executive Officer and President of M/I Homes, in the press release.
M/I Homes operates in multiple markets across the Midwest, Southeast, and Southwest United States, including Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee.
The company’s announcement comes as homebuilders navigate a challenging housing market affected by elevated mortgage rates and economic uncertainties. The expanded credit facility provides M/I Homes with increased financial resources for potential future operations.
This article is based on information from a company press release.
In other recent news, M/I Homes reported its second-quarter earnings for 2025, achieving a record revenue of $1.2 billion. This figure surpassed expectations by 7.14%, although earnings per share (EPS) matched forecasts at $4.42, showing a decrease from the previous year. The company’s financial performance has been noteworthy despite a challenging macroeconomic environment. Additionally, S&P Global Ratings revised its outlook on M/I Homes to positive from stable, affirming the company’s ratings. This revision is attributed to the company’s strong credit metrics, low net debt, and robust balance sheet. M/I Homes has maintained its credit quality during the current market downturn, showcasing stability amid volatility in the homebuilding industry. These recent developments highlight the company’s ability to navigate economic challenges while maintaining investor confidence.
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