Meritage Homes Corporation (NYSE:MTH) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET

Company Participants

Emily Tadano - VP, IR

Steve Hilton - Executive Chairman

Phillippe Lord - CEO

Hilla Sferruzza - EVP and CFO

Conference Call Participants

Stephen Kim - Evercore ISI

Truman Patterson - Wolf Research

Alan Ratner - Zelman & Associates

Carl Reichardt - BTIG

John Lovallo - UBS

Michael Rehaut - JPMorgan

Deepa Raghavan - Wells Fargo

Operator

Greetings. Welcome to the Meritage Homes First Quarter 2022 Analyst Call. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to your host, Vice President of Investor Relations Emily Tadano. You may begin.

Emily Tadano

Thank you, operator. Good morning and welcome to our analyst call to discuss our first quarter 2022 results. We issued the press release yesterday after the market closed. You can find it along with the slides we will refer to during this call on our website at investors.meritagehomes.com or by selecting the Investor Relations link at the bottom of our homepage.

Please refer to Slide 2 cautioning you that our statements during this call, as well as the press release and accompanying slides contain forward-looking statements, including, but not limited to, our views regarding the health of the housing market, economic conditions, changes in interest rates, the potential benefits of rate lock, community count and absorption, trends in construction costs, supply chain and labor constraints and cycle times, projected second quarter and full-year 2022 home closings and revenue, gross margins, tax rates and diluted earnings per share, potential future disruptions to our business from an epidemic or pandemic such as COVID 19 as well as others. Those and any other projections represent the current opinions of management, which are subject to change at any time, and we assume no obligation to update them.

Any forward-looking statements are inherently uncertain. Our actual results may be materially different than our expectations due to a wide variety of risk factors, which we have identified and listed on this slide, as well as in our press release and most recent filings with the Securities and Exchange Commission, specifically our 2021 annual report on Form 10-K, which contain a more detailed discussion of those risks.

We've also provided a reconciliation of certain non-GAAP financial measures referred to in our press release as compared to their closest related GAAP measures.