Meritage Homes Corporation - MTH STOCK NEWS

Meritage Homes Corporation (NYSE: MTH) has announced the initiation of a recurring quarterly cash dividend of $0.27 per share, reflecting the Board of Directors' confidence in the company’s business strategy and performance. The first payment will occur on March 31, 2023, for shareholders of record as of March 15, 2023. CEO Phillippe Lord stated this decision underscores a commitment to returning capital to shareholders while maintaining growth opportunities, supported by strong cash flow generation and a robust balance sheet.

Meritage Homes Corporation (NYSE: MTH) reported its Q4 and full year 2022 results, showing revenue growth despite a decline in home orders. In Q4, homes closed increased by 29% to 4,540 units, generating a home closing revenue of $1.98 billion, a 32% increase year-over-year. However, home orders fell by 46%, totaling 1,808 units, primarily due to a 39% cancellation rate. Full year net earnings rose 35% to $992.2 million ($26.74 per diluted share). The company ended the year with $861 million in cash and a low debt-to-capital ratio of 6.8%. Despite challenges, management remains optimistic about 2023, emphasizing a strategy focused on affordable housing.

Meritage Homes Corporation (NYSE: MTH) is set to release its fourth quarter 2022 results on February 1, 2023, after market close. A conference call will follow on February 2, 2023, at 8:00 a.m. MST (10:00 a.m. EST) for management to discuss the financial outcomes. The call will be accessible via webcast. Meritage is recognized as one of the largest homebuilders in the U.S., focusing on affordable, energy-efficient homes and has received multiple EPA awards for its commitment to sustainability.

Meritage Homes, the seventh-largest homebuilder in the U.S., emphasizes its commitment to community through charitable initiatives. In 2022, the company donated over $1.1M via the Meritage Cares foundation, focusing on food insecurity, education, and sustainable forestry. Notable contributions include $160,000 to No Child Hungry and $100,000 for Hurricane Ian relief. Meritage also supports diversity and inclusion efforts with a $200,000 commitment, including scholarships for underrepresented groups. Their philanthropic involvement underscores the company's dedication to building better communities.

Meritage Homes Corporation (MTH) announced strong Q3 2022 results despite challenges in the housing market. Home closing revenue surged to $1.57 billion, a 25% increase year-over-year, with home sales up 12% to 3,487 units. However, home orders plummeted 33% to 2,310 units due to a cancellation rate of 30%. Net earnings rose 31% to $262.5 million, with diluted EPS climbing 35% to $7.10. Management anticipates Q4 closings between 4,300-4,700 homes, generating revenue of $1.85-$2.10 billion. Concerns about mortgage rates and economic stability linger.

Meritage Homes (NYSE:MTH), the seventh-largest public homebuilder in the U.S., has released its second annual Environmental, Social and Governance (ESG) report, alongside its first Task Force on Climate-Related Financial Disclosures (TCFD) report. This ESG report highlights sustainability practices, diversity efforts, and achievements in 2021. Key points include the delivery of 12,801 ENERGY STAR® certified homes, a focus on entry-level housing, and improvements in board diversity and cyber risk management. The company's commitment to long-term value emphasizes responsibility in corporate citizenry.

Meritage Homes Corporation (NYSE: MTH) is set to release its Q3 2022 results on October 26, 2022, after market close. A conference call will be held on October 27, 2022, at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss these results. The call will feature a live webcast available on the company's Investor Relations page. Meritage is a leading U.S. homebuilder, ranked seventh by homes closed in 2021, with operations in multiple states and a strong reputation for energy-efficient homebuilding.

Meritage Homes (NYSE:MTH) and Operation Homefront have teamed up to provide three military families with mortgage-free, energy-efficient homes. Each family will receive a new home in Houston, Nashville, and Tucson, with key presentations scheduled for early November, aligning with Veterans Day. The initiative underscores Meritage's commitment to supporting veterans and their families, providing them a foundation for stability and community integration. The homes come as part of Operation Homefront's Permanent Homes for Veterans program, which assists veterans in preparing for homeownership.