Meritage Homes Q4 2024 Earnings Report
Key Takeaways
Meritage Homes reported a decrease in home closing revenue and diluted EPS for Q4 2024 compared to Q4 2023. However, home orders increased by 14% year-over-year. The company's focus on affordability and move-in ready homes contributed to a company-record backlog conversion rate.
Home orders increased 14% year-over-year, driven by an increase in average absorption pace.
Home closing revenue decreased 3% year-over-year due to a lower average sales price.
Home closing gross margin decreased to 23.2% due to greater utilization of financing incentives and higher lot costs.
Net earnings decreased 13% year-over-year, resulting in diluted EPS of $4.72.
Meritage Homes
Meritage Homes
Meritage Homes Revenue by Geographic Location
Forward Guidance
The Company is providing the following updated guidance for full year 2025, based on current market conditions: Full Year 2025Home closing volume16,250-16,750 unitsHome closing revenue$6.6-6.9 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income