Meritage Homes (NYSE:MTH) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.47b (up 15% from 1Q 2023).

• Net income: US$186.0m (up 42% from 1Q 2023).

• Profit margin: 13% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$5.12 (up from US$3.58 in 1Q 2023).

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

Meritage Homes Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 43%.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's shares are up 10.0% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Meritage Homes that you need to take into consideration.

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