Meritage Homes Q1 earnings fall 55% to $55 million; 2026 guidance updated
Meritage Homes reported first quarter 2026 net earnings of $55 million, or $0.82 per diluted share, down 55% from $123 million, or $1.69 per share, a year earlier. Home closing revenue fell 17% to $1.1 billion on 13% fewer closings, and home closing gross margin dropped to 17.5% from 22.0%. The company also updated its full-year 2026 guidance, saying home closing volume and revenue are expected to be at or within 5% of full-year 2025 results, which signals a weak outlook for shareholders.
Key points
- Net earnings of $55 million ($0.82 per diluted share) vs. $123 million ($1.69) in Q1 2025
- Home closing revenue of $1.1 billion, down 17%; 2,967 homes closed, down 13%
- Home closing gross margin of 17.5% vs. 22.0%, including $2.4 million in real estate impairments
- Full-year 2026 guidance: home closing volume and revenue at or within 5% of full-year 2025 results
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing 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 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.