M/I HOMES Business Summary

M/I Homes, Inc. (MHO) operates a vertically integrated business model, generating the vast majority of its revenue through the design, construction, and sale of single-family homes and townhomes, supplemented by a high-capture financial services segment that provides mortgage banking and title services. The company’s homebuilding operations are geographically diversified into Northern (Midwest and Mid-Atlantic) and Southern (Florida, Texas, North Carolina, and Tennessee) segments, with a strategic emphasis on its "Smart Series" product line, which targets the entry-level and move-up market and accounts for approximately half of total sales. In a competitive landscape featuring national giants like D.R. Horton, Lennar Corporation, and PulteGroup, M/I Homes distinguishes itself as a top-tier mid-market builder, leveraging its integrated financing arm and disciplined land acquisition to maintain a strong regional presence while competing on affordability and construction quality. Founded in 1976 by Irving and Melvin Schottenstein, the company is currently led by Robert H. Schottenstein, who has served as Chairman, CEO, and President for over two decades, overseeing its expansion into 17 major markets. The executive leadership team includes Phillip G. Creek, Executive Vice President and CFO, and Susan E. Krohne, Senior Vice President and Chief Legal Officer, both of whom bring extensive experience in corporate finance and real estate law. The Board of Directors features prominent figures such as Nancy J. Kramer, founder of Resource/Ammirati, and Michael P. Glimcher, Principal of Glimcher Legacy. As a publicly traded entity on the NYSE, M/I Homes maintains a stable institutional investor base led by The Vanguard Group and BlackRock, alongside significant insider ownership by the Schottenstein family, ensuring long-term strategic alignment.