Meritage Homes Q2 net earnings fall 38% to $91 million on lower closings
Meritage Homes reported second quarter 2026 results with home closing revenue down 14% to $1.4 billion and net earnings down 38% year over year. The company said full-year 2026 home closing volume and revenue are expected to be around 5% below 2025, which signals weaker sales for shareholders this year.
Key points
- Diluted EPS was $1.37 for Q2 2026 versus $2.04 a year earlier; adjusted diluted EPS was $1.42 versus $2.09.
- Home closing gross margin fell to 18.3% from 21.1%, and 3,725 homes closed, down 11%.
- Full-year 2026 guidance: home closing volume and revenue around 5% below full-year 2025, and could trend lower if incentives rise.
- The company repurchased $100 million of stock in Q2 and ended the quarter with $807 million in cash.
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 July 29, 2026.
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.