Meritage Homes Corporation (NYSE: MTH) reported Q2 EPS of $4.36, $0.93 better than the analyst estimate of $3.43. Revenue for the quarter came in at $0 versus the consensus estimate of $1.17 billion.

GUIDANCE:

Meritage Homes Corporation sees 2021 EPS of $18.55-$19.45, versus the consensus of $14.72.

Mr. Lord added, “Based on our current forecast and confidence in delivering our backlog, we are projecting 2021 home closings of approximately 12,500-13,000 and 2021 home closing revenue in the range of $5.00-5.25 billion. In addition, we anticipate full year home closing gross margin of around 27.5% and an effective tax rate of 22.5-23.0%, which we expect will translate into approximately $18.55-19.45 of diluted EPS for 2021.”

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