Welcome to our dedicated page for Meritage Homes news (Ticker: MTH), a resource for investors and traders seeking the latest updates and insights on Meritage Homes 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, the fifth largest public homebuilder in the U.S., continues its partnership with Operation Homefront's Permanent Homes for Veterans program for the 11th consecutive year.
In 2024, Meritage will donate two mortgage-free, energy-efficient homes to veteran families in Austin, TX, and Charlotte, NC, increasing their total donations to 20 homes.
The homes feature open-concept floorplans, designer-curated interiors, and smart home systems. The Austin home, over 1,300 square feet, has three bedrooms and two baths, while the Charlotte home, nearly 2,700 square feet, has five bedrooms and three baths. The homes are located in amenity-rich communities, with groundbreakings set for May and June, and ceremonies in November.
This initiative underscores Meritage's commitment to supporting military families.
Meritage Homes (NYSE: MTH) has announced a quarterly cash dividend of $0.75 per share. This dividend will be paid on June 28, 2024, to shareholders who hold shares at the close of trading on June 14, 2024.
Meritage Homes is the fifth-largest homebuilder in the U.S.
Meritage Homes has completed an offering of 1.75% Convertible Senior Notes, raising $575 million, with an additional $75 million purchased by initial buyers. The offering was made to qualified institutional buyers under Rule 144A. The notes, guarantees, and shares are not registered under the Securities Act and are not expected to be. This is not an offer to sell, nor a solicitation to buy these securities.
Meritage Homes has announced the pricing of $500 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2028. The sale is expected to result in approximately $484.8 million in net proceeds to Meritage. The company intends to use the proceeds for capped call transactions, redeeming outstanding 6.00% Senior Notes due 2025, and general corporate purposes.
Meritage Homes has announced that it is commencing an offering of $500 million in Convertible Senior Notes due 2028, with additional notes available. The notes will be senior, unsecured obligations of the Company and will be guaranteed by its subsidiaries. Interest on the notes will be payable semi-annually. The Company plans to use the proceeds for capped call transactions, redeeming existing notes, and general corporate purposes.
Meritage Homes (NYSE: MTH) will host a two-part series of investor day webcast calls covering key strategic topics like a new business model, long-term targets, land financing updates, and capital allocation. The calls will feature chief executive officer Phillippe Lord and chief financial officer Hilla Sferruzza, with guest hosts equity analysts Alan Ratner and Stephen Kim. Registration is required for the calls, which will include a question-and-answer session for participants.
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