Meritage Homes (MTH) Tops Q4 EPS by 13c

Meritage Homes Reports Fourth Quarter 2015 Results, Including 23% Order Growth, 11% Increase in Home Closing Revenue and 6% Increase in Diluted EPS at $1.26

January 28, 2016 8:31 AM EST

SCOTTSDALE, AZ -- (Marketwired) -- 01/28/16 -- Meritage Homes Corporation (NYSE: MTH), a leading U.S. homebuilder, today announced fourth quarter and full year results for the periods ended December 31, 2015.

Summary Operating Results (unaudited) (Dollars in thousands, except per share amounts) Three Months Ended Twelve Months Ended December 31, December 31, 2015 2014 %Chg 2015 2014 %Chg ---------- ---------- ---- ---------- ---------- ----- Homes closed (units) 1,919 1,863 3% 6,522 5,862 11% Home closing revenue $ 761,372 $ 688,288 11% $2,531,556 $2,142,391 18% Average sales price - closings $ 397 $ 369 8% $ 388 $ 365 6% Home orders (units) 1,568 1,272 23% 7,100 5,944 19% Home order value $ 634,181 $ 490,999 29% $2,822,785 $2,238,117 26% Average sales price - orders $ 404 $ 386 5% $ 398 $ 377 6% Ending backlog (units) 2,692 2,114 27% Ending backlog value $1,137,681 $ 846,452 34% Average sales price - backlog $ 423 $ 400 6% Net earnings $ 52,897 $ 49,208 7% $ 128,738 $ 142,241 (9)% Diluted EPS $ 1.26 $ 1.19 6% $ 3.09 $ 3.46 (11)%... More