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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