Meritage Homes Corporation (MTH)
| Previous close | 101.81 |
| Open | 102.58 |
| Bid | 0.00 x 800 |
| Ask | 0.00 x 1100 |
| Day's range | 97.82 - 103.19 |
| 52-week range | 25.24 - 105.50 |
| Volume | 481,064 |
| Avg. volume | 463,271 |
| Market cap | 3.683B |
| Beta (5Y monthly) | 1.85 |
| PE ratio (TTM) | 11.33 |
| EPS (TTM) | N/A |
| Earnings date | N/A |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | 26 Dec 1996 |
| 1y target est | N/A |
- GlobeNewswire
Meritage Homes reports record second quarter 2020 orders 32% higher than prior year; 78% increase in net earnings driven by 20% revenue growth and strong margin improvement
SCOTTSDALE, Ariz., July 22, 2020 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE: MTH), a leading U.S. homebuilder, reported second quarter results for the period ended June 30, 2020.Summary Operating Results (unaudited) (Dollars in thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 % Chg 2020 2019 % Chg Homes closed (units)2,770 2,253 23% 5,086 4,018 27% Home closing revenue$1,031,591 $863,053 20% $1,922,008 $1,561,703 23% Average sales price - closings$372 $383 (3)% $378 $389 (3)% Home orders (units)3,597 2,735 32% 6,699 5,265 27% Home order value$1,290,454 $1,043,995 24% $2,470,391 $2,020,974 22% Average sales price - orders$359 $382 (6)% $369 $384 (4)% Ending backlog (units) 4,395 3,680 19% Ending backlog value $1,648,451 $1,477,007 12% Average sales price - backlog $375 $401 (7)% Earnings before income taxes$115,862 $67,674 71% $202,695 $100,044 103% Net earnings$90,678 $50,828 78% $161,830 $76,240 112% Diluted EPS$2.38 $1.31 82% $4.20 $1.97 113% MANAGEMENT COMMENTS “The spring selling season demonstrated remarkable resilience in May and June after a slow start in April due to the global pandemic, resulting in our two highest selling months ever and an all-time company record of nearly 3,600 orders for the quarter,” said Steven J. Hilton, chairman and chief executive officer of Meritage Homes. “Our absorptions were up 42% over last year's second quarter, averaging approximately five homes per month in roughly 240 communities nationwide. “Demand for new homes is being driven by historically low mortgage interest rates, a shortage of used homes for sale, and an increased need for homes that can accommodate entire families working from home more than ever before. Many of those families are choosing safe suburban communities rather than crowded urban centers and many often prefer to purchase a home virtually rather than physically,” he explained. “That is exactly what Meritage offers. 100% of our communities are open for both in-person and virtual sales, and our virtual selling capabilities have been very beneficial. More than half of our communities are designed for the entry-level market with a wide selection of affordable homes ready for quick move-in, while our streamlined design selection process in Studio M allows first move-up customers to move quickly into a new home.” Mr. Hilton continued, “The entire Meritage organization is executing at a high level to drive powerful earnings growth. Our second quarter net earnings increased 78% through the combination of a 20% increase in home closing revenue, our highest gross margin in six years of 21.4% and our fourth consecutive quarter of improving overhead leverage -- to just 10.3% of home closing revenue. “As a result, we ended the quarter with the strongest balance sheet we’ve ever had, including almost a half billion dollars in cash and the lowest net debt-to-capital ratio in our history, which gives us the flexibility to continue to grow and expand market share while also providing a healthy cushion in the event that conditions weaken,” he added. “We responded to the resurgence in demand since late-April by re-accelerating new home starts to meet demand and securing new land positions to replace communities as they sell out, with almost 6,000 new lots put under control since April.” Mr. Hilton concluded, “We are encouraged by the health of the housing market and confident in our strategy, while remaining aware of the risks and uncertainties in the economy until the pandemic is brought under control. We have taken necessary precautions to protect our employees, trade partners and customers. In addition, we have recently committed at least $250,000 to support Feed America for those in need. “Based on our current forecast, we believe we can generate between $4.0-4.3 billion in home closing revenue for the year, including $1.0-1.1 billion for the third