---
schema_version: "secwatch.filing_event.v1"
accession: "0000833079-23-000127"
form_type: "8-K"
ticker: "MTH"
cik: "0000833079"
company_name: "Meritage Homes CORP"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:36:21.304616+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Meritage Q2 EPS $5.02, down 26% YoY; home closing revenue $1.54B up 10%; orders decline 11%

## Summary
- Net earnings $186.8M ($5.02 diluted EPS) vs $250.1M ($6.77) in Q2 2022, a 25% decrease.
- Home closing revenue rose 10% to $1.543B on 8% more closings (3,490 units); ASP on closings up 1% to $442K.
- Home closing gross margin contracted 720 bps to 24.4% from 31.6% due to greater sales incentives and higher direct costs.
- Home orders fell 11% to 3,340 units; average absorption pace 3.9 per month vs 4.4 a year ago.
- Full-year 2023 guidance: 13,300-13,800 closings, home closing revenue $5.85-6.07B, diluted EPS $19.12-19.80.

## SEC filing metadata
- accession: 0000833079-23-000127
- form_type: 8-K
- ticker: MTH
- cik: 0000833079
- company_name: Meritage Homes CORP
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/0000833079-23-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/mth-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000833079-23-000127
- JSON: https://secwatch.observer/filing/0000833079-23-000127.json
- Plain text: https://secwatch.observer/filing/0000833079-23-000127.txt

## Key facts
- Earnings Releases
  Meritage Homes CORP reported quarterly period ended June 30, 2023 results: revenue $1,543,021, net income $186,836, EPS $5.02.
  - Period: quarterly period ended June 30, 2023
  - Revenue: $1,543,021
  - Net income: $186,836
  - EPS: $5.02
  - Result: reported results
  source text: share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 % Chg 2023 2022 % Chg Homes closed (units) 3,490 3,221 8 % 6,387 6,079 5 % Home closing revenue $ 1,543,021 $ 1,408,947 10 % $ 2,804,944 $ 2,654,403 6 % Average sales price — closings $ 442 $ 437 1 % $ 439 $ 437 — % Home orders (units) 3,340 3,767 (11) % 6,827 7,641 (11) % Home order
  evidence_url: https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/0000833079-23-000127-index.htm
- Earnings Releases
  Meritage Homes CORP reported six months ended June 30, 2023 results: revenue $2,804,944, net income $318,137, EPS $8.56.
  - Period: six months ended June 30, 2023
  - Revenue: $2,804,944
  - Net income: $318,137
  - EPS: $8.56
  - Result: reported results
  source text: Ended June 30, Six Months Ended June 30, 2023 2022 % Chg 2023 2022 % Chg Homes closed (units) 3,490 3,221 8 % 6,387 6,079 5 % Home closing revenue $ 1,543,021 $ 1,408,947 10 % $ 2,804,944 $ 2,654,403 6 % Average sales price — closings $ 442 $ 437 1 % $ 439 $ 437 — % Home orders (units) 3,340 3,767 (11) % 6,827 7,641 (11) % Home order value $ 1,474,713 $ 1,809,870
  evidence_url: https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/0000833079-23-000127-index.htm
- Earnings Releases
  Meritage Homes CORP reported full year 2023 results: revenue $5.85-6.07 billion, EPS $19.12-19.80. Guidance raised.
  - Period: full year 2023
  - Revenue: $5.85-6.07 billion
  - EPS: $19.12-19.80
  - Guidance: raised
  - Result: guidance update
  source text: we are projecting 13,300-13,800 home closings for full year 2023, which we anticipate will generate home closing revenue of $5.85-6.07 billion. Home closing gross margin is projected to be in the low 24% range. With an estimated effective tax rate of 22.5%, we expect diluted EPS to be in the range of $19.12-19.80 for full year 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/0000833079-23-000127-index.htm

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