The following is a summary of the Meritage Homes Corporation (MTH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Meritage Homes reported Q1 revenue of $1.5 billion, with home deliveries of 3,507 units contributing to this figure.

• The gross margin for the quarter stood at 25.8%, helped by a sales order volume of 3,991 homes.

• The earnings per share for the period were $5.06.

• The book value per share increased 17% year-on-year to $129.98.

• The return on equity was reported to be 18%.

Business Progress:

• Meritage Homes was recognized as an EPA's ENERGY STAR Partner of the Year and made Newsweek's 2024 America's Greenest Companies list.

• -The company also featured on Forbes' 2024 list of the most successful mid-cap companies.

• -The company is increasing investment in its land acquisitions and off-balance-sheet financing opportunities.

• -It forecasted its full-year 2024 home closing revenue to be in the region of $6 billion to $6.2 billion.

• -The Company has shifted its focus to the entry-level market segment and is strategizing to increase absorption rates in this segment.

• -The projected gross margins for FY 2025 could be similar or higher than FY 2024.

More details: Meritage Homes IR

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