quarter, with home closing gross margins around 21% for the third quarter and full year. We estimate that will translate to approximately $8.75-9.25 of diluted earnings per share for the full year, including approximately $2.15-2.35 for the third quarter.”SECOND QUARTER RESULTS * Total orders for the second quarter of 2020 increased 32% year-over-year, driven by a 42% increase in absorption pace over the prior year’s second quarter. Order trends accelerated through the quarter, with April orders 15% lower than the prior year, followed by year-over-year increases of 44% and 66% in May and June, respectively. Strong demand was broad-based, with Arizona and Texas generating the highest absorptions in the second quarter. Order cancellations rose to 15% from 12% for the second quarter of 2020 compared to 2019. * Entry-level represented 57% of total active communities at June 30, 2020 and 70% of total orders for the second quarter of 2020, compared to 41% of total communities and 51% of orders a year earlier. First move-up made up one-third of communities at June 30 and 26% of second quarter 2020 orders. * Home closing revenue increased 20%, resulting from a 23% increase in home closing volume and a 3% reduction in ASP over the second quarter of 2019 due to Meritage’s strategic shift to the higher-demand entry-level market. * Home closing gross margin increased 300 bps over 2019’s second quarter to 21.4%, reflecting the benefits of Meritage’s strategic streamlining of operations, including efficiencies in purchasing, processes and labor, as well as some temporary cost concessions and leverage from increased closings. Those savings were partially offset by contract termination walk-away charges of $3.3 million in the second quarter of 2020, compared to $0.5 million of related charges in the second quarter of 2019. * Selling, general and administrative (SG&A) expenses were reduced to 10.3% of second quarter 2020 home closing revenue from 11.0% in the second quarter of 2019, attributed to slightly lower selling expenses, greater leverage of fixed expenses on higher home closing revenue and the immediate tightening of overhead expenses in response to the sharp but short-term decline in demand during March and April due to the nationwide spread of the pandemic. * Pre-tax earnings increased 71% year-over-year for the second quarter. Net earnings increased 78% to $90.7 million ($2.38 per diluted share) with a 22% effective tax rate for the second quarter of 2020, compared to $50.8 million ($1.31 per diluted share) and a 25% effective tax rate for the second quarter of 2019. Diluted EPS benefited from the repurchase of one million shares of stock during the first quarter of 2020.YEAR TO DATE RESULTS * Total orders for the first half of 2020 increased 27% year-over-year, driven by a 40% increase in absorptions, partially offset by a 9% decrease in average community count compared to the first half of 2019. * Net earnings were $161.8 million ($4.20 per diluted share) for the first half of 2020, a 113% increase over $76.2 million ($1.97 per diluted share) for the first half of 2019, primarily reflecting increases in home closing revenue and gross margin, greater overhead leverage, lower interest expense and a lower effective tax rate in 2020. * Home closings for the first half of the year also increased 27% over the prior year with a 3% lower average price on closings, resulting in a 23% increase in home closing revenue. * Home closing gross profit increased 45% to $399.1 million in the first half of 2020 compared to $275.6 million in the first half of 2019, reflecting a 320 bps increase in home closing gross margin primarily due to streamlined operations and additional leverage of construction overhead expenses on higher home closings and revenue. * SG&A expenses decreased 110 bps year-over-year to 10.5% of home closing revenue, compared to 11.6% in the first half of 2019, due to operating efficiencies and improved leverage of fixed expenses on higher closing volume and revenue, in addition to cost reductions taken immediately following the shelter-in-place orders enacted in late March to prevent the spread of Covid-19. * Interest expense decreased $5.2 million year-over-year, primarily due to a reduction in total interest incurred due to the December 2019 early redemption of $300 million 7.15% senior notes due in 2020, partially offset by interest incurred on the $500 million borrowed under the existing credit facility in March to provide financial flexibility