How did Meritage Homes' revenue and expenses trend in Q4 2024?

Meritage Homes' revenue and expenses in Q4 2024 showed a business focus on home closing activities, with significant revenue generated from this segment. Here's a detailed analysis:

1. **Revenue Trend**:
- Meritage Homes reported a total revenue of $6.34 billion for the quarter.
- The company's revenue was distributed across different segments, with the most significant portion coming from home closing activities, amounting to $4.75 billion.
- The remaining revenue was split between land closing activities, which generated $1.34 billion, and miscellaneous business activities, contributing $22.33 million and $15.42 million, respectively.

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|MTH|MTH.N|Meritage Homes|20240101-2024|Land closing|2.2326E7|169|
|MTH|MTH.N|Meritage Homes|20240101-2024|Land closing|4970000|169|
|MTH|MTH.N|Meritage Homes|20240101-2024|Land closing|2305000|169|
|MTH|MTH.N|Meritage Homes|20240101-2024|Home closing|1.466096E9|169|
|MTH|MTH.N|Meritage Homes|20240101-2024|Land closing|2305000|169|
|MTH|MTH.N|Meritage Homes|20240101-2024|Home closing|1.466096E9|169|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|MTH|MTH.N|Meritage Homes|2024 Q1|41.67142672180715|1.86016E8|169|
|MTH|MTH.N|Meritage Homes|2024 Q2|23.934894774026418|2.31555E8|169|
|MTH|MTH.N|Meritage Homes|2024 Q3|-11.631493506493506|1.95966E8|169|
|MTH|MTH.N|Meritage Homes|2024 Q4|-13.176700142317616|1.72649E8|169|

|code|Ticker|Name|Date|Selling, General, and Administrative Expenses|Selling, General, and Administrative Expenses YoY|market_code|
|---|---|---|---|---|---|---|
|MTH|MTH.N|Meritage Homes|20240331|5.0732E7|6.761505923946211|169|
|MTH|MTH.N|Meritage Homes|20240630|5.3184E7|2.002301495972382|169|
|MTH|MTH.N|Meritage Homes|20240930|5.9198E7|-6.170452203959361|169|
|MTH|MTH.N|Meritage Homes|20241231|6.7742E7|-1.7833323667575247|169|

2. **Expense Trend**:
- The company's net income for the quarter was $172.65 million.
- Operating expenses, which include costs related to home closing and land closing, were not provided separately. However, the selling, general, and administrative (SG&A) expenses were reported at $67.74 million.
- The SG&A expenses are a component of the total expenses incurred by the company, indicating that the cost management efforts were effective as reflected by the net income achieved.
3. **Conclusion**:
- In Q4 2024, Meritage Homes demonstrated strong revenue generation, particularly from home closing activities.
- The company managed its expenses efficiently, as evidenced by the positive net income.
- The land closing activities, although contributing less to the overall revenue, were still significant and should not be overlooked in the company's operational cost structure.