Meritage Homes CORP

Meritage Homes reported a decrease in net earnings and total closing revenue for both the three and six months ended June 30, 2026, compared to the prior year. Net earnings for Q2 2026 were $90.6 million on total closing revenue of $1.40 billion. Despite the decline in profitability, the company saw a significant improvement in net cash provided by operating activities, reaching $290.8 million for the six-month period, and increased share repurchases to $230.0 million.

Meritage Homes reported a decline in its second-quarter 2026 results, with diluted EPS falling 33% to $1.37 and home closing revenue decreasing 14% to $1.4 billion. The company attributed the softer performance to macroeconomic uncertainty and volatile interest rates. Despite the downturn, Meritage Homes returned $131 million to shareholders through share repurchases and dividends and maintained a strong balance sheet with $807 million in cash and a net debt-to-capital ratio of 17.1%. The company also updated its full-year 2026 guidance, expecting home closing volume and revenue to be around 5% below 2025 results.

Meritage Homes Corporation reported a significant decline in its second-quarter 2026 financial results, with net earnings falling 38% to $90.6 million and diluted EPS decreasing 33% to $1.37. Home closing revenue also dropped 14% to $1.4 billion, and home orders were down 9% year-over-year, attributed to macroeconomic uncertainty and volatile interest rates. Despite the challenging market, the company maintained strong liquidity with $807 million in cash and returned $131 million to shareholders through buybacks and dividends. Meritage Homes updated its full-year 2026 guidance, expecting home closing volume and revenue to be approximately 5% below 2025 levels.

Meritage Homes Corporation entered into the Twelfth Amendment to its Amended and Restated Credit Agreement, enhancing its financial flexibility. The amendment increases the credit facility size to $980.0 million and extends the maturity date by approximately one year to June 24, 2031. Additionally, the accordion feature now allows for a potential increase in the facility size to $1.470 billion, and the adjusted SOFR rate has been revised.

Meritage Homes Corporation announced its plan to release second quarter 2026 financial results on Wednesday, July 29, 2026, after the market closes. Following the release, management will host a conference call to discuss the results on Thursday, July 30, 2026, at 8:00 a.m. Pacific Time. Investors can access the live webcast by registering on the company's Investor Relations page or by dialing in directly.

Meritage Homes, in partnership with Operation Homefront, will donate its 22nd mortgage-free home to a military family in Gulfport, Mississippi, as part of its Permanent Homes for Veterans Program. This initiative, ongoing since 2013, provides a safe and stable environment for veterans transitioning to civilian life. The new 2,000 sq ft home will be presented in November, marking a continued commitment to honoring service members.

Meritage Homes Corporation held its Annual Meeting of Stockholders, where shareholders elected six Class I Directors and ratified Deloitte & Touche LLP as the independent auditor for the 2026 fiscal year. Stockholders also approved, on an advisory basis, the compensation of named executive officers and a reduction in the ownership threshold to call a special meeting to 25%. A separate shareholder proposal to improve the ability to call a special meeting was not approved.

Meritage Homes Corporation announced that its Board of Directors has declared a quarterly dividend of $0.48 per share. This dividend is scheduled to be paid on June 30, 2026, to shareholders who are on record as of the close of trading on June 16, 2026.

Meritage Homes Corporation's CEO, Phillippe Lord, and CFO, Hilla Sferruzza, certified the company's Quarterly Report on Form 10-Q for the period ending March 31, 2026. They affirmed the report's full compliance with the Securities Exchange Act of 1934 and its fair presentation of the company's financial condition and results of operations. This certification is a standard regulatory requirement.

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.