secwatch.observer — SEC 8-K summary
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Issuer:     Meritage Homes CORP (MTH)
CIK:        0000833079
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000833079-23-000127
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/0000833079-23-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/833079/000083307923000127/mth-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000833079-23-000127

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