Meritage Homes Q1 net earnings fall 34% to $123 million; full-year guidance reiterated
Meritage Homes reported first quarter 2025 net earnings of $123 million, or $1.69 per diluted share, down 34% from $186 million, or $2.53 per diluted share, a year earlier. Home closing revenue fell 8% to $1.3 billion on lower closing volume and a lower average sales price, and the company reiterated its full-year 2025 guidance. For shareholders, the filing shows lower profit on weaker home sales, with the 2025 outlook unchanged.
Key points
- Net earnings $123 million ($1.69 diluted EPS) vs. $186 million ($2.53) in Q1 2024
- Home closing revenue $1.3 billion, down 8%; homes closed 3,416, down 3%; home closing gross margin 22.0% vs. 25.8%
- Full-year 2025 guidance reiterated: 16,250-16,750 home closings and $6.6-6.9 billion home closing revenue
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:00 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.