Welcome to our dedicated page for Meritage Homes news (Ticker: MTH), a resource for investors and traders seeking the latest updates and insights on Meritage Homes stock.
Meritage Homes Corporation reports recurring developments in U.S. homebuilding, including quarterly results, home closings, home orders, backlog, average selling prices, gross margins and community count. The company designs and builds single-family attached and detached homes, with operations organized across West, Central and East regions in twelve states.
Meritage news also covers land acquisition and development spending, cycle-time and inventory commentary, energy-efficient entry-level and first move-up homes, and financial-services activities such as title, escrow, mortgage and insurance services. Capital allocation updates include cash dividends, share repurchases, credit capacity and community-giving initiatives through Meritage Cares.
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.
Meritage Homes Corporation (NYSE:MTH), the sixth-largest homebuilder in the U.S., announced new digital solutions aimed at enhancing the homebuying experience. Customers can now explore home options virtually, qualifying for mortgages and completing transactions online where permitted. The company also introduced guaranteed homeowners' insurance quotes and 24/7 support through a virtual assistant. These innovations reflect the growing trend of virtual homebuying amidst changing consumer preferences, enabling buyers to choose a seamless process tailored to their needs.
Meritage Homes (NYSE:MTH) reveals new eco-friendly tile collections catering to homebuyers’ preferences, driven by a recent consumer survey. Key findings show that 35% favor quartz countertops resembling marble, and 92% value backsplashes with unique designs. Wood-look tile flooring is also gaining traction, appealing to 21% of buyers. This collaboration with Daltile enhances their offerings, promoting sustainable materials. The Design Collections simplify selections for buyers, ensuring cohesive finishes with transparent pricing and minimal environmental impact.
Meritage Homes Corporation (NYSE: MTH) reported strong second quarter results for 2021, highlighting a significant 85% increase in net earnings to $167.4 million ($4.36 per diluted share). Home closing revenue surged by 23% year-over-year to $1.3 billion, aided by an 18% rise in closed homes to 3,273 units. The average sales price for closing transactions rose 4% to $386,000. Despite a 2% drop in home orders to 3,542 units, the company secured a backlog of 5,509 homes valued at $2.3 billion, marking a 41% increase. Meritage anticipates home closing revenues between $5.00-5.25 billion for 2021.