Meritage Homes(MTH) - 2022 Q4 - Earnings Call Presentation

Financial Performance - Home closing revenue reached $1.4988 billion in 4Q21, a 6% increase compared to $1.4092 billion in 4Q20[23] - Home closing gross profit increased by 29% to $434.7 million in 4Q21 from $337.8 million in 4Q20[23] - Home closing gross margin improved by 500 basis points to 29% in 4Q21 from 24% in 4Q20[23] - Net earnings increased by 56% to $237.5 million in 4Q21, compared to $152.5 million in 4Q20[23] - Diluted EPS increased by 57% to $6.25 in 4Q21 from $3.97 in 4Q20[23] - The average selling price (ASP) on closings increased by 13% to $425,000 in 4Q21 from $376,000 in 4Q20[23] Land and Community - Active communities increased by 33% to 259 at the end of 4Q21 from 195 at the end of 4Q20[27] - Total lots controlled were 75,049 [26] - Supply of lots is 5.9 years [26] Orders and Absorption - Entry-level homes accounted for 79% of orders in 4Q21 [12] - Absorptions per month were 5.5 in 4Q21 [14]