
• Reported GAAP EPS of $0.82 down -52.05% YoY • Reported revenue of $1.12B down -17.67% YoY • Meritage Homes is updating its guidance for full year 2026 home closing volume and revenue to be at or within 5% of full year 2025 results, based on current market conditions.
Bullish
Meritage Homes demonstrated operational efficiency with improved cycle times and a strong balance sheet, ending Q1 2026 with $767 million cash, a 6% book value increase, and its highest community count.
Bearish
Meritage Homes experienced significant declines in Q1 2026 net earnings and gross margin due to increased incentives and lower revenue, exacerbated by negative consumer sentiment and higher mortgage rates.