MTH Q2 2026: Earnings fall 38% as Iran conflict, affordability pressures drive margin compression

Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 25, 2025 · ~2 min read

Key Changes

• high

  Q2 2026 net earnings fell 38.3% to $90.6M from $146.9M in Q2 2025, driven by 10.7% lower closings, 280bp gross margin compression to 18.3%, and weaker demand tied to Iran military actions and affordability concerns.

  MD&A: Q2 Results verify on EDGAR →
• high

  Orders pace plunged 18.6% to 3.5 net homes per month, below the company's 4.0 target, while cancellation rate rose 300bp to 13%, reflecting the tougher selling environment.

  MD&A: Orders & Cancellations verify on EDGAR →
• high

  Company accelerated buybacks to $230M in H1 2026 (up 156% from $90M in H1 2025) and raised quarterly dividend 11.6% to $0.48 per share, returning capital despite earnings decline.

  Notes: Equity view on EDGAR →