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Meritage Homes Corporation - MTH STOCK NEWS

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.

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Meritage Homes, the fifth largest public homebuilder in the U.S., has been named ENERGY STAR® Partner of the Year by the EPA for 11 consecutive years. The company has built over 126,000 ENERGY STAR certified homes since 2009. Meritage also won the Avid Awards for customer satisfaction across multiple divisions and received the President's Volunteer Service Award for its philanthropic efforts with No Child Hungry. Additionally, the company was recognized as one of America's Greenest Companies by Newsweek, a Climate Leader by USA Today, and included in Forbes’ list of Most Successful Mid-Cap Companies. Lastly, U.S. News & World Report named Meritage among the Best Companies to Work For in Construction and in the West.

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Meritage Homes (NYSE: MTH), the fifth largest public homebuilder in the U.S., announced it will release its second quarter 2024 financial results on July 24, 2024, following the market close. The company will host a conference call to discuss these results on July 25, 2024, at 8:00 a.m. PT (11:00 a.m. ET). Investors can access the live webcast through Meritage's Investor Relations page or dial in using the provided numbers. A replay will also be available on the Investor Relations page.

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Meritage Homes, the fifth largest public homebuilder in the U.S., continues its partnership with Operation Homefront's Permanent Homes for Veterans program for the 11th consecutive year.

In 2024, Meritage will donate two mortgage-free, energy-efficient homes to veteran families in Austin, TX, and Charlotte, NC, increasing their total donations to 20 homes.

The homes feature open-concept floorplans, designer-curated interiors, and smart home systems. The Austin home, over 1,300 square feet, has three bedrooms and two baths, while the Charlotte home, nearly 2,700 square feet, has five bedrooms and three baths. The homes are located in amenity-rich communities, with groundbreakings set for May and June, and ceremonies in November.

This initiative underscores Meritage's commitment to supporting military families.

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Meritage Homes (NYSE: MTH) has announced a quarterly cash dividend of $0.75 per share. This dividend will be paid on June 28, 2024, to shareholders who hold shares at the close of trading on June 14, 2024.

Meritage Homes is the fifth-largest homebuilder in the U.S.

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Meritage Homes has completed an offering of 1.75% Convertible Senior Notes, raising $575 million, with an additional $75 million purchased by initial buyers. The offering was made to qualified institutional buyers under Rule 144A. The notes, guarantees, and shares are not registered under the Securities Act and are not expected to be. This is not an offer to sell, nor a solicitation to buy these securities.

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Meritage Homes has announced the pricing of $500 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2028. The sale is expected to result in approximately $484.8 million in net proceeds to Meritage. The company intends to use the proceeds for capped call transactions, redeeming outstanding 6.00% Senior Notes due 2025, and general corporate purposes.

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Meritage Homes has announced that it is commencing an offering of $500 million in Convertible Senior Notes due 2028, with additional notes available. The notes will be senior, unsecured obligations of the Company and will be guaranteed by its subsidiaries. Interest on the notes will be payable semi-annually. The Company plans to use the proceeds for capped call transactions, redeeming existing notes, and general corporate purposes.

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Meritage Homes (NYSE: MTH) will host a two-part series of investor day webcast calls covering key strategic topics like a new business model, long-term targets, land financing updates, and capital allocation. The calls will feature chief executive officer Phillippe Lord and chief financial officer Hilla Sferruzza, with guest hosts equity analysts Alan Ratner and Stephen Kim. Registration is required for the calls, which will include a question-and-answer session for participants.

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Meritage Homes, the fifth-largest U.S. homebuilder, reported record-high quarterly sales orders, home closing gross margin of 25.8%, and a 43% increase in diluted EPS for the first quarter of 2024. The company achieved homes closed of 3,507 units, home closing revenue of $1.5 billion, and a 14% increase in home orders. Meritage Homes experienced a 21% increase in homes closed, a 16% rise in home closing revenue, and a 42% surge in net earnings year-over-year. The company maintained a healthy balance sheet with over $905 million in cash and cash equivalents, a net debt-to-capital ratio of 2.0%, and a 17% increase in book value per share year-over-year. Meritage Homes provided updated guidance for full year 2024, anticipating home closing volume of 14,500-15,000 units, home closing revenue of $6.0-6.2 billion, and a diluted EPS of $19.20-20.70.
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Meritage Homes (NYSE: MTH) announces the release of its first quarter 2024 results on April 24, 2024, followed by a conference call on April 25, 2024. Investors can access the live webcast or dial in for the call to discuss the financial performance.
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FAQ

What is Meritage Homes Corporation known for?

Meritage Homes Corporation is known for building energy-efficient and high-quality homes, with all homes being 100% ENERGY STAR® certified.

In which regions does Meritage Homes operate?

Meritage Homes operates in the West, Central, and East regions of the United States, covering ten states including Arizona, California, Colorado, Texas, Florida, and more.

How many homes has Meritage Homes built?

Over its 30-year history, Meritage Homes has built more than 85,000 homes.

What are the core business segments of Meritage Homes?

Meritage Homes’ core business segments are homebuilding and financial services.

What recent financial achievements has Meritage Homes reported?

In the third quarter of 2023, Meritage Homes reported $1.6 billion in home closing revenue and a diluted EPS of $5.98.

What awards has Meritage Homes received?

Meritage Homes has received several awards, including the U.S. Environmental Protection Agency’s ENERGY STAR® Partner of the Year for Sustained Excellence Award for ten consecutive years.

What philanthropic efforts is Meritage Homes involved in?

Meritage Homes is involved in numerous philanthropic efforts, including a decade-long partnership with Operation Homefront, and has been recognized with awards such as the Hearthstone Builder Humanitarian Award.

What is the significance of Meritage Homes’ 100% ENERGY STAR® certification?

The 100% ENERGY STAR® certification demonstrates Meritage Homes' commitment to environmental sustainability by ensuring every home they build meets strict energy efficiency standards.

How does Meritage Homes support its buyers financially?

Meritage Homes offers financial services such as title and escrow, mortgage, and insurance services to support its buyers.

Where can I find more information about Meritage Homes?

More information about Meritage Homes can be found on their official website at www.meritagehomes.com.

Meritage Homes Corporation

NYSE:MTH

MTH Rankings

MTH Stock Data

5.89B
36.32M
2.11%
101.32%
3.15%
New Single-Family Housing Construction (except For-Sale Builders)
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United States of America
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