For the quarter ended December 2023, Meritage Homes (MTH) reported revenue of $1.65 billion, down 17% over the same period last year. EPS came in at $5.38, compared to $7.09 in the year-ago quarter.

The reported revenue represents a surprise of +8.57% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $5.18, the EPS surprise was +3.86%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Meritage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Homes ordered - Total: 2,892 compared to the 3,041 average estimate based on 10 analysts.

• Order Backlog - Total: 2,549 versus the 10-analyst average estimate of 3,034.

• Homes closed - Total: 3,951 versus 3,608 estimated by 10 analysts on average.

• Order Backlog Value - Total: $1.09 billion compared to the $1.31 billion average estimate based on seven analysts.

• Active Communities - Ending - Total: 270 compared to the 281 average estimate based on seven analysts.

• Homes Ordered Value - Total: $1.20 billion versus the seven-analyst average estimate of $1.29 billion.

• Homes Ordered Value - East Region: $432.38 million compared to the $465.80 million average estimate based on four analysts.

• Home Closed Value - East Region: $613.23 million compared to the $533.92 million average estimate based on four analysts.

• Revenue- Total closing revenue (Homebuilding): $1.65 billion versus the 10-analyst average estimate of $1.52 billion. The reported number represents a year-over-year change of -17%.

• Revenue- Home closing: $1.64 billion versus $1.52 billion estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -17.3% change.

• Revenue- Land closing: $11.68 million compared to the $6.36 million average estimate based on nine analysts. The reported number represents a change of +59.4% year over year.

• Revenue- Financial Services: $7.20 million versus the nine-analyst average estimate of $6.16 million. The reported number represents a year-over-year change of -2.1%.

View all Key Company Metrics for Meritage here>>>

Shares of Meritage have returned -1.4% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.