Get noticed about the list of notable companies` earning reports after markets close today and before markets open tomorrow.

Meritage Homes (MTH) Q3 Earnings call transcript Oct 30, 2024

Daily EarningsWednesday, Oct 30, 2024 11:43 pm ET

1min read

MTH -- SG --

Meritage Homes, a leading builder of affordable move-in ready homes, reported a strong third quarter 2024 performance, demonstrating the success of its strategic focus on quick-turning, move-in ready homes. The company's absorption pace remains robust, with a 145% backlog conversion rate, generating 3,942 home deliveries and home closing revenue of $1.6 billion.

The strategic pivot towards quicker home completion and move-in readiness has contributed to a 24.8% home closing gross margin and a diluted EPS of $5.34. This quarter's results showcase Meritage Homes' ability to adapt to market conditions and maintain a competitive edge in the homebuilding industry.

Strategic Acquisition in the Gulf Coast

Meritage Homes announced the acquisition of the assets of Elliott Homes, a prominent private builder operating in the Gulf Coast. This acquisition marks Meritage's first since 2014 and is a strategic fit for the company, given the strength of the Gulf Coast markets and Elliott's alignment on affordability and product geared towards first-time homebuyers. With over 5,500 lots and a strong team joining Meritage, the company expects to generate meaningful volume from this new division in 2025 and beyond.

Market Conditions and Future Outlook

The company's sales orders for the third quarter totaled 3,512 homes, with 92% of the volume coming from entry-level homes. The cancellation rate remained below the historical average, indicating strong demand for Meritage's offerings. Looking ahead, Meritage expects to end the year with a higher community count, reflecting strong demand and strategic acquisitions. The company's focus on affordability and quick turnaround time is expected to continue driving market share growth and maintaining elevated home closing gross margins.

Financial Performance and Guidance

Meritage's financial results for the third quarter reflect the company's strategic shift towards move-in ready homes and its ability to navigate the volatile mortgage rate environment. The company's gross margin and SG&A percentage of home closing revenue improved, despite the challenges posed by higher land development costs and increased utilization of financing incentives.

Looking forward, Meritage expects to achieve significant growth in 2025, with a guidance of 16,500 to 17,500 unit closings and $6.7 billion to $7.1 billion in home closing revenue. This includes the Elliott Homes acquisition, which is expected to contribute to the company's expansion and market share growth.

Conclusion

Meritage Homes' third quarter 2024 results underscore the company's strategic pivot towards quick-turning, move-in ready homes and its ability to navigate market conditions and maintain a competitive edge. The acquisition of Elliott Homes marks a significant milestone in Meritage's growth strategy, positioning the company for continued success in the affordable homebuilding sector. The company's focus on affordability, quick turnaround time, and strategic acquisitions is expected to drive market share growth and maintain elevated home closing gross margins in the coming years.

Comments

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05/03

@ Makes sense

they_paid_for_it

05/02

Tom DeMark's market timer is ticking, but remember, markets are like that meme stock—nobody knows what's next. Keep your eyes peeled, but don't let the bears steal your picnic.

NeilCh

05/02

@they_paid_for_it Bear markets? More like bear memes. Who's holding YOLO stocks? 🚀🐻

confused-student1028

05/02

Remember when $TSLA took that nosedive? This time around, I'm better prepared for the volatility.

enosia1

05/02

DeMark's been spot on before. If he says bear, I'm keeping a close watch on my positions.

freekittykitty

05/02

Time to adjust portfolios, not panic.

pellosanto

05/02

Bear market vibes are creeping in, but I'm still holding $AAPL for the long haul. Diversification is key, folks.

FireRngesus

05/02

@pellosanto How long you planning to hold $AAPL? Curious if you've got a target in mind or any other stocks in your portfolio.

Relevations

05/02

Technicals are weak, and sentiment's shaky. Might be time to tighten those stop-losses, friends.

Urselff

05/02

Bear market vibes are creeping in

DumbStocker

05/02

S&P 500 on a roll, but DeMark says it's a house of cards. Next peak could be the last dance.

istockusername

05/02

Tom DeMark's got that bear market buzz. Are we heading for a 20% dip? Time to buckle up, folks.

