Meritage Homes CORP
For the period ended Oct 28, 2025. Filed Oct 28, 2025.
View on SEC.govAbout this filing
A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Oct 28, 2025 · Filed Oct 28, 2025
MTH$68.05-4.2%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (In thousands, except per share data)
(In thousands, except per share data)
| Three Months Ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2025 · 2024 · Change $ · Change % | ||||||||
| Homebuilding: | ||||||||
| Home closing revenue | $1,399,335 | $1,585,784 | $(186,449) | (12)% | ||||
| Land closing revenue | 16,068 | 2,665 | 13,403 | 503% | ||||
| Total closing revenue | 1,415,403 | 1,588,449 | (173,046) | (11)% | ||||
| Cost of home closings | (1,132,378) | (1,193,219) | (60,841) | (5)% | ||||
| Cost of land closings | (15,876) | (1,985) | 13,891 | 700% | ||||
| Total cost of closings | (1,148,254) | (1,195,204) | (46,950) | (4)% | ||||
| Home closing gross profit | 266,957 | 392,565 | (125,608) | (32)% | ||||
| Land closing gross profit | 192 | 680 | (488) | (72)% | ||||
| Total closing gross profit | 267,149 | 393,245 | (126,096) | (32)% | ||||
| Financial Services: | ||||||||
| Revenue | 8,460 | 8,070 | 390 | 5% | ||||
| Expense | (4,311) | (3,706) | 605 | 16% | ||||
| Earnings/(loss) from financial services unconsolidated entities and other, net | 331 | (1,263) | 1,594 | (126)% | ||||
| Financial services profit | 4,480 | 3,101 | 1,379 | 44% | ||||
| Commissions and other sales costs | (99,722) | (97,898) | 1,824 | 2% | ||||
| General and administrative expenses | (51,787) | (59,198) | (7,411) | (13)% | ||||
| Interest expense | — | — | — | —% | ||||
| Other income, net | 8,128 | 10,682 | (2,554) | (24)% | ||||
| Earnings before income taxes | 128,248 | 249,932 | (121,684) | (49)% | ||||
| Provision for income taxes | (28,951) | (53,966) | (25,015) | (46)% | ||||
| Net earnings | $99,297 | $195,966 | $(96,669) | (49)% | ||||
| Earnings per common share: | ||||||||
| Basic · Change $ or shares · Change % | ||||||||
| Earnings per common share | $1.40 | $2.70 | $(1.30) | (48)% | ||||
| Weighted average shares outstanding | 70,680 | 72,452 | (1,772) | (2)% | ||||
| Diluted | ||||||||
| Earnings per common share | $1.39 | $2.67 | $(1.28) | (48)% | ||||
| Weighted average shares outstanding | 71,188 | 73,338 | (2,150) | (3)% | ||||
| 2025 · 2024 · Change $ · Change % | ||||||||
|---|---|---|---|---|---|---|---|---|
| Homebuilding: | ||||||||
| Home closing revenue | $4,357,148 | $4,745,618 | $(388,470) | (8)% | ||||
| Land closing revenue | 39,766 | 4,970 | 34,796 | 700% | ||||
| Total closing revenue | 4,396,914 | 4,750,588 | (353,674) | (7)% | ||||
| Cost of home closings | (3,453,213) | (3,535,589) | (82,376) | (2)% | ||||
| Cost of land closings | (37,128) | (4,283) | 32,845 | 767% | ||||
| Total cost of closings | (3,490,341) | (3,539,872) | (49,531) | (1)% | ||||
| Home closing gross profit | 903,935 | 1,210,029 | (306,094) | (25)% | ||||
| Land closing gross profit | 2,638 | 687 | 1,951 | 284% | ||||
| Total closing gross profit | 906,573 | 1,210,716 | (304,143) | (25)% | ||||
| Financial Services: | ||||||||
| Revenue | 24,967 | 22,734 | 2,233 | 10% | ||||
| Expense | (13,159) | (10,633) | 2,526 | 24% | ||||
| Earnings/(loss) from financial services unconsolidated entities and other, net | 1,846 | (4,853) | 6,699 | (138)% | ||||
| Financial services profit | 13,654 | 7,248 | 6,406 | 88% | ||||
| Commissions and other sales costs | (303,272) | (304,113) | (841) | —% | ||||
| General and administrative expenses | (163,967) | (163,114) | 853 | 1% | ||||
| Interest expense | — | — | — | n/a | ||||
| Other income, net | 28,479 | 31,202 | (2,723) | (9)% | ||||
| Loss on early extinguishment of debt | — | (631) | (631) | (100)% | ||||
| Earnings before income taxes | 481,467 | 781,308 | (299,841) | (38)% | ||||
| Provision for income taxes | (112,485) | (167,771) | (55,286) | (33)% | ||||
| Net earnings | $368,982 | $613,537 | $(244,555) | (40)% | ||||
| Earnings per common share: | ||||||||
| Basic · Change $ or shares · Change % | ||||||||
| Earnings per common share | $5.17 | $8.45 | $(3.28) | (39)% | ||||
| Weighted average shares outstanding | 71,346 | 72,572 | (1,226) | (2)% | ||||
| Diluted | ||||||||
| Earnings per common share | $5.13 | $8.36 | $(3.23) | (39)% | ||||
| Weighted average shares outstanding | 71,879 | 73,402 | (1,523) | (2)% | ||||
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