Quarter Ended Jun 30, 2021
We generated the Company’s all-time high quarterly home closing gross margin of 27.3% in the second quarter of 2021. We expanded our margin year-over-year by 590 bps, mainly resulting from efficiencies gained from higher ASP and leveraging of our fixed costs on greater home closing volume, which more than offset the high lumber prices and increases in other commodity costs.
Our community count grew 11% sequentially from 203 communities at March 31, 2021 to 226 communities at June 30, 2021.
Second quarter 2021 diluted EPS improved 83% year-over-year to $4.36 due to higher closing volume, pricing power, expanded gross margin and improved overhead leverage.
For Fiscal Year Ending Dec 31, 2020
For complete information regarding our financials, see our periodic filings
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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
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 145,000+ 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.
Meritage Homes Corporation
8800 E. Raintree Drive
Scottsdale, AZ 85260
T: (480) 515-8100
Vice President, Investor Relations
T: (480) 515-8979
462 South 4th Street
Louisville, KY 40202
T: (800) 851-9677