Meritage Homes Full Year 2024 Earnings: EPS Beats Expectations

Meritage Homes (NYSE:MTH) Full Year 2024 Results

Key Financial Results

• Revenue: US$6.40b (up 4.2% from FY 2023).
• Net income: US$786.2m (up 6.4% from FY 2023).
• Profit margin: 12% (in line with FY 2023).
• EPS: US$10.85 (up from US$10.09 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Meritage Homes EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 102%.

The primary driver behind last 12 months revenue was the Home Closed - East segment contributing a total revenue of US$2.39b (37% of total revenue). Notably, cost of sales worth US$4.78b amounted to 75% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to US$409.1m (50% of total expenses). Explore how MTH's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's share price is broadly unchanged from a week ago.

Valuation

Following the latest earnings results, Meritage Homes may be undervalued based on 6 different valuation benchmarks we assess. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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