Welcome to our dedicated page for Meritage Homes Corporation news (Ticker: MTH), a resource for investors and traders seeking the latest updates and insights on Meritage Homes Corporation stock.
Meritage Homes Corporation (NYSE: MTH) is the fifth-largest public homebuilder in the United States, renowned for its innovative and energy-efficient homes. For over 30 years, Meritage has established a reputation for quality by building more than 85,000 homes, creating well over 80,000 satisfied homeowners. The company’s operations span three major regions: West, Central, and East, covering states such as Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Utah.
Meritage Homes focuses on two core business segments: homebuilding and financial services. The homebuilding segment is responsible for acquiring and developing land, constructing homes, marketing, and sales, as well as providing warranty and customer services. The financial services segment offers title and escrow, mortgage, and insurance services, contributing significantly to the company's revenues.
Meritage Homes is particularly noted for its 100% ENERGY STAR® certified homes, making it a leader in environmentally friendly construction. This commitment has earned the company prestigious awards like the U.S. Environmental Protection Agency’s ENERGY STAR® Partner of the Year for Sustained Excellence Award, which it has received for ten consecutive years, and the 2023 EPA Indoor airPLUS Leader Award.
The company’s latest updates include impressive third-quarter 2023 results, with home closings of 3,638 units, a 4% increase from the previous year. This led to home closing revenue of $1.6 billion and a gross margin of 26.7%. Executing its spec building strategy, Meritage achieved a record 96% backlog conversion rate, contributing to a diluted EPS of $5.98 for the quarter.
Meritage Homes continues to innovate and expand, recently announcing the pricing of $500 million in Convertible Senior Notes due in 2028. The proceeds will be used for general corporate purposes and to enhance financial stability. The company also maintains a strong focus on community and environmental stewardship, showcased by its Meritage Cares philanthropic efforts and partnerships with organizations like Operation Homefront.
For more information, visit Meritage Homes' official website.
Meritage Homes Corporation (NYSE: MTH) reported significant growth in its third quarter results for 2020, with home closing revenue reaching $1.13 billion, a 21% increase year-over-year. Homes closed surged by 24% to 3,004, while home orders jumped 71% to 3,851 units. Net earnings climbed 56% to $109.1 million, resulting in a diluted EPS of $2.84, up 59%. The company also announced projections for total home closings between 11,200-11,500 for the year, with expected revenue of up to $4.4 billion. Meritage's strategy of focusing on affordable homes contributed to its success.
Meritage Homes Corporation (NYSE: MTH) reported a remarkable 73% increase in total orders for July and August 2020, totaling 2,675 homes compared to 1,549 in 2019. Average monthly absorptions nearly doubled, reaching about six homes per community, despite order cancellations of 13% in 2020. The CEO highlighted ongoing strong demand, with expectations to set new records and acquire over 9,000 new lots this quarter. The company remains focused on delivering value despite rising material costs, aiming to preserve margins through efficiencies and price increases.
Meritage Homes Corporation (NYSE: MTH) reported robust second-quarter results for 2020, showing a 32% increase in home orders year-over-year and a 20% boost in home closing revenue, totaling $1.03 billion. The net earnings surged 78% to $90.7 million, leading to a diluted EPS of $2.38, an 82% increase. The company maintained a healthy balance sheet with $484.6 million in cash and a 20.4% net debt-to-capital ratio. Management forecasts full-year home closing revenue between $4.0-4.3 billion, projecting strong demand driven by low mortgage rates and shifting consumer preferences.
Meritage Homes has opened a new community named Archer Meadows in San Tan Valley, Arizona, featuring over 350 energy-efficient homes. Located near Highway 60, it offers modern amenities such as a pool, clubhouse, and playground. Home prices start in the low $250,000s, with various designs available, including three-, four-, and five-bedroom options. This development caters to first-time buyers and aims to deliver quality housing amid high local prices. Meritage continues to lead in energy-efficient homebuilding and has a history of over 125,000 homes built.
Meritage Homes Corporation (MTH), a leading U.S. homebuilder, will announce its second quarter 2020 results on July 22, 2020, after market close. A conference call is scheduled for July 23 at 7:30 a.m. Arizona Time (10:30 a.m. ET) to discuss these results. The call will be available via webcast, along with a slideshow, on the company's Investor Relations page. Meritage, recognized for its energy-efficient homebuilding, is the seventh-largest public homebuilder in the U.S., focusing on first-time and move-up buyers across multiple states.
Meritage Homes has unveiled two new affordable communities in the greater Nashville area: Taylor Landing and West End Station, with prices starting from the low $200,000s. Designed for first-time homebuyers, these communities feature modern amenities and energy-efficient homes ranging from 1,600 to 2,500 square feet. Taylor Landing offers a vibrant community setting near Columbia, while West End Station provides low-maintenance townhome living close to Lebanon's shopping districts. The homes include advanced automation and energy-saving features, with sales offices now open for prospective buyers.
Meritage Homes (NYSE: MTH) reported a decrease in April 2020 orders, totaling 775 compared to 916 in April 2019, reflecting a 20% cancellation rate versus 11% last year. Despite this, there was increased sales momentum in late April, which is expected to continue into May. The company emphasized that qualified buyers are leveraging low interest rates for home purchases. Meritage has a strong focus on first-time buyers and is noted for energy-efficient homebuilding practices. The company will present updates at the J.P. Morgan Homebuilding Conference on May 18, 2020.
Meritage Homes Corporation (NYSE: MTH) will present virtually at the J.P. Morgan Homebuilding & Building Products Conference on May 18, 2020, at 1:30 PM EDT. Investors can access the live webcast via the Investor Relations page. Meritage is recognized as the seventh-largest public homebuilder in the U.S., focusing on first-time and first move-up buyers across several states including Arizona, California, and Texas. The company has built over 125,000 homes in 35 years and is a leader in energy-efficient homebuilding, having received the U.S. Environmental Protection Agency’s ENERGY STAR Partner of the Year award since 2013.
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