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Jun 30, 2022
Meritage Homes Q2 2022 Earnings Report
Meritage Homes' Q2 2022 results were reported, highlighting the achievement of its 300 community goal, a 55% increase in diluted EPS, and a 430 bps increase in home closing gross margin over the prior year.
Key Takeaways
Meritage Homes reported strong second quarter 2022 results, with a 6% increase in sales orders, an 11% increase in home closing revenue to $1.4 billion, and a 430 bps improvement in home closing gross margin to 31.6%. Diluted EPS increased by 55% year-over-year to $6.77.
Achieved long-term goal of 300 communities, ending June 2022 with 303 communities.
Sales orders increased by 6% year-over-year, driven by a 33% increase in average community count.
Home closing revenue increased by 11% year-over-year to $1.4 billion.
Home closing gross margin improved by 430 bps year-over-year to 31.6%.
Meritage Homes
Meritage Homes
Forward Guidance
Due to the lack of visibility into the market at this time, we are not providing full year 2022 guidance.