Meritage Homes (MTH) Q1 Earnings Beat, Orders & Backlog Up

Meritage Homes Corporation’s (MTH) stock gained 12.7% in the after-hours trading session on Apr 24 after it reported impressive results for first-quarter 2024. Both earnings and total closing revenues surpassed the Zacks Consensus Estimate and increased on a year-over- year basis. The upside was backed by higher deliveries. Solid execution on its spec building and streamlined strategy helped it achieve yet another record backlog conversion rate of 138% and a return on equity of 18% during the quarter. Earni ...