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MERITAGE HOMES CORPORATION

(MTH)
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Meritage Homes Releases Inaugural Environmental, Social and Governance Report

11/18/2021 | 05:34pm EST

SCOTTSDALE, Ariz., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE:MTH), the sixth-largest homebuilder in the U.S., today announced the release of its inaugural Environmental, Social and Governance (“ESG”) report to increase transparency of its ESG strategy and initiatives as well as related key performance metrics. The 2020 ESG report also highlights the Company’s ongoing approach to long-term sustainability practices, diversity, equity and inclusion (“DE&I”) efforts and milestones achieved during the year. The company intends to provide annual updates to its ESG reporting.

Environmental, social and governance matters are central to our strategy and integrated into our everyday business operations,” said Steven J. Hilton, executive chairman of Meritage Homes. “While we have been sharing our ESG-related performance since our first corporate sustainability report in 2012, this report is the next step in documenting our ESG journey. It outlines how our strategy is aligned with long-term value creation for our stakeholders, our communities, and our planet.”

As part of this report, Meritage provided disclosures under the internationally recognized frameworks of the Sustainability Accounting Standards Board, the Global Reporting Initiative and the United Nations Sustainable Development Goals.

Key highlights from Meritage’s 2020 ESG report include:
Environmental:

  • Delivered 10,603 ENERGY STAR® certified homes with an average HERS Index Score of 56.
  • Began double-certifying new Meritage homes by adding the U.S. Environmental Protection Agency’s Indoor airPLUS certification to its ENERGY STAR® certification.
  • Conducted its first greenhouse gas emissions measurement.

Social:

  • Added the option of 100% contactless selling to further digitize the customer buying experience and make it easier to interact virtually while buying a home.
  • Developed a DE&I strategic roadmap with a dedicated full-time leader to implement the strategy.
  • Conducted company-wide training focused on unconscious bias in the workplace.
  • Continued to invest in our employees, resulting in 94% of our employees being proud to work for Meritage and a Glassdoor average employee rating of 4.3 out of 5.
  • Donated $750,000 to help those affected by COVID-19, fighting hunger and combating homelessness.

Governance:

  • Established the Environmental, Social & Sustainability board committee to guide its ESG mission.
  • Increased gender diversity of its board to 22 percent.

Since 2009, we have invested hundreds of millions of dollars in a relentless pursuit of building better, smarter, healthier homes through game-changing, money-saving energy efficiency, thoughtful design and higher building standards,” said Phillippe Lord, chief executive officer of Meritage Homes. “Our ESG report provides our stakeholders deeper insight into our activities and successes, as well as insight into our social and governance actions. Although there is so much more work we can do, I am proud that our achievements are meaningful and long-lasting.”

For more information on Meritage’s ESG initiatives and to view the full 2020 ESG report, visit https://investors.meritagehomes.com/environmental-social-and-governance/esgreports.

About Meritage Homes Corporation
Meritage Homes is the sixth-largest public homebuilder in the United States, based on homes closed in 2020. The Company offers a variety of homes that are designed with a focus on entry-level and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Meritage Homes has delivered over 145,000 homes in its 36-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is the industry leader in energy-efficient homebuilding and an eight-time recipient of the U.S. Environmental Protection Agency’s ENERGY STAR® Partner of the Year for Sustained Excellence Award since 2013 for innovation and industry leadership in energy efficient homebuilding.

For more information, visit www.meritagehomes.com.

Contact
Emily Tadano, VP Investor Relations
(480) 515-8979
investors@meritagehomes.com


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ę GlobeNewswire 2021
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Sales 2021 5 136 M - -
Net income 2021 730 M - -
Net Debt 2021 351 M - -
P/E ratio 2021 5,20x
Yield 2021 -
Capitalization 3 713 M 3 713 M -
EV / Sales 2021 0,79x
EV / Sales 2022 0,59x
Nbr of Employees 1 570
Free-Float -
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Number of Analysts 11
Last Close Price 99,51 $
Average target price 139,00 $
Spread / Average Target 39,7%
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Managers and Directors
Phillippe Lord President, Chief Executive Officer & Director
Hilla Sferruzza Chief Financial Officer & Executive Vice President
Steven J. Hilton Executive Chairman
Clinton Szubinski Chief Operating Officer & Executive Vice President
Raymond Oppel Independent Non-Executive Director
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