Meritage (MTH) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Meritage Homes reported $1.42 billion in revenue for Q3 2025, a year-over-year decline of 10.9% and below the Zacks Consensus Estimate of $1.52 billion, resulting in a surprise of -6.85% [1] - The company's EPS for the quarter was $1.39, down from $2.67 a year ago, with an EPS surprise of -18.71% compared to the consensus estimate of $1.71 [1] Financial Performance Metrics - Total homes ordered were 3,636, slightly below the nine-analyst average estimate of 3,716 [4] - Average sales price for home closing revenue was $380.00, compared to the nine-analyst average estimate of $390.27 [4] - Order backlog totaled 1,699, exceeding the average estimate of 1,677 based on nine analysts [4] - Homes closed totaled 3,685, below the average estimate of 3,787 from nine analysts [4] - Order backlog average sales price was $394.00, lower than the $407.27 average estimate based on seven analysts [4] - Order backlog value was $670.01 million, compared to the estimated $724.95 million from six analysts [4] - Active communities at the end of the quarter totaled 334, above the average estimate of 316 from six analysts [4] - Average sales price for home orders was $389.00, compared to the five-analyst average estimate of $395.70 [4] - Total closing revenue from homebuilding was $1.42 billion, below the average estimate of $1.52 billion from ten analysts, representing a year-over-year change of -10.9% [4] - Home closing revenue was $1.4 billion, compared to the ten-analyst average estimate of $1.51 billion, reflecting a year-over-year change of -11.8% [4] - Land closing revenue was $16.07 million, significantly above the nine-analyst average estimate of $5.6 million, showing a year-over-year increase of +502.9% [4] - Financial services revenue was $8.46 million, slightly above the nine-analyst average estimate of $8.4 million, with a year-over-year change of +4.8% [4] Stock Performance - Meritage shares returned -1.8% over the past month, while the Zacks S&P 500 composite increased by +3.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]