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Meritage (MTH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Meritage Homes (MTH - Free Report) reported $1.57 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 11%. EPS of $5.02 for the same period compares to $6.77 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.31 billion, representing a surprise of +19.52%. The company delivered an EPS surprise of +43.84%, with the consensus EPS estimate being $3.49.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $442 versus $435.01 estimated by nine analysts on average.
Homes closed - Total: 3490 versus 2998.56 estimated by nine analysts on average.
Homes ordered - Total: 3340 compared to the 3617.31 average estimate based on nine analysts.
Order Backlog - Total: 3772 versus 4555.15 estimated by eight analysts on average.
Order Backlog - Average sales price - Total: $447 compared to the $445.35 average estimate based on seven analysts.
Order Backlog Value - Total: $1.69 billion versus the six-analyst average estimate of $2.01 billion.
Home Closed Value - Central Region: $456.80 million compared to the $388.87 million average estimate based on four analysts.
Homes closed - West Region: 997 versus 879.01 estimated by four analysts on average.
Revenue- Total closing revenue (Homebuilding): $1.57 billion compared to the $1.31 billion average estimate based on 10 analysts. The reported number represents a change of +11% year over year.
Revenue- Home closing: $1.54 billion compared to the $1.30 billion average estimate based on 10 analysts. The reported number represents a change of +9.5% year over year.
Revenue- Land closing: $24.38 million compared to the $6.05 million average estimate based on nine analysts. The reported number represents a change of +609.9% year over year.
Revenue- Financial Services: $6.21 million versus the nine-analyst average estimate of $5.28 million.
Shares of Meritage have returned -1.4% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Meritage (MTH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Meritage Homes (MTH - Free Report) reported $1.57 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 11%. EPS of $5.02 for the same period compares to $6.77 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.31 billion, representing a surprise of +19.52%. The company delivered an EPS surprise of +43.84%, with the consensus EPS estimate being $3.49.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $442 versus $435.01 estimated by nine analysts on average.
- Homes closed - Total: 3490 versus 2998.56 estimated by nine analysts on average.
- Homes ordered - Total: 3340 compared to the 3617.31 average estimate based on nine analysts.
- Order Backlog - Total: 3772 versus 4555.15 estimated by eight analysts on average.
- Order Backlog - Average sales price - Total: $447 compared to the $445.35 average estimate based on seven analysts.
- Order Backlog Value - Total: $1.69 billion versus the six-analyst average estimate of $2.01 billion.
- Home Closed Value - Central Region: $456.80 million compared to the $388.87 million average estimate based on four analysts.
- Homes closed - West Region: 997 versus 879.01 estimated by four analysts on average.
- Revenue- Total closing revenue (Homebuilding): $1.57 billion compared to the $1.31 billion average estimate based on 10 analysts. The reported number represents a change of +11% year over year.
- Revenue- Home closing: $1.54 billion compared to the $1.30 billion average estimate based on 10 analysts. The reported number represents a change of +9.5% year over year.
- Revenue- Land closing: $24.38 million compared to the $6.05 million average estimate based on nine analysts. The reported number represents a change of +609.9% year over year.
- Revenue- Financial Services: $6.21 million versus the nine-analyst average estimate of $5.28 million.
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 +3.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.