Turbonik1

05/02

My strategy? Diversified portfolio, eyeing $AAPL for long-term growth. Not sweating the small stuff.

Ok-Swimmer-2634

05/02

@Turbonik1 How long you planning to hold $AAPL? Any specific price target in mind?

LurkerMcLurkington

05/02

DeMark's got the market on notice. Will we see a repeat of 2008, or just a hiccup? Only time tells.

Luka77GOATic

05/02

Tom DeMark's call: buckle up, folks

NeighborhoodOld7075

05/02

Market's fragile, and DeMark's countdown says "sell." Is anyone else hedging with options? 🤔

yeahyoubored

05/02

DeMark's got the goods on market turns. His firm's like a crystal ball for traders. 🤑

Puzzleheaded-Mood544

05/15

AI-driven dental imaging? Game changer for VITA.

iahord

05/15

Envista's EBITDA boost looks juicy. 200-300 bps is a big slice. 📈

Defiant-Tomatillo851

05/15

@iahord Big boost, but watch the execution.

Artistic_Studio2784

05/15

Envista's move is smart; it's like getting a tech upgrade while cutting risks. Win-win for them, and potentially sweet gains for us.

threefold_law

05/15

Hitachi deal = margin magic for Envista.

James___G

05/15

VITA's undervalued imo. 12x EBITDA is a bargain compared to peers. 🚀

josemartinlopez

05/15

VITA's undervalued, but that won't last long.

ghostboo77

05/15

Hitachi's AI is like a cheat code for Envista. Automation efficiency up, costs down. Win-win.

PlentyBet1369

05/15

Damn!!Those $NVST whale-sized options block were screaming danger! � Closed positions just in time profiting more than $115

NEYO8uw11qgD0J

05/15

@PlentyBet1369 How long were you holding NVST before closing your position? Curious about your strategy.

Ok_Statement1056

05/01

Damn!!the block option data in BDX stock saved me much money!

WhichAmphibian6678

05/16

Damn!!I profited significantly from the signal generated by HCTI stock.

StartupLifestyle2

05/16

@WhichAmphibian6678 How long were you holding HCTI, and what's your plan with the gains?

bllshrfv

04/23

$DIS might need more than Fubo to tackle $NFLX. Watching their next moves closely.

TobyAguecheek

04/23

@bllshrfv What do you think DISney's next move will be?

TenMillionYears

04/23

Sports fans on Disney+? Game changer if they pull it off. Risky but could shake up Netflix's dominance.

Master_Algae_2845

04/23

OMG!Those $DIS whale-sized options block were screaming danger! � Closed positions just in time profiting more than $266

NavyGuyvet

04/22

Holy!the Peak Seeker algorithm successfully identified both trough and apex inflection points in VVX equity's price action, while my execution latency resulted in material opportunity cost.

mayorolivia

04/23

P&G's margins squeezed by commodity costs, ouch.

ServentOfReason

04/23

P&G's margin squeeze is real, but their cash flow game is strong. Dividends and buybacks show they're playing the long game.

JRshoe1997

04/23

Beauty segment messy, but SK-II saves the day.

NoBicDeal

04/23

P&G's margin squeeze feels like a tightrope walk. Can they pivot fast enough or are we looking at a slow bleed?

abc123icantpee

04/23

@NoBicDeal Margin squeeze is real. P&G needs to adapt fast or risk bleeding profits.

BrianNice23

04/23

Holding $PG for divs, not selling anytime soon.

Jimmorz

04/23

Holding $PG for the divs and stability. Not selling on this dip. Long-term portfolio play in turbulent markets.

Fit-Case1093

04/23

@Jimmorz How long you been holding $PG? You think it'll bounce back soon or just ride the divs?

pregizex

04/23

Gross margin dip worries me more than forex.

zack1567

04/23

@pregizex Forex might hurt, but margin's key.

