Mattamy Homes Q4 revenue drops 18% as orders jump 40%

Mattamy Group Corporation reported lower revenue and closings but stronger sales orders in its fiscal fourth quarter ended May 31, 2026, suggesting early signs of a demand recovery for the North American homebuilder. The Toronto-based company said fourth-quarter revenue fell 17.9% year over year to $2.18 billion, down from $2.66 billion in the same period a year earlier, according to a company announcement. Closings also declined, with homes closed down 10.4% to 3,143 units from 3,509. At the same time, net sales orders rose sharply in the quarter, up 40% to 2,532 homes compared with 1,808 a year earlier. Mattamy’s sales order backlog decreased 20% to 3,147 units, from 3,934 units in the prior-year quarter, suggesting the builder continued to convert earlier demand into deliveries even as new orders picked back up. For the full fiscal year ending May 31, 2026, revenue declined 7.9% to $5.90 billion, compared with $6.40 billion in the prior year. Full-year homes closed slipped 2.3% to 8,261 from 8,453. Net sales orders for the year increased 8.6% to 7,474 homes, up from 6,885. The mixed results reflect broader conditions facing large homebuilders in 2025 and 2026 as higher mortgage ...