Meritage Homes Corporation - MTH STOCK NEWS

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.

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.