within an environment of heightened uncertainty, which was repaid on May 26, 2020. * The effective tax rate for the first half of 2020 was 20%, compared to 24% for the first half of 2019. The 2020 effective tax rate benefited from credits earned for energy-efficient homes under the Taxpayer Certainty and Disaster Tax Relief Act enacted in December 2019.BALANCE SHEET * Cash and cash equivalents at June 30, 2020 totaled $484.6 million, compared to $319.5 million at December 31, 2019, reflecting positive cash flow from operations of $237.4 million and partially offset by the repayment of the full $500 million borrowed against the Company’s $780 million Revolving Credit Facility in the first quarter of 2020. * Meritage terminated contracts to purchase approximately 1,500 lots in the second quarter, in response to the sharp but short-lived drop in demand from late March through early April. The Company has subsequently put nearly 6,000 new lots under control as demand for its homes rebounded and strengthened through the second quarter, ending with approximately 42,900 total lots owned or under control as of June 30, 2020, compared to approximately 34,700 total lots at June 30, 2019. * Debt-to-capital and net debt-to-capital ratios were 32.8% and 20.4%, respectively, at June 30, 2020, down from 34.0% and 26.2%, respectively, at December 31, 2019. CONFERENCE CALL Management will host a conference call to discuss the results at 7:30 a.m. Arizona Time (10:30 a.m. Eastern Time) on Thursday, July 23. The call will be webcast with an accompanying slideshow, both available on the "Investor Relations" page of the Company's web site at http://investors.meritagehomes.com. For those unable to participate via the webcast, telephone participants can avoid delays by pre-registering for the call using the following link to receive a special dial-in number and PIN. Conference Call registration link: http://services.incommconferencing.com/DiamondPassRegistration/register?confirmationNumber=13706029&linkSecurityString=cb02a52e8. The Participant Access Code is 0774497. Telephone participants who are unable to pre-register can dial in to 1-877-407-6951 US toll free on the day of the call. International dial-in number is 1-412-902-0046. A replay of the call will be available beginning at approximately 12:00 p.m. ET on July 23 and extending through August 6, 2020, on the website noted above or by dialing 1-877-660-6853 US toll free, 1-201-612-7415 for international and referencing conference number 13706029.Meritage Homes Corporation and Subsidiaries Consolidated Income Statements (In thousands, except per share data) (Unaudited) Three Months Ended June 30, 2020 2019 Change $ Change % Homebuilding: Home closing revenue$1,031,591 $863,053 $168,538 20% Land closing revenue1,488 1,557 (69) (4)% Total closing revenue1,033,079 864,610 168,469 19% Cost of home closings(810,895) (703,935) 106,960 15% Cost of land closings(2,936) (3,299) (363) (11)% Total cost of closings(813,831) (707,234) 106,597 15% Home closing gross profit220,696 159,118 61,578 39% Land closing gross loss(1,448) (1,742) 294 17% Total closing gross profit219,248 157,376 61,872 39% Financial Services: Revenue4,478 4,160 318 8% Expense(1,758) (1,720) 38 2% Earnings from financial services unconsolidated entities and other, net1,069 3,591 (2,522) (70)% Financial services profit3,789 6,031 (2,242) (37)% Commissions and other sales costs(70,408) (60,125) 10,283 17% General and administrative expenses(36,176) (34,779) 1,397 4% Interest expense(2,105) (3,197) (1,092) (34)% Other income, net1,514 2,368 (854) (36)% Earnings before income taxes115,862 67,674 48,188 71% Provision for income taxes(25,184) (16,846) 8,338 49% Net earnings$90,678 $50,828 $39,850 78% Earnings per common share: Basic Change $ or shares Change % Earnings per common share$2.41 $1.33 $1.08 81% Weighted average shares outstanding37,599 38,266 (667) (2)% Diluted Earnings per common share$2.38 $1.31 $1.07 82% Weighted average shares outstanding38,169 38,889 (720) (2)% Six Months Ended June 30, 2020 2019 Change $ Change % Homebuilding: Home closing revenue$1,922,008 $1,561,703 $360,305 23% Land closing revenue12,084 11,052 1,032 9% Total closing revenue1,934,092 1,572,755 361,337 23% Cost of home closings(1,522,952) (1,286,123) 236,829 18% Cost of land closings(13,149) (12,428) 721 6% Total cost of closings(1,536,101) (1,298,551) 237,550 18% Home closing gross profit399,056 275,580 123,476 45% Land closing gross loss(1,065) (1,376) 311 23% Total