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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 Corporation (NYSE: MTH) reported record results for Q4 and full year 2021, with home closing revenue reaching $1.5 billion, up 6% year-over-year. Total homes closed for 2021 amounted to 12,801, an 8% increase from the previous year. Net earnings surged 56% to $237.5 million, translating to diluted EPS of $6.25. The company anticipates 14,500-15,500 home closings in 2022, driving projected revenue of $6.1-6.5 billion. Additionally, Meritage is focusing on entry-level markets, reflecting favorable trends among millennials and baby boomers.
Meritage Homes Corporation (NYSE: MTH) will release its fourth quarter 2021 results on January 26, 2022, after market close. A conference call is scheduled for January 27, 2022, at 8:00 a.m. MST to discuss the results, with a live webcast available on the company's Investor Relations page. As the sixth-largest public homebuilder in the U.S., Meritage focuses on entry-level and first move-up buyers across multiple states. The company has a strong reputation for energy efficiency, recognized as an EPA ENERGY STAR Partner of the Year for eight consecutive years.
Meritage Homes announces its commitment to community through charitable contributions totaling over $1 million in 2021. The company provided significant support for Afghan refugees, funding educational initiatives with $1.6 million, and donating $300,000 to the Arbor Day Foundation for tree planting. Other efforts include $220,000 to local non-profits supporting families and veterans, alongside DE&I initiatives, showcasing its role as a responsible homebuilder.
Meritage Homes (NYSE:MTH) announced the appointment of Louis E. Caldera as an independent director, expanding its Board of Directors to 11 members. Caldera has a distinguished background in military and education leadership, formerly serving as Secretary of the Army and Director of the White House Military Office. His experience aligns with the company's commitment to building energy-efficient homes for entry-level buyers. The Board intends to evaluate his committee placements in future meetings.
Footprint, Inc. has appointed Hilla Sferruzza as an independent board member. Sferruzza has extensive experience in finance, having served as CFO of Meritage Homes Corporation since 2016, and was previously with Starwood Hotels and KPMG. Her expertise is seen as vital for Footprint's growth, particularly in sustainability and innovation in reducing single-use plastics. The company underscores its commitment to eco-friendly solutions, having redirected 61 million pounds of plastic waste globally. Footprint continues to expand its operations across various regions.
Meritage Homes Corporation (NYSE:MTH) has released its inaugural Environmental, Social, and Governance (ESG) report to enhance transparency regarding its sustainability initiatives. The report highlights key metrics from 2020, including the delivery of over 10,600 ENERGY STAR® certified homes and the introduction of the Indoor airPLUS certification. Additionally, the company has made strides in diversity, equity, and inclusion, achieving a 94% employee satisfaction rate. Meritage plans to provide annual ESG updates and aims to align its strategy with long-term stakeholder value.
Meritage Homes (NYSE:MTH) partnered with Operation Homefront to provide a mortgage-free, energy-efficient home to Navy Petty Officer First Class Garfield Johnson and his family in Zephyrhills, Florida. This initiative is part of the 'Permanent Homes for Veterans' program, which has assisted over 700 military families. The new four-bedroom home features advanced energy-efficient amenities and personal touches for the Johnson family. Meritage has constructed and donated 14 homes through this program, reflecting their commitment to supporting military families.
Meritage Homes Corporation (NYSE: MTH) reported strong third quarter results for 2021, highlighting a 10% increase in home closing revenue to $1.25 billion and an 84% rise in net earnings to $200.75 million. The company closed 3,112 homes, marking its highest third-quarter performance ever. However, home orders fell 11% year-over-year, reflecting production constraints. The average sales price for closed homes rose to $402,000. Management projects 12,600-12,900 home closings for the full year, with expected revenue of $5.05-5.15 billion.
Meritage Homes Corporation (NYSE: MTH) will release its third quarter 2021 results on October 27, 2021, after market close. A conference call will follow on October 28, 2021, at 8:00 a.m. Pacific Time, available via webcast on the company's Investor Relations page. Meritage, the sixth-largest public homebuilder in the U.S., focuses on entry-level and first move-up buyers. The company has delivered over 140,000 homes and is recognized for its energy-efficient building practices, receiving multiple ENERGY STAR® Partner of the Year awards.
Meritage Homes (NYSE:MTH) partnered with Operation Homefront to provide a mortgage-free home to a military family as part of the Permanent Homes for Veterans program. The Johnson family will receive a new 1,840 square-foot home in Zephyrhills, FL, in November 2021. This initiative honors military families, having provided over 700 homes since 2012. Meritage continues to emphasize energy efficiency and modern features in its homes, reinforcing its commitment to community support and veteran assistance.
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