Meritage Homes — Apr 23, 2025 release

As of March 31, 2025, $264 million remained available to repurchase under the authorized share repurchase program. 3 • During the first quarter of 2025, the Company issued $500 million of 5.650% senior notes due 2035. GUIDANCE The Company is reiterating the following guidance for full year 2025: Full Year 2025 Home closing volume 16,250-16,750 units Home closing revenue $6.6-6.9 billion CONFERENCE CALL Management will host a conference call to discuss its first quarter 2025 results at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) on Thursday, April 24, 2025. To listen, please go to Meritage's Investor Relations page for the live webcast or dial in to 1-877-407-6951 US toll free or 1-412-902-0046. A replay will be available on the Investor Relations page. * The Company's return on equity is calculated as net earnings for the trailing twelve months divided by average total stockholders' equity for the trailing five quarters. 4 Meritage Homes Corporation and Subsidiaries Consolidated Income Statements (In thousands, except per share data) (Unaudited)     Three Months Ended March 31, 2025 2024 Change $ Change % Homebuilding: Home closing revenue $ 1,342,104  $ 1,466,096  $ (123,992) (8) % Land closing revenue 15,421  2,305  13,116  569  % Total closing revenue 1,357,525  1,468,401  (110,876) (8) % Cost of home closings (1,046,454) (1,088,138) (41,684) (4) % Cost of land closings (12,256) (2,298) 9,958  433  % Total cost of closings (1,058,710) (1,090,436) (31,726) (3) % Home closing gross profit 295,650  377,958  (82,308) (22)