Meritage (MTH) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Meritage Homes (MTH) reported $1.47 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 14.8%. EPS of $5.06 for the same period compares to $3.54 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.28 billion, representing a surprise of +14.54%. The company delivered an EPS surprise of +42.94%, with the consensus EPS estimate being $3.54.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Meritage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Home Closing Revenue - Average sales price - Total: $418 compared to the $408.66 average estimate based on 10 analysts.

• Order Backlog - Total: 3,033 compared to the 3,303 average estimate based on 10 analysts.

• Homes closed - Total: 3,507 compared to the 3,118 average estimate based on 10 analysts.

• Homes ordered - Total: 3,991 versus the 10-analyst average estimate of 3,880.

• Order Backlog - Average sales price - Total: $410 compared to the $427.69 average estimate based on eight analysts.

• Order Backlog Value - Total: $1.24 billion versus $1.44 billion estimated by seven analysts on average.

• Home Orders - Average sales price - Total: $409 versus $413.46 estimated by seven analysts on average.

• Homes Ordered Value - Total: $1.63 billion compared to the $1.62 billion average estimate based on six analysts.

• Revenue- Home closing: $1.47 billion versus the 10-analyst average estimate of $1.27 billion. The reported number represents a year-over-year change of +16.2%.

• Revenue- Financial Services: $6.35 million compared to the $5.97 million average estimate based on nine analysts. The reported number represents a change of +10.9% year over year.

• Revenue- Total closing revenue (Homebuilding): $1.47 billion compared to the $1.28 billion average estimate based on nine analysts. The reported number represents a change of +14.8% year over year.

• Revenue- Land closing: $2.31 million versus the eight-analyst average estimate of $9.66 million. The reported number represents a year-over-year change of -86.7%.

View all Key Company Metrics for Meritage here>>>

Shares of Meritage have returned -5.2% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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