Meritage Homes Q4 net earnings fall 13% to $172.6M; full year record closings of 15,611 homes

Meritage Homes CORP

2024-FY EPS reported $10.72

Q4 diluted EPS $4.72 vs $5.38; net earnings $172.6M, down 13% YoY.
Full year home closing revenue $6.34B (+5%) with record 15,611 closings (+12%).
Q4 home closing gross margin 23.2% (down 200bps YoY) and orders up 14% to 3,304.
FY 2025 guidance: home closings 16,250-16,750 units, revenue $6.6-6.9B.
Acquired Elliott Homes (~5,500 lots); net debt-to-capital 11.7%; stock split Jan 2, 2025.

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