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Meritage (MTH)
NYSE:MTH
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.01Last Year’s EPS
1.69Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mixed picture: Meritage demonstrated operational strengths (record backlog conversion, faster cycle times, disciplined spec management, direct cost savings, strong liquidity) and aggressive capital returns (robust buybacks and dividends). However, those positives were offset by meaningful near-term weaknesses — lower revenue and closings, substantial margin compression, sizable nonrecurring land walkaway and impairment charges, elevated incentives, and reduced absorption/starts — leading management to adopt a conservative near-term posture. The company emphasizes long-term confidence in its strategy and a healthy balance sheet but faces material short-term profitability and demand headwinds.Company Guidance
Exceptional Backlog Conversion and Faster Cycle Times
All-time high backlog conversion rate of 221% in Q4 (benefiting from a 60-day closing guarantee); cycle times improved to sub-110 calendar days, enabling a higher share of intra-quarter deliveries and greater operational flexibility.
Community Count Growth and Market Footprint Expansion
Ending community count rose 15% year-over-year to 336 communities (all-time high); opened 35 new communities in Q4 and over 160 communities in full year 2025; management expects another 5%–10% community count growth in 2026.
Strong Capital Returns and Share Repurchases
Returned ~$179 million of capital to shareholders in Q4 via buybacks and dividends; repurchased ~2.2 million shares in Q4 at an average discount of ~12% to 2025 year-end book value; full-year 2025 buybacks totaled $295 million (reducing shares outstanding by ~6%) and $514 million remains available under the repurchase program.
Healthy Balance Sheet and Liquidity
Cash of $775 million and no draws on credit facility at December 31, 2025; net debt-to-cap of 16.9% (well within the mid-20% ceiling), supporting planned capital deployment and land flexibility.
Operational Cost Improvements
Direct construction cost savings of nearly 4% per square foot year-over-year on more recent starts; management highlighted improved back-office productivity from technology investments and targeted SG&A savings.
Spec Inventory Management
Total spec homes of ~5,800 at quarter end (down 17% year-over-year and 8% sequentially); specs per store declined to 17 from 24 a year ago, producing a 5-month supply in line with the 4–6 month target and positioning for the spring selling season.
Guidance and Prudence
Company guided 2026 full-year closings and home closing revenue in line with 2025 (assumes no material market changes); Q1 2026 outlook: 3,000–3,300 closings, $1.13B–$1.24B revenue, and home closing gross margin of 18%–19%, reflecting conservative near-term planning.
Customer Credit Quality and Realtor Relationships
Customer credit metrics (FICO, DTI, LTV) remain consistent with historical averages; co-broke capture rate in the low 90s and 40% repeat realtor volume, supporting sales-channel strength.
MTH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MTH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 28, 2026 | $69.18 | $69.96 | +1.13% |
Oct 28, 2025 | $70.60 | $66.67 | -5.57% |
Jul 23, 2025 | $73.90 | $70.22 | -4.98% |
Apr 23, 2025 | $66.96 | $67.66 | +1.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Meritage (MTH) report earnings?
Meritage (MTH) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Meritage (MTH) earnings time?
Meritage (MTH) earnings time is at Apr 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MTH EPS forecast?
MTH EPS forecast for the fiscal quarter 2026 (Q1) is 1.01.