Quarter ended March 31, 2026.
| Closings | 2,967 (↓13%) |
| Revenue | $1.1B (↓17%) |
| Gross margin | 17.5% |
| Orders | 3,664 (↓5%) |
From the call
“Our 60-day closing guarantee, available supply of new completed spec inventory, and year-over-year improved cycle times contributed to another quarter with an exceptional backlog conversion rate of 254%.”
Meritage sells certainty: a move-in-ready home and a guaranteed close in 60 days. That is why it cut starts 30% when demand softened.
Source: Meritage Homes 8-K and earnings call.
