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 (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.
Meritage Homes Corporation (NYSE: MTH) reported strong second-quarter results for 2022, showcasing an 11% increase in home closing revenue to $1.4 billion, driven by a 13% rise in average sales price. Homes closed decreased by 2% to 3,221 units, while home orders surged by 6% to 3,767 units, reflecting a 21% increase in order value. Net earnings rose 49% to $250 million, with a diluted EPS of $6.77. The company achieved a record sales order volume and expanded its gross margin to 31.6%. Despite market softness and rising mortgage rates, Meritage remains positioned for growth with a solid backlog and effective cost management.
Meritage Homes Corporation (NYSE: MTH) will release its second quarter 2022 results on July 27, 2022, after market close. A conference call is scheduled for July 28, 2022, at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss these results, and will be available via webcast. Meritage is recognized as the seventh-largest public homebuilder in the U.S. and has delivered over 150,000 homes in its 36-year history, emphasizing a commitment to energy efficiency.
Meritage Homes (NYSE:MTH) announced its renewed partnership with Operation Homefront to provide mortgage-free homes to military families. For the ninth consecutive year, the company will donate three energy-efficient homes in Houston, Nashville, and Tucson, totaling 17 homes since the program's inception. Each home features modern designs and smart home technology. The initiative aligns with Meritage's commitment to assist military families transitioning to civilian life. The keys will be presented before Veterans Day 2022, and Operation Homefront will select the families receiving these homes.
Meritage Homes, a leading public homebuilder, has been awarded the ENERGY STAR® Partner of the Year for Sustained Excellence for the ninth time by the EPA. This accolade highlights the company's commitment to energy-efficient home construction, with 12,801 ENERGY STAR certified homes delivered in 2021 and an average HERS Index Score of 53. Additionally, Meritage received recognition at the 19th Annual Avid Awards, achieving the prestigious Avid Cup for customer service excellence. The company is noted for its commitment to sustainable building and high customer satisfaction ratings.
Meritage Homes Corporation (NYSE: MTH) reported strong Q1 2022 results, with net earnings rising 65% to $217 million and diluted EPS increasing 68% to $5.79. Home closing revenue grew 15% year-over-year to $1.245 billion, supported by a 12% rise in home orders to 3,874 units. The company maintained a robust balance sheet with a net debt-to-capital ratio of 16.9% and added over 4,100 lots in Q1. Despite facing labor and supply chain challenges, Meritage anticipates 14,500-15,500 home closings for the full year 2022, projecting revenue of $6.5-6.9 billion.
Meritage Homes, the seventh largest U.S. homebuilder, is partnering with the Arbor Day Foundation to distribute over 1,300 trees in various states, enhancing community resilience and sustainability. The initiative includes 18 regional tree planting events throughout 2022, targeting areas impacted by environmental factors. Concurrently, a survey reveals that 70% of consumers prioritize energy-efficient homes, indicating a strong market preference for sustainable living. Meritage is committed to meeting these demands with energy-efficient features in its homes.
Meritage Homes Corporation (NYSE:MTH) announced the hiring of Malissia Clinton as its new executive vice president, general counsel, and secretary, effective immediately. With almost 30 years of legal experience, Clinton previously served at The Aerospace Corporation and Northrop Grumman. CEO Phillippe Lord expressed confidence in her ability to enhance the company’s focus on risk management and governance. Clinton replaces C. Timothy White, who retired in December 2021. Meritage is recognized for its energy-efficient homes and has completed over 150,000 homes in 36 years.
Meritage Homes Corporation (MTH) plans to release its first quarter 2022 results on April 27, 2022, after the market closes. A conference call will follow on April 28, 2022, at 8:00 a.m. MST (11:00 a.m. EDT) to discuss the financials. The call will be available via webcast on the Company's Investor Relations page. Meritage is known for its focus on energy-efficient homebuilding and has been recognized with multiple awards for its innovations in this area.
Meritage Homes Corporation (NYSE:MTH) has announced its expansion into Salt Lake City, UT, marking its second new market entry in the past year. The company aims to sell affordable, energy-efficient homes starting in Q2 2023, following approved land acquisitions. CEO Phillippe Lord highlighted the area's growth potential and their confidence in establishing a successful presence. New communities will cater to entry-level buyers with smart technologies and curated design packages. Area president Darren Dupree will oversee operations, bringing over 20 years of homebuilding experience.
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