closing gross profit397,991 274,204 123,787 45% Financial Services: Revenue8,390 7,388 1,002 14% Expense(3,493) (3,224) 269 8% Earnings from financial services unconsolidated entities and other, net1,730 6,569 (4,839) (74)% Financial services profit6,627 10,733 (4,106) (38)% Commissions and other sales costs(131,581) (112,680) 18,901 17% General and administrative expenses(70,346) (68,345) 2,001 3% Interest expense(2,121) (7,282) (5,161) (71)% Other income, net2,125 3,414 (1,289) (38)% Earnings before income taxes202,695 100,044 102,651 103% Provision for income taxes(40,865) (23,804) 17,061 72% Net earnings$161,830 $76,240 $85,590 112% Earnings per common share: Basic Change $ or shares Change % Earnings per common share$4.28 $2.00 $2.28 114% Weighted average shares outstanding37,842 38,136 (294) (1)% Diluted Earnings per common share$4.20 $1.97 $2.23 113% Weighted average shares outstanding38,512 38,789 (277) (1)% Meritage Homes Corporation and Subsidiaries Consolidated Balance Sheets (In thousands) (Unaudited) June 30, 2020 December 31, 2019 Assets: Cash and cash equivalents$484,622 $319,466 Other receivables93,872 88,492 Real estate (1)2,733,428 2,744,361 Deposits on real estate under option or contract47,832 50,901 Investments in unconsolidated entities3,646 4,443 Property and equipment, net46,299 50,606 Deferred tax asset26,468 25,917 Prepaids, other assets and goodwill105,561 114,063 Total assets$3,541,728 $3,398,249 Liabilities: Accounts payable$167,235 $155,024 Accrued liabilities249,208 226,008 Home sale deposits23,247 24,246 Loans payable and other borrowings20,889 22,876 Senior notes, net996,548 996,105 Total liabilities1,457,127 1,424,259 Stockholders' Equity: Preferred stock— — Common stock377 382 Additional paid-in capital454,138 505,352 Retained earnings1,630,086 1,468,256 Total stockholders’ equity2,084,601 1,973,990 Total liabilities and stockholders’ equity$3,541,728 $3,398,249 (1) Real estate – Allocated costs: Homes under contract under construction$847,606 $564,762 Unsold homes, completed and under construction444,057 686,948 Model homes101,804 121,340 Finished home sites and home sites under development1,339,961 1,371,311 Total real estate$2,733,428 $2,744,361 Supplemental Information and Non-GAAP Financial Disclosures (Dollars in thousands – unaudited): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Depreciation and amortization$7,540 $6,549 $14,551 $12,381 Summary of Capitalized Interest: Capitalized interest, beginning of period$78,162 $89,414 $82,014 $88,454 Interest incurred17,550 21,465 34,085 42,908 Interest expensed(2,105) (3,197) (2,121) (7,282) Interest amortized to cost of home and land closings(20,725) (19,375) (41,096) (35,773) Capitalized interest, end of period$72,882 $88,307 $72,882 $88,307 June 30, 2020 December 31, 2019 Notes payable and other borrowings$1,017,437 $1,018,981 Stockholders' equity2,084,601 1,973,990 Total capital$3,102,038 $2,992,971 Debt-to-capital32.8% 34.0% Notes payable and other borrowings$1,017,437 $1,018,981 Less: cash and cash equivalents(484,622) (319,466) Net debt$532,815 $699,515 Stockholders’ equity2,084,601 1,973,990 Total net capital$2,617,416 $2,673,505 Net debt-to-capital20.4% 26.2% Meritage Homes Corporation and Subsidiaries Consolidated Statements of Cash Flows (In thousands) (Unaudited) Six Months Ended June 30, 2020 2019 Cash flows from operating activities: Net earnings$161,830 $76,240 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization14,551 12,381 Stock-based compensation9,594 10,062 Equity in earnings from unconsolidated entities(1,691) (5,828) Distribution of earnings from unconsolidated entities1,491 8,508 Other2,548 4,305 Changes in assets and liabilities: Decrease in real estate9,655 5,439 Decrease in deposits on real estate under option or contract2,225 5,096 Decrease/(increase) in other receivables, prepaids and other assets3,469 (28) Increase/(decrease) in accounts payable and accrued liabilities34,772 (6,439) (Decrease)/increase in home sale deposits(999) 3,613 Net cash provided by operating activities237,445 113,349 Cash flows from investing activities: Investments in unconsolidated entities(3) (1,112) Distributions of capital from unconsolidated entities1,000 7,250 Purchases of property and equipment(10,343) (12,132) Proceeds from sales of property and equipment259 192 Maturities/sales of investments and securities632 566 Payments to purchase investments and securities(632) (566) Net cash used in investing activities(9,087) (5,802) Cash flows