Meritage Homes — Oct 28, 2025 release

All share and per share amounts in this press release have been retroactively restated to reflect the Stock Split for the third quarter of 2024 and the first nine months of 2024. GUIDANCE The Company is providing the following guidance for the fourth quarter of 2025, based on year to date results and current market conditions: Fourth Quarter 2025 Home closing volume 3,800-4,000 units Home closing revenue $1.46-1.54 billion Home closing gross margin 19-20% Effective tax rate Approximately 24.5% Diluted EPS $1.51-1.70 CONFERENCE CALL Management will host a conference call to discuss its third quarter 2025 results at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) on Wednesday, October 29, 2025. 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. 5 Meritage Homes Corporation and Subsidiaries Consolidated Income Statements (In thousands, except per share data) (Unaudited)     Three Months Ended September 30, 2025 2024 Change $ Change % Homebuilding: Home closing revenue $ 1,399,335  $ 1,585,784  $ (186,449) (12) % Land closing revenue 16,068  2,665  13,403  503  % Total closing revenue 1,415,403  1,588,449  (173,046) (11) % Cost of home closings (1,132,378) (1,193,219) (60,841) (5) % Cost of land closings (15,876) (1,985) 13,891  700  % Total cost of closings (1,148,254) (1,195,204) (46,950) (4) % Home closing gross profit 266,957  392,565  (125,608) (32) % Land closing gross profit 192  680  (488) (72) % Total closin