Meritage Homes (MTH) came out with quarterly earnings of $6.31 per share, beating the Zacks Consensus Estimate of $5.17 per share. This compares to earnings of $5.02 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Meritage shares have added about 13.5% since the beginning of the year versus the S&P 500's gain of 16.5%. There are no easy answers to this key question, but one reliable measure t ...

Exhibit 99.1 Contacts: Emily Tadano, VP Investor Relations and ESG (480) 515-8979 (office) investors@meritagehomes.com Meritage Homes reports second quarter 2024 results 18% increase in home closings year-over-year, home closing gross margin of 25.9% and a 26% increase in diluted EPS SCOTTSDALE, Ariz., July 24, 2024 - Meritage Homes Corporation (NYSE: MTH), the fifth-largest U.S. homebuilder, reported second quarter results for the period ended June 30, 2024. | (Dollars in thousands, except per share amount ...

Meritage Homes' earnings beat the consensus mark in 22 of the trailing 23 quarters. The Zacks Consensus Estimate for second-quarter 2024 earnings per share (EPS) increased to $5.17 from $5.06 in the past 30 days. The said figure indicates a 3% increase from the year-ago level of $5.02 per share. Factors to Note The company expects home closing to be in the range of 3,600-3,800 units in the to-be-reported quarter, up from 3,490 units reported a year ago. Also, home closing revenues are anticipated to be in t ...

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For the most recent quarter, Meritage was expected to post earnings of $3.54 per share, but it reported $5.06 per share instead, representing a surprise of 42.94%. For the previous quarter, the consensus estimate was $5.18 per share, while it actually produced $5.38 per share, a surprise of 3.86%. Meritage has an Earnings ESP of +0.64% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Ho ...

Although the homebuilding industry is facing challenges like high mortgage rates and rising costs, Meritage Homes Corporation (MTH) is likely to benefit from improved cycle times and spec strategy implementation. The company's focus on entry-level and first-move-up homes will likely produce a higher volume in the future. Shares of this Scottsdale, AZ-based homebuilding company have appreciated 10.9% in the past year compared with the Zacks Building Products - Home Builders industry's 18.9% rise. The company ...

Core Insights - Meritage Homes has received multiple national accolades for its commitment to energy efficiency, customer service, and philanthropic efforts [1] Awards and Recognition - Meritage Homes was recognized at the 21st Annual Avid Awards for Top Rated Customer Experience, with thirteen divisions scoring among the top 25% in customer ratings nationwide [11] - The company received the EPA's ENERGY STAR Market Leader Award for its leadership in promoting energy efficiency and reducing energy bills [4] - Meritage was named one of America's Greenest Companies for 2024 by Newsweek and featured on USA Today's list of America's Climate Leaders [6] - The company was highlighted in U.S. News & World Report's Best Companies to Work For in the 'Best in Construction' and 'Best Companies in the West' categories [7] Philanthropic Efforts - Meritage received the President's Volunteer Service Award for its partnership with No Child Hungry, contributing over 1,300 volunteer hours and packing nearly 260,000 meal kits in the past two years [12] Company Performance - Meritage has delivered over 180,000 homes in its 38-year history and is recognized for its distinctive style, quality construction, and award-winning customer experience [9] - The company has been named an ENERGY STAR Partner of the Year by the EPA 11 times and has completed over 126,000 ENERGY STAR certified homes since 2009 [17] - Meritage was included on Forbes' list of 2024 Most Successful Mid-Cap Companies based on sales and earnings growth, return on equity, and total stock return over the last five years [13] Leadership Statement - CEO Phillippe Lord expressed pride in the company's recognition for sustainable construction and customer service, as well as the President's Volunteer Service Award, highlighting the company's core values [14]

About Meritage For more information, visit www.meritagehomes.com. To listen, please go to Meritage's Investor Relations page for the live webcast or dial in to 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 has delivered over 180,000 homes in its 38-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuild ...

To listen, please go to Meritage's Investor Relations page for the live webcast or dial in to 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 is the fifth-largest public homebuilder in the United States, based on homes closed in 2023. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolin ...

Core Insights - Meritage Homes is continuing its partnership with Operation Homefront for the 11th consecutive year, focusing on building and donating energy-efficient homes for veteran families in 2024 [1][2] - The company plans to construct and donate a total of 20 homes, with specific projects in Austin, TX, and Charlotte, NC [1][3] Company Overview - Meritage Homes is the fifth largest public homebuilder in the U.S., based on homes closed in 2023, and operates in multiple states including Arizona, California, Texas, and Florida [5] - The company has delivered over 180,000 homes in its 38-year history and is recognized for its energy-efficient homebuilding practices [6] Partnership Details - The homes provided through the partnership will be mortgage-free and equipped with modern, energy-efficient features, including ENERGY STAR® appliances and smart home technology [2][9] - The recipients of the homes will be selected by Operation Homefront, with key handover ceremonies planned around Veterans Day in November [3] Community Impact - Operation Homefront aims to support military families by providing critical financial assistance and housing solutions, with 88% of its expenditures directed towards programs that benefit these families [8] - The homes are designed to help military families build roots in their communities, reflecting a commitment to enhancing their quality of life [2][4]