With home orders falling 23 percent, closings sliding 28 percent, and a 41 percent cancellation rate, Meritage Homes joins the long list of big builders who faced an unstable third quarter. The Arizona-based builder is reporting a net loss of $119 million for the period ending Sept. 30. The results of the quarter were released after the stock market closed on Thursday. More
Citing “baseless” claims of environmental impact, the NAHB celebrated a June... More
July 28, 2007: Public builders announce their quarterly results; Wells Fargo bounces its subprime unit; and new-home sales decline again. BUILDER Online catches you up with the news you might have missed. More
All the recent earnings reports in one place, as reported on by the BUILDER Online staff. More
Meritage Homes Corp. is reporting a net loss of $57 million after real estate and goodwill-related impairments reduced net earnings by $70 million after tax for the second quarter ending June 30. The Scottsdale, Arizona-based home builder joins a number of other public builders who have reported losses this week. "Weakened demand and increased price incentives have resulted in lower margins on homes sold and more write-offs on remaining inventories," said Steven J. Hilton, chairman and CEO of Meritage Homes More
