Meritage Homes at a Glance
9
States
36
Years in Business
140,000+
Homes Built
Latest Presentation
View All PresentationsUpcoming Event
View All EventsSecond Quarter 2021 Earnings Release and Webcast Conference Call
Latest Financial Results
Q1 2021
Quarter Ended Mar 31, 2021
88%
Net earnings were $131.8 million ($3.44 per diluted share) for the first quarter of 2021, an 85% increase over $71.2 million ($1.83 per diluted share) for the first quarter of 2020. Strong earnings growth reflected higher closing volume, pricing power, expanded gross margin and improved overhead leverage, which combined with a lower outstanding share count, led to an 88% year-over-year improvement in earnings per diluted share.
24.7%
The 470 bps improvement in first quarter 2021 home closing gross margin to 24.7% from 20.0% a year ago mainly resulted from higher ASPs, as well as the additional closing volume and efficiencies gained from streamlined operations. These factors mitigated record high lumber prices and increases in other commodity costs.
21%
The 21% year-over-year increase in home closing revenue to $1.1 billion for the quarter ended March 31, 2021 was due to 25% higher home closing volume partially offset by a 3% reduction in closing ASP, which was primarily attributable to the shift to entry-level homes. ASPs also reflected pricing increases as a result of the sustained housing demand.
Latest Annual Report
For Fiscal Year Ending Dec 31, 2020
Report Links
For complete information regarding our financials, see our periodic filings
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Broad Footprint in Growing Markets
East Bay, Central Valley, Sacramento and Southern CA; Phoenix / Scottsdale and Tucson, AZ; Denver, CO; Dallas / Fort Worth, Austin, San Antonio and Houston, TX; Nashville, TN; Raleigh and Charlotte, NC; Greenville, SC; Atlanta, GA; Orlando, Tampa and South Florida
A Renowned Leader in Energy-efficient Homebuilding
Meritage Homes is the sixth-largest public homebuilder in the United States, based on homes closed in 2020. Meritage offers a variety of homes that are designed with a focus on entry-level and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.
The Company has delivered over 140,000 homes in its 36-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 an eight-time recipient of the U.S. Environmental Protection Agency's ENERGY STAR® Partner of the Year for Sustained Excellence Award since 2013 for innovation and industry leadership in energy efficient homebuilding.
Average Community Count by Product Type
1Q21
Orders by Product Type
1Q21
Recent Quarterly Results by Region
West Region
Home Closing Revenue (In thousands)
Central Region
Home Closing Revenue (In thousands)
East Region
Home Closing Revenue (In thousands)
West Region
Homes Closed
Central Region
Homes Closed
East Region
Homes Closed
Investor Contact Information
Company
Meritage Homes Corporation
8800 E. Raintree Drive
Suite 300
Scottsdale, AZ 85260
T: (480) 515-8100
Contact.Center@MeritageHomes.com
Investor Relations
Emily Tadano
Vice President, Investor Relations
T: (480) 515-8979
Investors@MeritageHomes.com
Transfer Agent
Computershare
462 South 4th Street
Louisville, KY 40202
T: (800) 851-9677
www.computershare.com