Meritage Homes CORP (MTH) Form 10-Q — Jul 31, 2026
Meritage Homes reported a significant decline in profitability for the six months ended June 30, 2026, with net earnings falling to $146 million from $270 million in the prior year period. Home closing revenue decreased 15.6% to $2.5 billion, driven by an 11.8% drop in homes closed and a 4.4% decline in average sales price. Home closing gross margin compressed 360 basis points to 17.9% due to lower pricing, reduced leverage, and elevated land costs, partially offset by direct cost savings. Operational metrics reflected a tougher selling environment, with home orders down 7.1% and the cancellation rate rising to 12% from 9% in the prior year.
Key figures
- Eps
- 2.18
- Revenue
- 2517814000
- Net Income
- 145939000
- Total Assets
- 7554933000
- Cash Position
- 807267000
- Shares Outstanding
- 65174093
- Backlog Units
- 1715
- Backlog Value
- 661906000
- Community Count
- 340
- Homes Closed 3mo
- 3725
- Homes Closed 6mo
- 6692
- Dividends Paid 6mo
- 63301000
- Home Closing Revenue
- 2495733000
- Cancellation Rate 3mo
- 13%
- Cancellation Rate 6mo
- 12%
- Share Repurchases 6mo
- 232000000
- Home Closing Gross Margin
- 17.9%
- Home Closing Gross Profit
- 447411000
Price after filing
Close on the filing date to close N calendar days later (from $70.20). Historical, not a forecast.
AI analysis
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