007ggman

04/23

OMG!TSLA demonstrated textbook-perfect bottom and peak confirmation signals via Peak Seeker framework,with subsequent price movements validating 83.6% predictive accuracy

Ilabaca1

3 hour ago

OMG!I successfully capitalized on the BTC stock's bearish trend, generating $114!

titavasfk

05/04

"Solid analysis, but this stock's 'steal' status is like finding a 'good deal' on a used car—might end up with more problems than you bargained for. Investors, buckle up for a bumpy ride. Still, if you're into dental stocks and have a thing for slow turnarounds, this might just be your thing. Or maybe not. Who knows?

getintocollegern

05/04

OMG!NVST demonstrated textbook-perfect bottom and peak confirmation signals via Peak Seeker framework,with subsequent price movements validating 83.6% predictive accuracy

ExeusV

05/04

@getintocollegern What other stocks showed similar patterns?

CoinbaseCorner

05/16

Holy!The 861075 stock generated the signal, from which I have benefited significantly!

anti-faxerr

05/17

@CoinbaseCorner I had a small position in 861075, sold too early. Regret not holding longer.

TheOSU87

05/17

@CoinbaseCorner How long you held the 861075 stock? Any tips on when to sell?

NoAd7400

05/16

Damn!!The 861196 stock generated the signal, from which I have benefited significantly!

Summerdaysengineer

05/16

Wow!The HSBC stock was in a clear trend, and I made $373 from it!

khasan14

05/15

Holy!the block option data in NVST stock saved me much money!

arnhuld

05/15

@khasan14 How long you been holding NVST? Any predictions on where it's headed?

NoBicDeal

05/15

@khasan14 I had NVST, sold too early man... regret not holding when the Hitachi deal dropped.

bryansq2nt

05/12

Damn!!I successfully capitalized on the 861093 stock's bearish trend, generating $223!

James___G

04/27

VIX dipping below 31? Might be time to adjust some puts and calls. Anyone else feeling the equity strength vibe?

LankyConsideration86

04/27

@James___G What’s your take on holding long with the VIX low? Ever seen it end well?

BeefMasters1

04/27

Tom Lee's indicators got me thinking 🤔, but I'm not jumping ship yet. Still holding $AAPL for the long haul.

chriscontwaz

04/27

@BeefMasters1 Still holding $AAPL? Curious how long you're planning to keep it.

stoked_7

04/27

High yield spreads narrowing—risk appetite is back, baby! 🌮🔥 Time to grab some high-risk, high-reward plays.

Janq55

04/27

@stoked_7 What’s your time horizon for holding these high-risk plays? Are you looking at short-term trades or holding long-term?

ghostboo77

04/27

I'm all in for this potential bull run, but keeping a close watch on those recession risks.

moh1111

04/27

@ghostboo77 What's your take on credit spreads?

crentony

04/27

Tom Lee's indicators got me bullish, but I'm hedging with $TSLA puts. Gotta stay sharp in this market.

joethemaker22

04/27

Zweig breadth thrust is like a bull whisperer. When it triggers, better buckle up for a ride 🚀

2008UniGrad

04/27

@joethemaker22 Think it's time to load up?

BeeBaBoop

04/27

Tom Lee's indicators look bullish, but volatility's a wildcard.

Repa24

04/27

90% stock rally days? That's some serious market mojo.

bobpasaelrato

04/27

Credit spreads tightening, recession risk cooling off? 🤔

Advanced_Error_9312

04/27

@bobpasaelrato Yeah, tightening spreads can signal strength.

RubiksPoint

04/27

@bobpasaelrato Sure, credit spreads can be a good indicator.

CurlyDarkrai

04/27

VIX dip feels like equities are gearing up.

Charming_Raccoon4361

04/27

Holding $AAPL long-term, market vibes don't faze me.

dritu_

04/27

@Charming_Raccoon4361 I'm holding $AAPL too, but I'm eyeing $MSFT for some diversification.

fatuousfatwa

04/27

@Charming_Raccoon4361 How long you been holding $AAPL? Think it's still a good time to buy in?

bmrhampton

04/27

VIX dipping below 31? That's like a green light for equities. Time to rev up those engines.

MacaroniWithDaCheese

04/27

90% of S&P stocks rallying? That's some serious mojo. Market's trying to tell us something.

Tryingtodoit23

04/27

@MacaroniWithDaCheese What's your take on the VIX dip?

schokonickchen

04/27

@MacaroniWithDaCheese Totally agree, bullish vibes.

