---
schema_version: "secwatch.filing_event.v1"
accession: "0000833079-23-000092"
form_type: "8-K"
ticker: "MTH"
cik: "0000833079"
company_name: "Meritage Homes CORP"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T14:43:51.985268+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Meritage Homes Q1 net earnings down 40% to $131M; EPS $3.54 vs $5.79

## Summary
- Home closing revenue $1.26B (+1% YoY); home closing gross margin fell 790 bps to 22.4%.
- Home orders 3,487 units (-10% YoY); cancellation rate improved to 15% from 39% in Q4 2022.
- Balance sheet strong: cash $957M, net debt-to-capital 4.5%; initiated $0.27/share dividend.
- Backlog units down 41% to 3,922; average active communities rose to 274.5 from 263.5.
- Effective tax rate 20.6% benefited from earned energy tax credits under Inflation Reduction Act.

## SEC filing metadata
- accession: 0000833079-23-000092
- form_type: 8-K
- ticker: MTH
- cik: 0000833079
- company_name: Meritage Homes CORP
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/833079/000083307923000092/0000833079-23-000092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/833079/000083307923000092/mth-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000833079-23-000092
- JSON: https://secwatch.observer/filing/0000833079-23-000092.json
- Plain text: https://secwatch.observer/filing/0000833079-23-000092.txt

## Key facts
- Earnings Releases
  Meritage Homes CORP reported first quarter ended March 31, 2023 results: revenue $1,261,923, net income $131,301, EPS $3.54 per diluted share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $1,261,923
  - Net income: $131,301
  - EPS: $3.54 per diluted share
  - Result: reported results
  source text: Results (unaudited) (Dollars in thousands, except per share amounts) Three Months Ended March 31, 2023 2022 % Chg Homes closed (units) 2,897 2,858 1 % Home closing revenue $ 1,261,923 $ 1,245,456 1 % Average sales price — closings $ 436 $ 436 — % Home orders (units) 3,487 3,874 (10) % Home order value $ 1,506,893 $ 1,767,710 (15) % Average sales price — orders
  evidence_url: https://www.sec.gov/Archives/edgar/data/833079/000083307923000092/0000833079-23-000092-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.