secwatch.observer — SEC 8-K summary
======================================

Issuer:     Meritage Homes CORP (MTH)
CIK:        0000833079
Form:       8-K
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0000833079-23-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Meritage Homes reports record Q4 EPS $7.09, but orders plunge 46% YoY with 39% cancellation rate
--------------------------------------------------------------------------------

- Q4 GAAP diluted EPS $7.09, up 13% YoY; full year EPS $26.74, up 39% YoY.
- Home closing revenue $2.0B (+32% YoY) on 4,540 closings (+29%); ASP $437K (+3%).
- Q4 home orders 1,808 units (-46% YoY); cancellation rate 39% as company validated backlog.
- Home closing gross margin 25.2% (adj. 25.7%) vs 29.0% (adj. 29.2%) a year ago.
- Cash $861.6M; net debt-to-capital 6.8%; repurchased 1.17M shares ($109.3M) in FY 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/833079/000083307923000005/0000833079-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/833079/000083307923000005/mth-20230201.htm
  HTML page:      https://secwatch.observer/filing/0000833079-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer