Meritage Homes posts record Q1 sales orders; diluted EPS up 43% to $5.06

Meritage Homes CORP

2024-Q1 EPS reported $5.06

Net earnings $186M ($5.06 diluted EPS) vs $131M ($3.54) prior year, up 43%.
Home closing revenue $1.47B (+16% YoY) on 3,507 homes closed (+21%).
Home closing gross margin improved to 25.8% from 22.4%, aided by lower incentives.
Record quarterly sales orders of 3,991 homes (+14% YoY) with 91% entry-level.
Full-year 2024 guidance: home closing revenue $6.0-6.2B, diluted EPS $19.20-20.70.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Meritage Homes CORP reported first quarter results for the period ended March 31, 2024 results: revenue $1,466,096, net income $186,016, EPS $5.06.

Period: first quarter results for the period ended March 31, 2024
Revenue: $1,466,096
Net income: $186,016
EPS: $5.06
Result: reported results

Exact text from the filing

Results (unaudited) (Dollars in thousands, except per share amounts) Three Months Ended March 31, 2024 2023 % Chg Homes closed (units) 3,507 2,897 21 % Home closing revenue $ 1,466,096 $ 1,261,923 16 % Average sales price — closings $ 418 $ 436 (4) % Home orders (units) 3,991 3,487 14 % Home order value $ 1,631,195 $ 1,506,893 8 % Average sales price — orders $

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Source: SEC EDGAR

accession 0000833079-24-000077

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