from financing activities: Repayment of loans payable and other borrowings(2,389) (2,629) Repurchase of shares(60,813) (8,957) Net cash provided by/(used in) financing activities(63,202) (11,586) Net increase in cash and cash equivalents165,156 95,961 Beginning cash and cash equivalents319,466 311,466 Ending cash and cash equivalents $484,622 $407,427 Meritage Homes Corporation and Subsidiaries Operating Data (Dollars in thousands) (Unaudited) Three Months Ended June 30, 2020 2019 Homes Value Homes Value Homes Closed: Arizona427 $142,359 389 $125,388 California247 150,343 132 83,454 Colorado184 89,087 169 90,130 West Region858 381,789 690 298,972 Texas914 295,975 823 289,839 Central Region914 295,975 823 289,839 Florida367 138,608 281 111,736 Georgia166 58,698 122 43,317 North Carolina288 98,738 196 70,629 South Carolina98 30,206 70 23,163 Tennessee79 27,577 71 25,397 East Region998 353,827 740 274,242 Total2,770 $1,031,591 2,253 $863,053 Homes Ordered: Arizona737 $231,057 582 $188,215 California388 224,639 207 135,519 Colorado153 70,831 220 110,314 West Region1,278 526,527 1,009 434,048 Texas1,215 392,502 827 275,380 Central Region1,215 392,502 827 275,380 Florida390 136,362 331 131,958 Georgia190 65,434 149 51,977 North Carolina326 106,383 240 89,571 South Carolina95 29,262 69 22,806 Tennessee103 33,984 110 38,255 East Region1,104 371,425 899 334,567 Total3,597 $1,290,454 2,735 $1,043,995 Six Months Ended June 30, 2020 2019 Homes Value Homes Value Homes Closed: Arizona886 $293,603 686 $223,842 California455 285,145 264 169,291 Colorado370 180,771 338 178,805 West Region1,711 759,519 1,288 571,938 Texas1,688 551,884 1,366 481,445 Central Region1,688 551,884 1,366 481,445 Florida603 232,397 507 202,560 Georgia281 100,696 241 85,456 North Carolina510 178,155 352 127,170 South Carolina151 47,611 127 42,745 Tennessee142 51,746 137 50,389 East Region1,687 610,605 1,364 508,320 Total5,086 $1,922,008 4,018 $1,561,703 Homes Ordered: Arizona1,307 $414,428 1,039 $333,613 California740 449,571 374 243,993 Colorado352 169,296 424 215,562 West Region2,399 1,033,295 1,837 793,168 Texas2,274 735,492 1,697 581,645 Central Region2,274 735,492 1,697 581,645 Florida707 255,804 632 258,032 Georgia346 120,417 293 102,204 North Carolina613 207,638 470 172,556 South Carolina182 57,176 150 48,020 Tennessee178 60,569 186 65,349 East Region2,026 701,604 1,731 646,161 Total6,699 $2,470,391 5,265 $2,020,974 Order Backlog: Arizona932 $307,302 696 $243,449 California430 256,694 201 141,196 Colorado178 86,158 271 140,304 West Region1,540 650,154 1,168 524,949 Texas1,634 556,787 1,312 473,968 Central Region1,634 556,787 1,312 473,968 Florida475 187,241 497 220,544 Georgia198 69,559 175 63,158 North Carolina322 109,026 295 112,808 South Carolina102 34,054 112 37,672 Tennessee124 41,630 121 43,908 East Region1,221 441,510 1,200 478,090 Total4,395 $1,648,451 3,680 $1,477,007 Meritage Homes Corporation and Subsidiaries Operating Data (Unaudited) Three Months Ended June 30, 2020 2019 Ending Average Ending Average Active Communities: Arizona38 35.5 40 37.0 California28 28.5 20 20.5 Colorado13 13.0 21 22.0 West Region79 77.0 81 79.5 Texas68 73.0 73 78.5 Central Region68 73.0 73 78.5 Florida36 35.0 36 34.0 Georgia17 16.0 21 20.0 North Carolina21 20.5 23 24.0 South Carolina5 6.0 9 10.0 Tennessee11 11.5 11 11.0 East Region90 89.0 100 99.0 Total237 239.0 254 257.0 Six Months Ended June 30, 2020 2019 Ending Average Ending Average Active Communities: Arizona38 34.5 40 40.0 California28 26.0 20 18.5 Colorado13 15.5 21 20.5 West Region79 76.0 81 79.0 Texas68 72.5 73 84.0 Central Region68 72.5 73 84.0 Florida36 34.5 36 33.5 Georgia17 17.5 21 21.5 North Carolina21 23.0 23 24.0 South Carolina5 7.0 9 10.5 Tennessee11 10.0 11 10.5 East Region90 92.0 100 100.0 Total237 240.5 254 263.0 About Meritage Homes Corporation Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2019. Meritage offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.The Company has designed and built over 130,000 homes in its 35-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. Meritage is the industry leader in energy-efficient homebuilding and has received the U.S. Environmental Protection Agency’s ENERGY STAR® Partner of the Year for Sustained Excellence Award every year since 2013 for innovation and industry leadership in energy efficient homebuilding. For more information, visit www.meritagehomes.com. The information included in this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include the statements