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Meritage Homes — Oct 29, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000833079-24-000118
Open on SEC.gov ↗
Showing in the filing
Home closing gross margin
“22.5-23.5%”
Period
Q4 FY2024
Measure
GAAP-tied
Source
Prose
All guidance in this release · 5
Home closing volume for Q4 FY2024
“3,750-3,950 units”
Home closing revenue for Q4 FY2024
“$1.50-1.59 billion”
Home closing gross margin for Q4 FY2024
“22.5-23.5%”
Effective tax rate for Q4 FY2024
“Approximately 22.5%”
Diluted EPS for Q4 FY2024
“$4.10-4.60”
Exhibit 99.1 · the passage around this item
… earlier in the release
GUIDANCE The Company is providing the following guidance for the fourth quarter of 2024, based on year to date results and current market conditions: Fourth Quarter 2024 Home closing volume 3,750-3,950 units Home closing revenue $1.50-1.59 billion Home closing gross margin 22.5-23.5% Effective tax rate Approximately 22.5% Diluted EPS $4.10-4.60 CONFERENCE CALL Management will host a conference call to discuss its third quarter 2024 results at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) on Wednesday, October 30, 2024. To listen, please go to Meritage's Investor Relations page for the live webcast or dial in to 1-877-407-6951 US toll free or 1-412-902-0046. A replay will be available on the Investor Relations page. * The Company's return on equity is calculated as net income for the trailing twelve months divided by average total stockholders' equity for the trailing five quarters. The Company's book value per share is calculated as total stockholders' equity as of the last day of the period divided by the shares outstanding as of the last day of the period. 5 Meritage Homes Corporation and Subsidiaries Consolidated Income Statements (In thousands, except per share data) (Unaudited)     Three Months Ended September 30, 2024 2023 Change $ Change % Homebuilding: Home closing revenue $ 1,585,784  $ 1,610,317  $ (24,533) (2) % Land closing revenue 2,665  2,783  (118) (4) % Total closing revenue 1,588,449  1,613,100  (24,651) (2) % Cost of home closings (1,193,2
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.