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Meritage (MTH)
NYSE:MTH
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Earnings Data
Report Date
Jan 29, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$4.53Last Year’s EPS
$5.38Same Quarter Last Year
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -15.48%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Neutral
The earnings call revealed a strong operational and strategic performance by Meritage Homes, highlighted by impressive order volumes, a record backlog conversion rate, and strategic acquisitions. However, challenges such as decreased average sales prices, impacts from recent hurricanes, and a volatile mortgage rate environment were noted, which affected margins and required increased incentives. Despite these challenges, the company demonstrated resilience through strategic moves and strong financials.Company Guidance
During the third quarter 2024 earnings call for Meritage Homes, the company provided forward-looking guidance, highlighting several key metrics. The company achieved a record backlog conversion rate of 145%, resulting in 3,942 home deliveries and home closing revenue of $1.6 billion. Their gross margin for home closings stood at 24.8%, with SG&A leverage at 9.9%, contributing to a diluted EPS of $5.34. For the fourth quarter of 2024, Meritage Homes anticipates total closings between 3,750 and 3,950 units, home closing revenue of $1.5 billion to $1.59 billion, and a home closing gross margin ranging from 22.5% to 23.5%. Additionally, the company projects full-year 2025 closings to fall between 16,500 and 17,500 units, with home closing revenue between $6.7 billion and $7.1 billion, reflecting double-digit year-over-year growth.Strong Order Volume
Q3 2024 orders totaled 3,512 homes, demonstrating strong market demand and effective strategy implementation, with a 1% year-over-year increase.
High Backlog Conversion Rate
Achieved a company record backlog conversion of 145%, leading to 3,942 home deliveries and $1.6 billion in home closing revenue.
Corporate Recognition and Awards
Received the EPA's 2024 Indoor airPLUS Leader Award and earned the Great Place to Work certification for the second consecutive year.
Strategic Acquisition
Completed the acquisition of Elliott Homes, adding over 5,500 lots in the Gulf Coast, expected to generate meaningful volume in 2025.
Increased Shareholder Value
Increased book value per share by 15% year-over-year to $139.2, and generated a return on equity of 17.2%.
Successful Financial Performance
Despite market volatility, the company maintained strong financials with a decrease in SG&A to 9.9% and EPS of $5.34.
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MTH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MTH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $179.73 | $176.74 | -1.66% |
| Jul 24, 2024 | $189.96 | $191.58 | +0.85% |
| Apr 24, 2024 | $152.74 | $162.99 | +6.71% |
| Jan 31, 2024 | $162.76 | $150.92 | -7.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Meritage (MTH) report earnings?
Meritage (MTH) is schdueled to report earning on Jan 29, 2025, After Close Not Confirmed.
What is Meritage (MTH) earnings time?
Meritage (MTH) earnings time is at Jan 29, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MTH EPS forecast?
MTH EPS forecast for the fiscal quarter 2024 (Q4) is $4.53.
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