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Compared to Estimates, Meritage (MTH) Q1 Earnings: A Look at Key Metrics
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Meritage Homes (MTH - Free Report) reported $1.28 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 0.6%. EPS of $3.54 for the same period compares to $5.79 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.01 billion, representing a surprise of +26.37%. The company delivered an EPS surprise of +41.04%, with the consensus EPS estimate being $2.51.
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:
Homes closed - Total: 2897 compared to the 2353.17 average estimate based on eight analysts.
Home Closing Revenue - Average sales price - Total: $436 compared to the $423.79 average estimate based on eight analysts.
Homes ordered - Total: 3487 versus 3536.06 estimated by eight analysts on average.
Order Backlog - Total: 3922 versus 4514.89 estimated by eight analysts on average.
Order Backlog - Average sales price - Total: $450 versus the seven-analyst average estimate of $434.68.
Order Backlog Value - Total: $1.76 billion versus $1.97 billion estimated by six analysts on average.
Home Orders - Average sales price - Total: $432 compared to the $400.48 average estimate based on five analysts.
Order Backlog Value - East Region Totals: $667.88 million versus the four-analyst average estimate of $830.07 million.
Revenue- Home closing: $1.26 billion compared to the $997.84 million average estimate based on nine analysts. The reported number represents a change of +1.3% year over year.
Revenue- Total closing revenue (Homebuilding): $1.28 billion versus $1 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
Revenue- Land closing: $17.39 million compared to the $5.26 million average estimate based on nine analysts. The reported number represents a change of -58.1% year over year.
Revenue- Financial Services: $5.73 million versus $3.79 million estimated by eight analysts on average.
Shares of Meritage have returned +5.4% over the past month versus the Zacks S&P 500 composite's +1.5% 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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Compared to Estimates, Meritage (MTH) Q1 Earnings: A Look at Key Metrics
Meritage Homes (MTH - Free Report) reported $1.28 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 0.6%. EPS of $3.54 for the same period compares to $5.79 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.01 billion, representing a surprise of +26.37%. The company delivered an EPS surprise of +41.04%, with the consensus EPS estimate being $2.51.
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:
- Homes closed - Total: 2897 compared to the 2353.17 average estimate based on eight analysts.
- Home Closing Revenue - Average sales price - Total: $436 compared to the $423.79 average estimate based on eight analysts.
- Homes ordered - Total: 3487 versus 3536.06 estimated by eight analysts on average.
- Order Backlog - Total: 3922 versus 4514.89 estimated by eight analysts on average.
- Order Backlog - Average sales price - Total: $450 versus the seven-analyst average estimate of $434.68.
- Order Backlog Value - Total: $1.76 billion versus $1.97 billion estimated by six analysts on average.
- Home Orders - Average sales price - Total: $432 compared to the $400.48 average estimate based on five analysts.
- Order Backlog Value - East Region Totals: $667.88 million versus the four-analyst average estimate of $830.07 million.
- Revenue- Home closing: $1.26 billion compared to the $997.84 million average estimate based on nine analysts. The reported number represents a change of +1.3% year over year.
- Revenue- Total closing revenue (Homebuilding): $1.28 billion versus $1 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
- Revenue- Land closing: $17.39 million compared to the $5.26 million average estimate based on nine analysts. The reported number represents a change of -58.1% year over year.
- Revenue- Financial Services: $5.73 million versus $3.79 million estimated by eight analysts on average.
View all Key Company Metrics for Meritage here>>>Shares of Meritage have returned +5.4% over the past month versus the Zacks S&P 500 composite's +1.5% 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.