Meritage Homes Corporation reported second quarter 2026 results showing a 38% year-over-year decline in net earnings to $90.6 million, or diluted EPS of $1.37, compared to $146.9 million and $2.04 per share in the prior year period. Home closing revenue fell 14% to $1.39 billion as closings decreased 11% to 3,725 units with an average sales price of $373,000. Orders declined 9% to 3,575 homes, and gross margin contracted by 280 basis points to 18.3%. The company returned $131 million to shareholders through dividends and share repurchases, maintaining a cash balance of $807 million with no revolving credit facility borrowings. Meritage Homes operates in the residential homebuilding industry.

Meritage Homes Corporation entered into the Twelfth Amendment to its Amended and Restated Credit Agreement on June 24, 2026, increasing the facility size to $980.0 million and allowing for potential increases up to $1.470 billion via an accordion feature. The amendment also extends the maturity date from July 9, 2030, to June 24, 2031, and revises the adjusted SOFR rate. Meritage Homes Corporation is a homebuilder operating in the residential construction industry.