MERITAGE HOMES CORPORATION (NYSE:MTH) Files An 8-K Regulation FD DisclosureITEM 7.01. REGULATION FD DISCLOSURE.
Meritage Homes Corporation (the “Company”) will be meeting with investors at a conference this week. As part of these meetings, the Company will discuss the impact of Hurricane Harvey on its Houston operations and the homebuilding market in general. An excerpt from management’s handout materials concerning the impact of Hurricane Harvey is attached hereto as Exhibit 99.1.
The information included at Exhibit 99.1 contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include management's expectations with respect to the potential impacts of Hurricane Harvey on our Houston business.
Such statements are based upon the current beliefs and expectations of Company management, and current market conditions, which are subject to significant uncertainties and fluctuations. Actual results may differ from those set forth in the forward-looking statements. The Company makes no commitment, and disclaims any duty, to update or revise any forward-looking statements to reflect future events or changes in these expectations. Meritage's business is subject to a number of risks and uncertainties. As a result of those risks and uncertainties, the Company's stock and note prices may fluctuate dramatically. These risks and uncertainties include, but are not limited to, the following: potential adverse impacts on our Houston sales, closings, revenue and costs due to Hurricane Harvey; the availability and cost of finished lots and undeveloped land; changes in interest rates and the availability and pricing of residential mortgages; the success of strategic initiatives; shortages in the availability and cost of labor; changes in tax laws that adversely impact us or our homebuyers; the ability of our potential buyers to sell their existing homes; cancellation rates; inflation in the cost of materials used to develop communities and construct homes; the adverse effect of slow absorption rates; impairments of our real estate inventory; a change to the feasibility of projects under option or contract that could result in the write-down or write-off of earnest or option deposits; our potential exposure to and impacts from natural disasters or severe weather conditions; competition; construction defect and home warranty claims; failures in health and safety performance; our success in prevailing on contested tax positions; our ability to obtain performance bonds in connection with our development work; the loss of key personnel; enactment of new laws or regulations or our failure to comply with laws and regulations; our limited geographic diversification; fluctuations in quarterly operating results; our level of indebtedness; our ability to obtain financing; our ability to successfully integrate acquired companies and achieve anticipated benefits from these acquisitions; our compliance with government regulations; the effect of legislative and other governmental actions, orders, policies or initiatives that impact housing, labor availability, construction, mortgage availability, our access to capital, the cost of capital or the economy in general, or other initiatives that seek to restrain growth of new housing construction or similar measures; legislation relating to energy and climate change; the replication of our energy-efficient technologies by our competitors; our exposure to information technology failures and security breaches; and other factors identified in documents filed by the Company with the Securities and Exchange Commission, including those set forth in our Form 10-K for the year ended December 31, 2016 and our subsequent Forms 10-Q, under the caption "Risk Factors," which can be found on our website.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit
Number Description
Meritage Homes CORP ExhibitEX-99.1 2 slidepresentationrehurrica.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Hurricane Harvey Impact on Houston•Unprecedented flooding — situation is fluid and will be for some time•Houston Division offices and communities closed for one week•Minimal property damage to few homes in active communities•All but one community opened for business by 9/1; last one opened 9/6•Sales,…To view the full exhibit click here
About MERITAGE HOMES CORPORATION (NYSE:MTH)
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family detached homes. It operates in two segments: homebuilding and financial services. It offers a range of homes that are designed to offer to a range of homebuyers. It has homebuilding operations in over three regions: West, which includes Arizona, California Central and East; Central region, which includes Texas, and the East region includes Florida, Georgia, North Carolina, South Carolina and Tennessee. Its homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services. Its homebuilding and marketing activities are conducted under the Meritage Homes brand, other than in Tennessee, where it operates under the Phillips Builders brand, and in the Atlanta and Greenville markets, where it operates under the Legendary Communities brand.