JxxxnO

04/27

Damn!!The BABA stock triggered a trading signal, resulting in substantial gains for me.

LonelyAndroid11942

05/15

Wow!The 861075 stock triggered a trading signal, resulting in substantial gains for me.

Nyx87

05/16

Damn!!HCTI demonstrated textbook-perfect bottom and peak confirmation signals via Peak Seeker framework,with subsequent price movements validating 83.6% predictive accuracy

TheOSU87

04/30

Infineon collab could shake up power testing game.

pit_the_prepper

04/30

TERadyne just dropped a Financial FLEX Tape, slayin' the market like they're runnin' the streets of silicon valley. 14% growth? Nah, they're just warmin' up. The stock's been a bit of a rollercoaster, but after this report, it's clear they're not just testin' semiconductors—they're testin' the boundaries of profitability. CEO Greg Smith's got the vision, and the company's movin' like a well-oiled machine, even if the trade policy clouds are hoverin' like a bad omen. With acquisitions and buybacks on deck, Teradyne's not just playin' the long game—they're writin' the script.

Medical-Truth-3248

04/30

Infineon partnership is a win. Advancing power testing techs together is smart collaboration.

UpbeatBase7935

04/30

$TER's EPS growth is solid. Strong fundamentals. But watch out for trade policy hiccups.

Luka77GOATic

04/30

CEO sounds bullish, but trade policy uncertainties might trip us up. Holding TER long-term feels right, though.

ConstructionOk6948

04/30

Acquiring Quantifi Photonics is a smart move. Expanding capabilities in semiconductor testing is a game-changer.

OG_Time_To_Kill

04/30

Trade policy whack-a-mole, but AI demand strong.

AIDsIsTheName

04/30

@OG_Time_To_Kill Do you think AI will save TER?

TraditionalAgent8593

04/30

@OG_Time_To_Kill Agreed, AI's the play.

LarryKingsGhost

04/30

$TER undervalued, bulls waiting for dip entry.

BeeBaBoop

04/30

Robotics + semis = winning combo, who's in?

Stevitop

04/30

CEO Smith sees AI, electrification, and verticalization as long-term drivers. Bullish on $TER's positioning.

Yoconn

04/30

@Stevitop What do you think about their guidance?

magenta_placenta

04/30

Holding TER long-term, strong fundamentals, weak hands panic.

Pushover112233

04/30

TERadyne's EPS pump is 🚀 solid growth

NoMycologist2500

04/30

@Pushover112233 EPS pump? More like rocket fuel.

caollero

04/30

@Pushover112233 Solid growth, but watch the guidance.

Rhysthomas2312

04/30

Damn!!the block option data in TER stock saved me much money!

EL-Vinci93

05/05

$243M heist? More like $243M lesson. Learn from others' mistakes.

bananaboi4

05/05

@EL-Vinci93 Yessir

GrapeJuicex

05/05

Real-world consequences for cybercrime? About time they caught up.

Brilliant_User_7673

05/05

Lam's lifestyle was flash but short-lived. Arrogance and greed got him caught. Watch your FOMO, y'all.

911Sheesh

05/05

Crypto's like a sharp knife—cuts both ways. Use it for good or evil. The choice is yours, just like $TSLA or $AAPL.

Blackhole1123

05/05

The Com crew went from Minecraft to million-dollar mistakes. Don't underestimate the power of a little due diligence.

Running4eva

05/05

Who else remembers when crypto was all about freedom from banks? Now it's like the wild west, minus the honor.

LufaMaster

05/05

Crypto world got its dark side, y'all. Anonymity can be a curse. 🚨Beware of the wolves in sheep's clothing.🚨

Hungry-Bee-8340

05/05

Parental advisory: Keep an eye on your kids' online moves. Crypto scammers prey on the innocent, literally.

Plane-Salamander2580

05/05

These youngbloods thought crypto riches meant no risks. Turns out, real life got nothing on real-world consequences.

bottlethecat

05/05

@Plane-Salamander2580 Guess they didn't YOLO hard enough to see the real-world dip.

aiolyfe

05/05

Crypto world got real dirty, folks. Watch out!

