Meritage Homes Q2 FY26 net earnings drop 38% to $90.63 million; revenue falls 14% to $1.4 billion
Reuters2026/07/29 21:05- Meritage Homes Q2 net earnings fell 38% to USD 90.63 million; diluted EPS slid 33% to USD 1.37.
- Revenue dropped 14% to USD 1.4 billion, with closings down 11% to 3,725 homes and average closing price off 4% to USD 373,000.
- Home closing gross margin narrowed 2.8 percentage points to 18.3%; adjusted margin was 18.6% after USD 3.6 million impairments.
- Orders declined 9% to 3,575 homes, while backlog edged down 2% to 1,715 homes valued at USD 661.91 million.
- Management cited softer-than-expected spring demand; guidance now targets 2026 closings and revenue about 5% below 2025.
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