Meritage Homes (MTH) reported Q1 earnings late Wednesday of $1.69 per diluted share, down from $2.53 a year earlier.

Analysts polled by FactSet expected $1.69.

Total closing revenue in the quarter ended March 31 was $1.36 billion, down from $1.47 billion a year earlier.

Analysts surveyed by FactSet expected revenue of $1.34 billion.

For 2025, the company reiterated its guidance for home closing revenue of $6.60 billion to $6.90 billion. Analysts polled by FactSet expect revenue of $6.46 billion.

Shares of Meritage Homes were up 1.2% in recent after-hours activity.