earnings
confidence high
sentiment neutral
materiality 0.80
Meritage Homes Q3 EPS $7.10, +35% YoY; orders -33%; guides Q4 EPS $6.50-7.40
Meritage Homes CORP
2022-Q3 EPS reported
$19.65
- Q3 diluted EPS $7.10 vs $5.25 a year ago; net earnings $262.5M (+31%).
- Home closing revenue $1.57B (+25%); homes closed 3,487 (+12%).
- Home orders 2,310 (-33%); cancellation rate 30%; average absorption pace 2.7/mo (down from 5.0).
- Home closing gross margin 28.7% (vs 29.7%); Q4 guidance ~25% due to increased incentives.
- Terminated ~5,200 lots with $8.8M walk-away charge; net debt-to-capital 18.9%.