Meritage Homes Q3 EPS $5.34, down 11% YoY; record closings but margins compress

Meritage Homes CORP

2024-Q3 EPS reported $16.72

Q3 diluted EPS $5.34 vs $5.98 YoY; net earnings $196M, down 12%.
Home closing revenue $1.585B, down 2% on 9% lower ASP; closings up 8% to 3,942 units.
Home closing gross margin 24.8%, down 190 bps from 26.7% on higher lot costs and financing incentives.
Q4 2024 guidance: 3,750-3,950 closings, revenue $1.50-1.59B, diluted EPS $4.10-$4.60, gross margin 22.5-23.5%.
Quarterly dividend raised to $0.75/share (up 178%); $30M in share repurchases during Q3.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.