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Meritage Homes Corporation (MTH)

NYSE - NYSE Delayed price. Currency in USD
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97.94-3.87 (-3.80%)
At close: 4:00PM EDT
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Previous close101.81
Open102.58
Bid0.00 x 800
Ask0.00 x 1100
Day's range97.82 - 103.19
52-week range25.24 - 105.50
Volume481,064
Avg. volume463,271
Market cap3.683B
Beta (5Y monthly)1.85
PE ratio (TTM)11.33
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date26 Dec 1996
1y target estN/A
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  • 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.