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Earnings Call Summary | Meritage Homes(MTH.US) Q1 2024 Earnings Conference

moomoo AI ·  Apr 26 11:54  · Conference Call

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

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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