secwatch.observer — SEC 8-K summary
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Issuer:     Meritage Homes CORP (MTH)
CIK:        0000833079
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0000833079-23-000092
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/833079/000083307923000092/0000833079-23-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/833079/000083307923000092/mth-20230426.htm
  HTML page:      https://secwatch.observer/filing/0000833079-23-000092

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