For the quarter ended December 2023, Meritage Homes (MTH - Free Report) reported revenue of $1.65 billion, down 17% over the same period last year. EPS came in at $5.38, compared to $7.09 in the year-ago quarter.
The reported revenue represents a surprise of +8.57% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $5.18, the EPS surprise was +3.86%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Meritage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Homes ordered - Total: 2,892 compared to the 3,041 average estimate based on 10 analysts.
- Order Backlog - Total: 2,549 versus the 10-analyst average estimate of 3,034.
- Homes closed - Total: 3,951 versus 3,608 estimated by 10 analysts on average.
- Order Backlog Value - Total: $1.09 billion compared to the $1.31 billion average estimate based on seven analysts.
- Active Communities - Ending - Total: 270 compared to the 281 average estimate based on seven analysts.
- Homes Ordered Value - Total: $1.20 billion versus the seven-analyst average estimate of $1.29 billion.
- Homes Ordered Value - East Region: $432.38 million compared to the $465.80 million average estimate based on four analysts.
- Home Closed Value - East Region: $613.23 million compared to the $533.92 million average estimate based on four analysts.
- Revenue- Total closing revenue (Homebuilding): $1.65 billion versus the 10-analyst average estimate of $1.52 billion. The reported number represents a year-over-year change of -17%.
- Revenue- Home closing: $1.64 billion versus $1.52 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -17.3% change.
- Revenue- Land closing: $11.68 million compared to the $6.36 million average estimate based on nine analysts. The reported number represents a change of +59.4% year over year.
- Revenue- Financial Services: $7.20 million versus the nine-analyst average estimate of $6.16 million. The reported number represents a year-over-year change of -2.1%.
View all Key Company Metrics for Meritage here>>>Shares of Meritage have returned -1.4% over the past month versus the Zacks S&P 500 composite's +3.3% 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
For the quarter ended December 2023, Meritage Homes (MTH - Free Report) reported revenue of $1.65 billion, down 17% over the same period last year. EPS came in at $5.38, compared to $7.09 in the year-ago quarter.
The reported revenue represents a surprise of +8.57% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $5.18, the EPS surprise was +3.86%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Meritage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Homes ordered - Total: 2,892 compared to the 3,041 average estimate based on 10 analysts.
- Order Backlog - Total: 2,549 versus the 10-analyst average estimate of 3,034.
- Homes closed - Total: 3,951 versus 3,608 estimated by 10 analysts on average.
- Order Backlog Value - Total: $1.09 billion compared to the $1.31 billion average estimate based on seven analysts.
- Active Communities - Ending - Total: 270 compared to the 281 average estimate based on seven analysts.
- Homes Ordered Value - Total: $1.20 billion versus the seven-analyst average estimate of $1.29 billion.
- Homes Ordered Value - East Region: $432.38 million compared to the $465.80 million average estimate based on four analysts.
- Home Closed Value - East Region: $613.23 million compared to the $533.92 million average estimate based on four analysts.
- Revenue- Total closing revenue (Homebuilding): $1.65 billion versus the 10-analyst average estimate of $1.52 billion. The reported number represents a year-over-year change of -17%.
- Revenue- Home closing: $1.64 billion versus $1.52 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -17.3% change.
- Revenue- Land closing: $11.68 million compared to the $6.36 million average estimate based on nine analysts. The reported number represents a change of +59.4% year over year.
- Revenue- Financial Services: $7.20 million versus the nine-analyst average estimate of $6.16 million. The reported number represents a year-over-year change of -2.1%.
View all Key Company Metrics for Meritage here>>>Shares of Meritage have returned -1.4% over the past month versus the Zacks S&P 500 composite's +3.3% 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on MTH - FREE