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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Meritage Homes Corporation (NYSE: MTH) reported its first-quarter 2023 results, highlighting a 1% increase in home closing revenue to $1.3 billion compared to Q1 2022. Homes closed totaled 2,897, slightly up from 2,858 in the previous year. However, home orders fell 10% year-over-year to 3,487, with a 15% decrease in total order value, reflecting a challenging sales environment.
Net earnings declined 40% to $131.3 million, resulting in a diluted EPS of $3.54, down from $5.79 a year ago. Despite this, Meritage has initiated a cash dividend of $0.27 per share and repurchased shares totaling $10 million. The company successfully opened 27 new communities and maintained a strong cash position with $957.2 million in cash and equivalents.
Meritage Homes Corporation (NYSE: MTH) will announce its first quarter 2023 earnings on April 26, 2023, post-market. A conference call will follow on April 27, 2023, at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss the results. Interested parties can access the call via the company's Investor Relations page. Meritage Homes, recognized as the fifth-largest public homebuilder in the U.S., emphasizes energy-efficient and affordable housing solutions, operating across several states including Texas and California. The company boasts a delivery of over 165,000 homes in its history and has consistently received accolades for its sustainability efforts.
Meritage Homes Corporation (NYSE: MTH) has announced the initiation of a recurring quarterly cash dividend of $0.27 per share, reflecting the Board of Directors' confidence in the company’s business strategy and performance. The first payment will occur on March 31, 2023, for shareholders of record as of March 15, 2023. CEO Phillippe Lord stated this decision underscores a commitment to returning capital to shareholders while maintaining growth opportunities, supported by strong cash flow generation and a robust balance sheet.