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 Corporation (NYSE: MTH) is set to release its second quarter 2021 results on July 28, 2021, after market close. A conference call to discuss these results will take place on July 29, 2021, at 7:00 a.m. Pacific Time. Investors can access the call via webcast through the Company’s website. Meritage Homes ranks as the sixth-largest public homebuilder in the U.S., with over 140,000 homes delivered since its inception, focusing on energy-efficient homebuilding and catering to entry-level and first move-up buyers across several states.
Meritage Homes (NYSE:MTH) has renewed its partnership with Operation Homefront to provide a mortgage-free, energy-efficient home to a deserving military family as part of Military Appreciation Month. This marks the eighth year of their collaboration under the Permanent Homes for Veterans program, with over 700 homes provided since 2012. The new home will be built in Tampa, Florida, featuring advanced energy-efficient technology. Keys will be awarded to the selected family during Veterans Day week 2021, reflecting Meritage’s commitment to support military families.
Meritage Homes, the sixth-largest public homebuilder in the U.S., has celebrated the recognition of nine divisions at the 18th annual Avid Awards. Notably, the Southern California division received the esteemed Avid Diamond Award for the second consecutive year, marking an exclusive achievement among public homebuilders in 2020. The Avid Awards assess builders based on customer satisfaction metrics. Meritage's divisions achieved the Avid Gold Award and Avid Benchmark Award for excellence in customer experience, highlighting the company's commitment to high standards in homebuyer satisfaction.
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.