Empty_Somewhere_2135

05/05

Veer's parents got caught in the crossfire. Talk about your worst nightmares playing out in the suburbs.

Sweet-Block5118

05/05

These kids had no idea how fast the fall could be. 🤦♂️

stydolph

05/05

Who would've thought crypto's dark side could lead to real-life kidnappings? This wild ride shows how cybercrime knows no borders.

Gurkaz_

05/05

ZachXBT and his team are real-life crypto heroes. They prove that good can triumph over evil, even in the dark web.

Accomplished-Bill-45

05/05

I'm in crypto for gains, not kidnappings. Smart moves only.

FluidMarzipan1444

04/23

Wow!The BTC stock triggered a trading signal, resulting in substantial gains for me.

Advanced-Ad-9186

05/16

OMG!the Peak Seeker algorithm successfully identified both trough and apex inflection points in DEFT equity's price action, while my execution latency resulted in material opportunity cost.

Surfin_Birb_09

05/16

@Advanced-Ad-9186 I had DEFT, sold early. Regretting now. Missed that Nasdaq boost. FOMO is real.

enthralled123

05/16

@Advanced-Ad-9186 How long you holding DEFT? Curious if you're in for the long haul or just swing trading.

CaseEnvironmental824

05/14

Damn!!the block option data in XLO stock saved me much money!

Emeraldmug

05/14

@CaseEnvironmental824 How long you holding XLO? Any predictions on where it's headed?

James___G

04/30

CouchBASE's cash-heavy balance sheet could attract suitors. But will Irenic's pressure lead to a sale or just smoke and mirrors?

Liteboyy

04/30

Holding $CBASE long-term, but watching Irenic's moves closely. If restructuring happens, could see nice upside. 🤔

dopollak

04/30

@Liteboyy How long you been holding $CBASE? Curious if you've seen any major moves so far.

LackToesToddlerAnts

04/30

Activists often push for sales when valuations don't match fundamentals. Could $CBASE be headed for a merger or SPAC deal?

LackToesToddlerAnts

04/30

Irenic's play: value unlock or chaos? CouchBASE's cash-heavy balance sheet could be a golden ticket or a ticking time bomb.

OkFirefighter1110

04/30

@LackToesToddlerAnts Irenic's move could be value creation, but there's risk of shareholder friction.

joaopedrosp

04/30

SEC revoking Irenic's registration might raise flags, but it shouldn't block their activism in the software sector.

hellogreenbean

04/30

@joaopedrosp True, SEC stuff separate issue.

aiolyfe

04/30

Irenic's play here is classic: squeeze value from a lagging company. But regulatory clouds could trip them up.

BunchProfessional680

04/30

If $CBASE gets scooped, MongoDB or AWS could be the suitors. But valuations might get ugly. 🤑

extrememinimalist

04/30

@BunchProfessional680 Do you think MDG could afford CBASE?

Dvorak_Pharmacology

04/30

MongoDB or AWS could be interested, but valuations might be sticky. Who's ready for a bidding war? 🤑

psycho_psymantics

04/30

CouchBASE's tech is solid, but leadership needs to prove it translates to profit. Activist pressure could shake things up.

Ok-Afternoon-2113

04/30

Irenic's move could shake things up big time.

Sotarif

04/30

🤑 Potential sale could mean juicy returns for holders

JoinMySpaceship

04/30

40% dip in 2 yrs? Ouch. But, undervalued gems can be goldmines if activists dig deep enough. 🌟

Mean_Dip_7001

04/30

Holding $CBASE long-term? Might ride the activist wave, but watching those quarterly earnings like a hawk.

Tiger_bomb_241

04/30

18.5% stake is serious clout, watch what's next.

bottomline77

04/30

@Tiger_bomb_241 What's next for CBASE?

drgreenthumb12372

04/30

@Tiger_bomb_241 Totally, Irenic's got the power.

Janq55

04/30

Activist pressure might force CouchBASE to rethink strategy.

ZhangtheGreat

04/19

Holy!Those $INFY whale-sized options block were screaming danger! � Closed positions just in time profiting more than $224

Puzzleheaded-Mood544

04/19

@ZhangtheGreat How long were you holding those $INFY options? Curious about your strategy.

