Earnings Releases·Oct 28, 2026, 4:31 PM ET

Meritage Homes — Third Quarter 2026 Earnings Summary

Home closing revenue declined 17% year-over-year to $1.162 billion in Q3 2026, with net earnings falling 32% to $67.8 million ($1.04 diluted EPS) and gross margins contracting 170 basis points to 17.4%.
Management is prioritizing margin preservation over sales volume amid unpredictable market conditions, resulting in a 15% year-over-year drop in home orders and a 21% decrease in average absorption pace.
The company returned $86 million to shareholders in Q3 2026 via $55 million in share repurchases and $31 million in dividends, bringing year-to-date capital returns to nearly $380 million (177% of earnings).
Capital discipline is evident with land acquisition spend down 40% year-over-year to $329 million, while the balance sheet remains strong with $677.5 million in cash and no borrowings on the revolving credit facility.