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.
FAQ
What is the current stock price of Meritage Homes Corporation (MTH)?
What is the market cap of Meritage Homes Corporation (MTH)?
What is Meritage Homes Corporation known for?
In which regions does Meritage Homes operate?
How many homes has Meritage Homes built?
What are the core business segments of Meritage Homes?
What recent financial achievements has Meritage Homes reported?
What awards has Meritage Homes received?
What philanthropic efforts is Meritage Homes involved in?
What is the significance of Meritage Homes’ 100% ENERGY STAR® certification?
How does Meritage Homes support its buyers financially?
Where can I find more information about Meritage Homes?
