Meritage Homes Corporation - MTH STOCK NEWS

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.

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.