Meritage Homes Corp Stock Price, News & Analysis

Meritage Homes (NYSE: MTH), the fifth largest public homebuilder in the U.S., has announced its plans to release its third quarter 2024 financial results on Tuesday, October 29, 2024, after the market closes. The company will host a conference call and webcast to discuss these results on Wednesday, October 30, 2024, at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time).

Investors and interested parties can access the live webcast through Meritage's Investor Relations page or dial in to 1-877-407-6951 (U.S. toll-free) or 1-412-902-0046. A replay of the conference call will be available on the company's Investor Relations page for those unable to attend the live event.

Meritage Homes (MTH) and Operation Homefront have selected two military veterans to receive mortgage-free, energy-efficient homes near Austin, TX and Charlotte, NC. The homes will be presented in November, celebrating Veterans Day and Military Appreciation Month. Marine Corps veteran Lance Cpl. Eziyah Sims will receive a 1,300+ sq ft home in Kyle, TX, while Navy veteran Petty Officer 2nd Class Lt. Aaliyah King (Williams) will get a nearly 2,700 sq ft home in Stanley, NC.

The recipients will enter Operation Homefront's Permanent Homes for Veterans program, which provides financial counseling and caseworker support to prepare for homeownership. This initiative aims to help military families establish strong foundations and thrive in their communities after service.

Meritage Homes (NYSE: MTH), the fifth largest homebuilder in the U.S., has released its fourth annual Environmental, Social, and Governance (ESG) Report for 2023. The report highlights the company's progress in sustainability and social initiatives, adhering to recognized reporting frameworks. Key achievements include:

Environmental: Delivered 13,308 ENERGY STAR® certified homes with an average HERS Index score of 52, earning the ENERGY STAR® Partner of the Year award for the eleventh time.

Social: Achieved Great Place to Work® certification, launched employee resource groups, and won the Avid Cup – Production award for customer satisfaction for the third consecutive year. Meritage also received the Hearthstone BUILDER Humanitarian Award for its philanthropic efforts.

Meritage Homes (NYSE: MTH), the fifth-largest homebuilder in the U.S., has announced a quarterly cash dividend of $0.75 per share. The dividend will be payable on September 30, 2024 to shareholders of record as of the close of trading on September 16, 2024. This announcement demonstrates Meritage's commitment to returning value to its shareholders and reflects the company's financial stability in the competitive homebuilding market.

James Hardie Building Products Inc. (NYSE: JHX) has announced a multi-year exclusive agreement with Meritage Homes (NYSE: MTH), the fifth-largest public homebuilder in the U.S. This deal makes Hardie® siding and trim products standard on every new Meritage home where hard siding is installed across the U.S. through 2027.

The collaboration aims to provide Meritage homebuyers with durable, non-combustible, and pest-resistant siding that offers protection against extreme weather. James Hardie's products also provide a wide range of design options. This partnership aligns with Meritage's mission to build innovative and sustainable homes, leveraging James Hardie's manufacturing footprint and Meritage's national coverage.

Meritage Homes, the fifth largest public homebuilder in the U.S., has been certified as a Great Place to Work® for the second consecutive year. The certification is based on a survey where 94% of participating Meritage employees affirmed it's a great place to work, compared to 57% at typical U.S. companies. To further support its employees, Meritage has launched the Meritage Cares Assistance Fund, providing tax-advantaged financial aid for eligible employees facing hardships. The company is currently assisting employees impacted by Hurricane Beryl. Additionally, Meritage established three employee resource groups in late 2023 to promote belonging and create connections among employees.

Meritage Homes (NYSE: MTH) reported its Q2 2024 results with notable growth. Home closings increased by 18% year-over-year (YoY) to 4,118 units, generating $1.7 billion in revenue, up 10%. Despite a 7% decrease in average sales price (ASP) on closings to $411K due to product and geographic mix, gross margins improved to 25.9%, driven by lower costs and shorter construction cycles.

Net earnings rose 24% YoY to $231.6 million, translating to diluted EPS of $6.31 (+26%). Orders increased by 14% YoY to 3,799 units. The ending backlog fell 28% YoY to 2,714 units. Meritage's effective tax rate was 22.1%, benefiting from energy tax credits.

For the first half of 2024, home closing revenue increased by 13% to $3.2 billion, and net earnings rose 31% to $417.6 million. The company ended Q2 with cash of $992.9 million, and a net debt-to-capital ratio of 6.2%.

The company updated its 2024 guidance, expecting home closing revenue of $6.1-6.3 billion and diluted EPS of $19.80-21.00.

Meritage Homes, the fifth largest public homebuilder in the U.S., has been named ENERGY STAR® Partner of the Year by the EPA for 11 consecutive years. The company has built over 126,000 ENERGY STAR certified homes since 2009. Meritage also won the Avid Awards for customer satisfaction across multiple divisions and received the President's Volunteer Service Award for its philanthropic efforts with No Child Hungry. Additionally, the company was recognized as one of America's Greenest Companies by Newsweek, a Climate Leader by USA Today, and included in Forbes’ list of Most Successful Mid-Cap Companies. Lastly, U.S. News & World Report named Meritage among the Best Companies to Work For in Construction and in the West.

Meritage Homes (NYSE: MTH), the fifth largest public homebuilder in the U.S., announced it will release its second quarter 2024 financial results on July 24, 2024, following the market close. The company will host a conference call to discuss these results on July 25, 2024, at 8:00 a.m. PT (11:00 a.m. ET). Investors can access the live webcast through Meritage's Investor Relations page or dial in using the provided numbers. A replay will also be available on the Investor Relations page.