Meritage Homes Corp Stock Price, News & Analysis

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.

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.