regarding health of the housing market and the potential adverse impacts of the COVID-19 pandemic, and projected third quarter and full year 2020 home closing revenue, gross margins and diluted earnings per share. Such statements are based on the current beliefs and expectations of Company management and current market conditions, which are subject to significant uncertainties and fluctuations. Actual results may differ from those set forth in the forward-looking statements. The Company makes no commitment, and disclaims any duty, to update or revise any forward-looking statements to reflect future events or changes in these expectations, except as required by law. Meritage's business is subject to a number of risks and uncertainties. As a result of those risks and uncertainties, the Company's stock and note prices may fluctuate dramatically. These risks and uncertainties include, but are not limited to, the following: disruptions to our business by Covid-19, fear of a similar event, and measures implemented by federal, state and local governments or health authorities to address it; the availability and cost of finished lots and undeveloped land; shortages in the availability and cost of labor; the success of our strategic initiatives to focus on the first- and second-move-up buyer; the ability of our potential buyers to sell their existing homes; changes in interest rates and the availability and pricing of residential mortgages; our exposure to information technology failures and security breaches; legislation related to tariffs; inflation in the cost of materials used to develop communities and construct homes; the adverse effect of slow absorption rates; impairments of our real estate inventory; cancellation rates; competition; changes in tax laws that adversely impact us or our homebuyers; a change to the feasibility of projects under option or contract that could result in the write-down or write-off of earnest or option deposits; our potential exposure to and impacts from natural disasters or severe weather conditions; home warranty and construction defect claims; failures in health and safety performance; our success in prevailing on contested tax positions; our ability to obtain performance and surety bonds in connection with our development work; the loss of key personnel; failure to comply with laws and regulations; our limited geographic diversification; fluctuations in quarterly operating results; our level of indebtedness; our ability to obtain financing if our credit ratings are downgraded; our ability to successfully integrate acquired companies and achieve anticipated benefits from these acquisitions; our compliance with government regulations, the effect of legislative and other governmental actions, orders, policies or initiatives that impact housing, labor availability, construction, mortgage availability, our access to capital, the cost of capital or the economy in general, or other initiatives that seek to restrain growth of new housing construction or similar measures; legislation relating to energy and climate change; the replication of our energy-efficient technologies by our competitors; negative publicity that affects our reputation and other factors identified in documents filed by the Company with the Securities and Exchange Commission, including those set forth in our Form 10-K for the year ended December 31, 2019 and our Form 10-Q for the quarter ended March 31, 2020 under the caption "Risk Factors," which can be found on our website at www.investors.meritagehomes.com.Contacts:Brent Anderson, VP Investor Relations (972) 580-6360 (office) investors@meritagehomes.com
- GlobeNewswire
Meritage Homes Second Quarter 2020 Earnings Conference Call and Webcast Scheduled for July 23, 2020
Meritage Homes Corporation (MTH), a leading U.S. homebuilder, plans to release the Company's second quarter 2020 results on Wednesday, July 22, 2020 after the market closes. Management will host a conference call to discuss the results at 7:30 a.m. Arizona Time (10:30 a.m. Eastern Time) on Thursday, July 23. The call will be webcast with an accompanying slideshow, both available on the "Investor Relations" page of the Company's web site at http://investors.meritagehomes.com.
- GlobeNewswire
Meritage Homes Introduces Two New, Affordable Communities in Greater Nashville
NASHVILLE, Tenn., June 01, 2020 -- Meritage Homes, the seventh-largest public homebuilder in the U.S., today announced the addition of two new, affordable communities in the.
