Meritage Homes Continues Growth Trajectory with Strategic Acquisition

Meritage Homes further refined its strategic focus in the third quarter of 2024, achieving impressive results by concentrating on building move-in ready homes at affordable prices. The recent acquisition of assets from Elliott Homes, a reputable construction company on the Gulf Coast, marks Meritage's first acquisition since 2014 and opens promising opportunities in the Mississippi, Alabama, and Florida Panhandle markets. Through this acquisition, Meritage expands its market presence and capitalizes on the strength of the first-time buyer demographic. Special attention is given to efficient execution: the order backlog conversion rate was an impressive 145%, leading to home closing revenues of $1.6 billion. Additionally, the company's value per share increased by 15% to $139.02. Meritage Homes solidified its position not only through financial successes but also through recognition in the areas of climate protection and workplace culture. The company received the EPA Indoor airPLUS Leader Award 2024 and has repeatedly earned accolades as an outstanding workplace. The company’s strategic expansion also incorporates ecological and social initiatives in an annual ESG report. These steps reinforce Meritage Homes’ position in the market and prepare the company to achieve its goal of 20,000 units by 2025. By offering attractive financing options and skillfully managing existing and new properties, the company succeeds in meeting the challenges of the current volatile market and securing substantial growth.