Meritage Homes Q2 2026: EPS beat masks a rough spring for MTH
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Meritage Homes beat profit expectations with adjusted EPS of $1.42 but missed revenue as a sluggish spring selling season knocked home closings down 11% year-over-year, forcing the builder to slash its full-year volume and revenue guidance 5% below 2025.
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Meritage Homes posted adjusted earnings per share of $1.42 in Q2 2026, coming in about 9% above the $1.30 consensus estimate. The profit beat was the bright spot in an otherwise difficult quarter: revenue of $1.40 billion fell just shy of the $1.41 billion analysts expected, and home closings dropped 11% compared with the same period a year ago when the company recorded $1.70 billion in revenue — its strongest quarter in the data set.
The culprit was a sluggish spring selling season, which is typically the most important stretch of the year for homebuilders. With buyer demand failing to materialize at expected levels, Meritage was left with fewer homes to close, putting direct pressure on the top line. The revenue shortfall stands out all the more when placed against Q1 2026's $1.12 billion result, which was already the weakest quarter in the trailing nine-period trend.
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The damage extended to the full-year outlook. Management cut its volume and revenue guidance, now projecting both to come in roughly 5% below 2025 levels. That downward revision signals the company does not expect conditions to meaningfully improve in the back half of the year, making the next few quarters' order and cancellation data the key figures to watch.
Mentioned: MTH