Meritage Homes Corporation (MTH) reported a significant downturn in Q3 2025 financial performance, characterized by net earnings plummeting to \(99.3M (versus \)196.0M YoY) and Diluted EPS falling to \(1.39 for the quarter. Year-to-date net earnings were \)369.0M, down sharply from $613.5M in 2024. The core Homebuilding segment experienced severe margin compression, with Q3 closing gross margin dropping to 19.1% (down 570 basis points) due to increased incentives and rising lot costs. YTD Homebuilding Gross Margin fell to 20.7% from 25.5%.
Operationally, the company expanded its scale to a record
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