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Meritage Homes (MTH) Beats Q2 Earnings and Revenue Estimates
Meritage HomesMeritage Homes(US:MTH) ZACKSยท2024-07-24 22:40

Core Viewpoint - Meritage Homes reported quarterly earnings of $6.31 per share, exceeding the Zacks Consensus Estimate of $5.17 per share, and showing an increase from $5.02 per share a year ago [1] Earnings Performance - The company has surpassed consensus EPS estimates in all of the last four quarters [2] - The recent quarterly report represents an earnings surprise of 22.05%, with a previous quarter's surprise of 42.94% [7] Revenue Insights - Meritage posted revenues of $1.69 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 7.53%, compared to $1.57 billion in the same quarter last year [11] - The current consensus EPS estimate for the upcoming quarter is $5.19 on revenues of $1.61 billion, and for the current fiscal year, it is $20.27 on revenues of $6.21 billion [5] Stock Performance - Meritage shares have increased by approximately 13.5% since the beginning of the year, while the S&P 500 has gained 16.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market [9] Industry Context - The Building Products - Home Builders industry, to which Meritage belongs, is currently in the top 20% of over 250 Zacks industries, suggesting a favorable outlook [14]