About Hilla Sferruzza
In a September 2020 interview, Sferruzza stated that she did not believe the economic recovery would be a "sharp V" or that conditions would quickly return to her initial budget. She noted that the "downside models" the company had modeled in March had proven more pessimistic than the actual outcome, and that Meritage Homes had continued operating under a modified model after being deemed an essential service during the pandemic lockdown. She added that the company's results were improving.
In December 2019, Sferruzza was named the FEI Arizona CFO of the Year. In remarks about her work, she said she "fundamentally believe[s]" in what she does and expressed satisfaction from being affiliated with a home builder, particularly in serving the entry-level market and seeing Millennials enter their first new homes.
Source: AI-verified profile updated from Hilla Sferruzza's recent appearances.
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Transcript (1 segments)
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Hilla Sferruzza0:00
I don't think anyone is intimating, myself included, that this is a sharp V recovery or that by summertime it's going to feel exactly like my initial budget that I submitted to the board in January. I don't think that's going to be the case. Although I will say that the downside models we were originally modeling back in the second half of March, we've seen reality much more stable than that. There was a downside scenario where we assumed zero homes were sold during the month of April and maybe even May, because we didn't know that we would be considered an essential service at that time. So we didn't know if we would even be able to sell and do any construction. Obviously, in the market, with a few limited exceptions in Northern California, we were deemed an essential service, so we continued operating in a modified model, of course, during the entire quarantine lockdown period. So our results are improving.
