Quarterly ResultApr 22, 2026, 04:33 PM
Meritage Homes Q1 EPS Plunges 51% to $0.82; Revenue Down 17%
AI Summary
Meritage Homes reported a significant decline in Q1 2026 results, with diluted EPS falling 51% to $0.82 and home closing revenue decreasing 17% to $1.1 billion. Net earnings also dropped 55% to $55.3 million. The company attributed the weaker performance to challenging macroeconomic conditions, including a severe winter storm and geopolitical events impacting consumer sentiment and mortgage rates, leading to increased incentive utilization. Despite this, Meritage maintained its balance sheet strength, repurchased $130 million in shares, and opened 40 new communities.
Key Highlights
- Diluted EPS decreased 51% to $0.82.
- Home closing revenue fell 17% to $1.1 billion.
- Net earnings declined 55% to $55.3 million.
- Home closing gross margin dropped 450 bps to 17.5%.
- Home orders decreased 5% to 3,664 units.