Meritage Homes第三季度交付3187套住宅：交付收入11.6亿美元、订单同比降15%，土地投入削减近四成
总部位于 Arizona 州 Scottsdale 的住宅建筑商 Meritage Homes 10月28日公布2026年第三季度业绩：当季交付住宅3,187套，交付收入11.62亿美元，净利6,778万美元。公司是美国第五大住宅建筑商，在纽约证券交易所上市，股票代码 MTH。
交付量同比下降14%，交付收入同比下降17%，成交均价降至36.5万美元、同比下降4%。公司称，均价下降主要来自购房激励使用增加（包括利率买断）以及地区结构变化。
当季新订单3,083套，同比下降15%，订单金额11.79亿美元；平均每社区每月净销售3.0套。期末在手订单1,611套、价值6.37亿美元，运营社区增至348个，同比增加4%。
交付毛利率为17.4%，同比下降170个基点；剔除600万美元存货减值与终止土地交易费用后的调整后毛利率为17.9%。摊薄每股收益1.04美元，同比下降25%。
公司当季把土地投入同比削减近四成至3.29亿美元，并通过回购与分红向股东返还8,600万美元。执行董事长 Steven J. Hilton 表示，房贷利率上升与宏观不确定性使购房环境更具挑战，负担能力受限压低了消费者意愿，公司有意以保利润率优先于追求销售速度。
首席执行官 Phillippe Lord 表示，公司当季交付了相当于在手订单近190%的住宅量；季末现金6.77亿美元、循环信贷额度无借款，净债务资本比18.9%，每股账面价值同比增长4%。
Meritage Homes Delivers 3,187 Homes in Q3: Closing Revenue of $1.16 Billion, Orders Down 15%, Land Spend Cut Nearly 40%
Meritage Homes Corporation, the fifth-largest U.S. homebuilder headquartered in Scottsdale, Arizona, reported third-quarter 2026 results on October 28: it delivered 3,187 homes for closing revenue of $1.162 billion and net earnings of $67.8 million. The company trades on the NYSE under the ticker MTH.
Closings fell 14% year over year and closing revenue fell 17%, with the average closing price down 4% to $365,000. The company said the lower average price mainly reflected greater use of incentives, including rate buy-downs, and geographic mix.
New orders totaled 3,083 homes, down 15% year over year, worth $1.179 billion, at an average absorption pace of 3.0 net sales per month per community. The ending backlog was 1,611 homes valued at $637 million, and the ending community count rose 4% to 348.
Home closing gross margin was 17.4%, down 170 basis points year over year; excluding $6.0 million of inventory impairments and terminated land deal charges, the adjusted margin was 17.9%. Diluted earnings per share were $1.04, down 25%.
The company cut land investment nearly 40% year over year to $329 million and returned $86 million to shareholders through repurchases and dividends. Executive chairman Steven J. Hilton said rising mortgage rates and macroeconomic uncertainty made for a more challenging homebuying environment, with constrained affordability weighing on consumer sentiment, and that the company intentionally focused on preserving margins rather than pursuing a higher sales pace.
Chief executive Phillippe Lord said the company converted nearly 190% of its backlog during the quarter. It ended the quarter with $677 million in cash, no borrowings under its revolving credit facility, a net debt-to-capital ratio of 18.9%, and book value per share up 4% year over year.
来源：GSM·美国（原文链接）
图片来源：图：住宅木结构施工现场（资料图，与住宅建造题材相关）。美国国家职业安全卫生研究所 NIOSH 图，公共领域，经 Wikimedia Commons。Photo: Residential home framing at a construction site (file photo). NIOSH, public domain, via Wikimedia Commons.
