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Mar 31, 2020
Meritage Homes Q1 2020 Earnings Report
Reported strong revenue and earnings growth driven by increased home closings and improved gross margins.
Key Takeaways
Meritage Homes reported a significant increase in net earnings and revenue for Q1 2020. Net earnings increased by 180% and revenue grew by 27%. The company's diluted EPS also saw a substantial increase, rising by 182%.
Net earnings increased 180% year-over-year.
Home closing revenue increased 27% year-over-year.
Home closing gross margin improved to 20.0% from 16.7% a year ago.
Total orders for the first quarter of 2020 increased 23% year-over-year, driven by a 35% year-over-year increase in absorptions.
Meritage Homes
Meritage Homes
Meritage Homes Revenue by Geographic Location
Forward Guidance
Due to the lack of visibility at this time, the company withdrew its previous guidance and will plan to provide future guidance at a more appropriate time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income