Meritage Homes Corp Stock Price, News & Analysis

Meritage Homes (NYSE: MTH) has announced two significant shareholder-focused initiatives. First, the company increased its quarterly cash dividend to $0.43 per share, up from $0.375 in 2024 (adjusted for the recent two-for-one stock split). This dividend will be paid on March 31, 2025, to shareholders of record as of March 17, 2025.

Additionally, Meritage has renewed its programmatic share repurchase plan, committing to repurchase $15 million worth of shares during each quarter of 2025. The company plans to maintain this as an evergreen plan, while remaining opportunistic based on market conditions.

Meritage Homes (NYSE: MTH) reported its Q4 and full-year 2024 results. Full-year 2024 highlights include record home closing volume of 15,611 units (+12% YoY) and home closing revenue of $6.3 billion (+5% YoY). Net earnings reached $786.2 million (+6% YoY) with diluted EPS of $21.44 (+8% YoY).

Q4 2024 performance showed mixed results with home closing revenue decreasing 3% to $1.6 billion, while orders increased 14% to 3,304 homes. Home closing gross margin declined to 23.2% from 25.2% YoY. Net earnings decreased 13% to $172.6 million with diluted EPS of $4.72.

The company maintained strong liquidity with $651.6 million in cash and completed the acquisition of Elliott Homes, adding approximately 5,500 lots. Meritage executed a two-for-one stock split on January 2, 2025, and provided FY2025 guidance projecting home closing volume of 16,250-16,750 units and revenue of $6.6-6.9 billion.

Meritage Homes (NYSE:MTH), the fifth-largest public homebuilder in the U.S., has appointed Geisha Williams as an independent director to its Board of Directors, expanding it to 12 members. Williams brings over 30 years of energy industry experience, notably as former President and CEO of PG&E , where she focused on renewables integration and grid modernization.

As the first Latina CEO of a Fortune 200 company, Williams currently serves on the Supervisory Board of Siemens Energy AG and holds board positions at Artera Services and Osmose Utilities Services, where she has been Chairperson since 2021. She previously served on Salesforce's Global Advisory Board from 2022 to 2024.

The appointment reflects Meritage's commitment to board refreshment and increased diversity. The company plans to consider Williams for committee appointments in upcoming board meetings.

Meritage Homes (NYSE: MTH), the fifth largest public homebuilder in the U.S., has scheduled its fourth quarter 2024 earnings release for January 29, 2025, after market close. The company will host a conference call to discuss results on January 30, 2025, at 8:00 a.m. Mountain Standard Time (10:00 a.m. Eastern Standard Time). Investors can access the live webcast through Meritage's Investor Relations page or dial in using 1-877-407-6951 (U.S. toll free) or 1-412-902-0046. A replay will be available on the Investor Relations page.

Meritage Homes, the fifth-largest U.S. homebuilder, announced a two-for-one stock split of its common stock in the form of a stock dividend. Stockholders of record as of December 31, 2024, will receive one additional share for each share held, with the distribution occurring after market close on January 2, 2025. Trading on a split-adjusted basis will commence on January 3, 2025.

Meritage Homes, the fifth-largest U.S. homebuilder, announced two significant shareholder actions. The company declared a quarterly dividend of $0.75 per share, payable on December 31, 2024, to shareholders of record as of December 17, 2024. Additionally, the Board approved a $250 million increase to its share repurchase authorization. Combined with $15 million in systematic buybacks quarter-to-date, the total authorized share repurchase program now stands at $334 million as of November 21, 2024.

Meritage Homes (NYSE:MTH), the fifth-largest public homebuilder in the U.S., announced its entry into the Gulf Coast markets through the acquisition of Elliott Homes, a top five Gulf Coast homebuilder operating in Mississippi, Alabama and the Florida panhandle. The acquisition includes over 5,500 lots, with production operations expected to begin in existing entry-level communities before year-end. This marks Meritage's first acquisition since 2014 and aligns with their spec building strategy of affordable entry-level homes. The company anticipates meaningful contribution from these operations in 2025.

Meritage Homes (NYSE: MTH) reported Q3 2024 results with home closings up 8% year-over-year to 3,942 units, while home closing revenue decreased 2% to $1.6 billion. Net earnings were $196.0 million ($5.34 per diluted share), down 12% from prior year. The company achieved a record 145% backlog conversion rate with entry-level homes representing 93% of closings.

Home closing gross margin was 24.8%, down from 26.7% last year. The company maintained strong liquidity with $831.6 million in cash and a net debt-to-capital ratio of 8.8%. During Q3, Meritage repurchased shares worth $30.0 million and paid $27.1 million in dividends.

Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), and Meritage Homes (NYSE:MTH) announced the development of Prairie Winds, a new residential community in Hutto, Texas, opening in Q1 2025. The project will feature 1,093 homesites with prices starting in the $320,000s. Trophy Signature Homes will offer homes ranging from 1,000 to 2,700 square feet on various lot sizes. The development will include amenities like a resort-style pool, splash pad, parks, and sports courts, scheduled to open by Summer 2026. The community will be developed in seven phases and is located near Lee Martinez Elementary School.