Ok_Statement1056

4 hour ago

Damn!!Those $JPEM whale-sized options block were screaming danger! � Closed positions just in time profiting more than $405

Opening-Finger-4294

04/24

Brazil's soy boom feels like a bubble. Tariffs can flip in an election cycle. Diversify, y'all.

urfaselol

04/24

Buying $BG for long-term agribusiness play. Solid move?

EightBitMemory

04/24

Soy premiums soaring, processors sweating. Who's hedging?

DrixGod

04/24

Brazil's soy boom 🚀 but margin squeeze is real

CoinbaseCorner

04/24

@DrixGod Margin squeeze is real, but Brazil's soy boom could pump if China keeps buying.

ttforum

04/24

Soybeans are the new oil in this geopolitical game of thrones. Who's ready for a wild ride?

Comfortable_Corner80

04/24

I'm holding some $BG, but hedging with soy futures. Agribusiness is risky, but potential's huge.

skarupp

04/24

Record exports, but can Brazil sustain this hype?

No-Sandwich-5467

04/24

China overpaying? Market correction or just geopolitics?

Majestic-Weekend-484

04/24

Holy!the block option data in AAPL stock saved me much money!

k_ristovski

05/05

$RUB strength got me thinking about upping my energy sector bets. Anyone else riding this wave?

serkankster

05/05

Geopolitical tensions easing? Maybe time to reevaluate those sanction plays. Could be a game-changer.

bigbear0083

05/05

Energy exports are the real MVP here.

SmallVegetable4365

05/05

Rate hikes worked. Bank of Russia flexing.

Royal-Vegetable-407

05/05

@SmallVegetable4365 Rate hikes worked? Sure, but inflation's still high.

Wonderful_Touch5652

05/05

Ruble's rise feels like a moonshot 🚀, but keep an eye on those inflation vibes.

LarryKingsGhost

05/05

Carry trades sound tempting, but watch those rates.

ReindeerApart5536

05/05

Holding some $TSLA to balance my ruble play.

Holiday_Context5033

05/05

Ruble's rise feels like a phoenix from the ashes. Not bad for a currency that faced nuclear-level volatility recently.

WallstS

05/05

@Holiday_Context5033 👌

Interesting_Mix_3535

05/05

Ruble's gains = sweet gains. Load up cautiously.

Derikkopp

05/05

@Interesting_Mix_3535 How long you planning to hold ruble investments? Any specific stocks in mind?

elpapadoctor

05/05

Central bank moves were clutch. Foreign reserves are no joke, over $600 billion? That's some serious cushioning.

anonymus431

05/05

@elpapadoctor True, those reserves are hefty.

MamaFen

05/05

OMG!TSLA demonstrated textbook-perfect bottom and peak confirmation signals via Peak Seeker framework,with subsequent price movements validating 83.6% predictive accuracy

BranchDiligent8874

03/04

Holding $ADID for long haul, bullish on digital push.

CrimsonBrit

03/04

Adidas going green, but will it boost the bottom line?

joaopedrosp

03/04

Consumer experience overhaul? Better be on point, competition's fierce.

stoked_7

03/04

Investors be like 🤔: Will Adidas' sustainability push be a game-changer or a money-pit? Only time will tell.

Direct_Name_2996

03/04

$ADID needs to tread carefully, challenges are real 🤔.

Ogulcan0815

03/04

2025 is gonna be a wild ride for $ADIDAS. They're betting big on digital and sustainability. Are they kicking it or tripping?

SnowShoe86

03/04

@Ogulcan0815 Think they'll hit it or miss?

MyNi_Redux

03/04

@Ogulcan0815 Agreed, risky play.

Roneffect

03/04

Yeezy boost was clutch, but sustainability is the new MVP.

solidpaddy74

03/04

@Roneffect Ok bro

khasan14

05/15

Holy!the block option data in NVST stock saved me much money!

arnhuld

05/15

@khasan14 How long you been holding NVST? Any predictions on where it's headed?

NoBicDeal

05/15

@khasan14 I had NVST, sold too early man... regret not holding when the Hitachi deal dropped.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.