Meritage Homes(MTH) - 2021 Q3 - Earnings Call Presentation

Financial Performance - The company achieved an 84% increase in earnings in 3Q21, with net earnings reaching $201 million compared to $109 million in 3Q20[22] - Diluted EPS increased by 85% to $5.25 in 3Q21 from $2.84 in 3Q20[22] - Home closing revenue increased by 10% to $1.251 billion in 3Q21 from $1.133 billion in 3Q20[22] - Home closing gross profit increased significantly by 53% to $372 million in 3Q21 from $244 million in 3Q20[22] - Home closing gross margin expanded by 820 bps to 29.7% in 3Q21 from 21.5% in 3Q20[22] Community and Orders - Average community count increased from 221 in 3Q20 to 231 in 3Q21[13] - Orders totaled 3,441 in 3Q21[13] - The company had 236 active communities as of September 30, 2021, a 16% increase from 204 at September 30, 2020[31] Land and Development - Land and development spending increased to $526 million in 3Q21 from $299 million in 3Q20[29] - Total lots controlled increased to 69,767 in 3Q21 from 47,875 in 3Q20[29] - As of September 30, 2021, the supply of lots was 5.4 years[29] Balance Sheet - The company had $562 million in cash as of September 30, 2021[26] - Net debt-to-capital ratio was 17.5% as of September 30, 2021[26] Guidance - The company anticipates 12,600-12,900 home closings for full year 2021[34] - The company anticipates $5.05-5.15 billion in home closing revenue for full year 2021[34]