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 Corporation (NYSE: MTH) reported a strong first quarter for 2021, with a 25% increase in homes closed (2,890 units) and a 21% rise in home closing revenue to $1.08 billion compared to Q1 2020. Notably, net earnings surged 85% to $131.8 million, resulting in diluted EPS of $3.44, an 88% increase. The company saw a 47% rise in ending backlog (5,240 units) and secured over 5,900 new lots, expanding its market presence. Management projects between 11,700-12,700 annual home closings and total revenues of $4.55-4.85 billion for the full year.
Meritage Homes Corporation (NYSE: MTH) announced the successful closing of $450 million in 3.875% senior notes, maturing April 15, 2029, generating approximately $444 million in net proceeds.
A significant portion of these proceeds will be utilized to redeem $300 million of the company's 7.00% Senior Notes due 2022. The notes were placed under Rule 144A and Regulation S of the Securities Act, targeting qualified institutional buyers.
Meritage Homes Corporation (NYSE: MTH) announced the pricing of $450 million in 3.875% Senior Notes due 2029, increasing the original amount by $50 million. The offering targets qualified institutional buyers under Rule 144A of the Securities Act and Regulation S for international buyers. The closing date for this private placement is set for April 15, 2021. This announcement is not an offer to sell or solicit purchases of securities, which will not be registered under the Securities Act and cannot be sold in the U.S. without proper registration or exemption.
Meritage Homes Corporation (NYSE: MTH) announced plans to offer $400 million of senior unsecured notes due 2029 to qualified institutional buyers. The proceeds will partially fund the redemption of $300 million in existing 7.00% senior notes maturing in 2022. These new notes will be unsecured obligations that rank equally with other senior debt. As the final terms are negotiated, investors should note potential risks including fluctuating interest rates and market conditions that could impact the company's financial stability and stock performance.
Meritage Homes Corporation (NYSE: MTH) will release its first quarter 2021 results on April 28, 2021, after market close. A conference call to discuss these results is scheduled for April 29, 2021, at 8:00 a.m. PT (11:00 a.m. ET), accessible via webcast on the company’s investor relations page. Meritage, the sixth-largest public homebuilder in the U.S., focuses on providing homes for first-time and move-up buyers, delivering over 135,000 homes in its 36-year history. The company has a strong reputation for energy-efficient homebuilding.
Meritage Homes Corporation (NYSE: MTH) has announced the appointment of CEO Phillippe Lord to its board of directors, effective February 17, 2021, expanding board membership to 10. Mr. Lord, who took over as CEO on January 1, 2021, succeeding Steven J. Hilton, aims to leverage strong 2020 performance to enhance shareholder value. Lead independent director Peter Ax expressed optimism about Mr. Lord's leadership during this pivotal time, emphasizing the company's commitment to long-term growth and sustainability initiatives.
Meritage Homes Corporation (NYSE: MTH) reported strong fourth quarter and full year 2020 results, with home closings rising 32% to 3,744 units and revenue increasing by 28% to $1.4 billion.
The company closed 11,834 homes for the year, a 28% increase, generating total revenue of $4.5 billion, up 24%. Earnings per share surged 50% in Q4 to $3.97, and net earnings rose 47% to $152.5 million. Meritage's backlog increased by 68%, reaching nearly 4,700 units.
Looking ahead, the company projects 2021 closings between 11,500-12,500 homes, with anticipated revenue of $4.2-4.6 billion.
Meritage Homes (NYSE: MTH) will release its fourth quarter 2020 results on January 27, 2021, after market close. A conference call is scheduled for January 28, 2021, at 7:30 a.m. Arizona Time (9:30 a.m. Eastern Time) to discuss the results, which will be available via webcast. Meritage is the seventh-largest public homebuilder in the U.S., focused on first-time and move-up buyers, having built over 135,000 homes in its 35-year history. The company is recognized for its energy-efficient homebuilding.
Meritage Homes Corporation (NYSE: MTH) will announce its fourth quarter 2020 results on January 27, 2021, after market close. A conference call is scheduled for January 28, 2021, at 7:00 a.m. Arizona Time, to discuss the earnings. The call will be accessible via live webcast and telephone. Meritage, recognized as the seventh-largest U.S. public homebuilder, focuses on first-time buyers and has built over 135,000 homes in 35 years, earning accolades for energy-efficient construction.
Meritage Homes, a leading U.S. homebuilder, announced a total donation of $750,000 in 2020 through its charitable foundation, Meritage Cares. This initiative supports various non-profits tackling COVID-19 impacts, hunger, homelessness, and promoting racial equity. Key contributions included $250,000 to Feeding America for food security and $100,000 to Americares for health programs. The company emphasizes corporate giving as essential for fostering healthy communities, reflecting a commitment to diversity and community service.
FAQ
What is the current stock price of Meritage Homes Corporation (MTH)?
What is the market cap of Meritage Homes Corporation (MTH)?
What is Meritage Homes Corporation known for?
In which regions does Meritage Homes operate?
How many homes has Meritage Homes built?
What are the core business segments of Meritage Homes?
What recent financial achievements has Meritage Homes reported?
What awards has Meritage Homes received?
What philanthropic efforts is Meritage Homes involved in?
What is the significance of Meritage Homes’ 100% ENERGY STAR® certification?
How does Meritage Homes support its buyers financially?
Where can I find more information about Meritage Homes?
