06:02 PM EDT, 04/24/2024 (MT Newswires) -- Meritage Homes ( MTH ) reported Q1 earnings late Wednesday of $5.06 per diluted share, up from $3.54 a year earlier.

Analysts polled by Capital IQ expected $3.54.

Total closing revenue in the quarter ended March 31 rose to $1.47 billion from $1.28 billion a year earlier.

Four analysts surveyed by Capital IQ expected revenue of $1.28 billion, if comparable.

The company expects 2024 earnings of $19.20 to $20.70 per diluted share on home closing revenue of $6 billion to $6.2 billion. Analysts polled by Capital IQ expect EPS of $17.84.

Meritage Homes ( MTH ) shares jumped 16% in after-hours activity.

Price: 180.00, Change: +25.31, Percent Change: +16.36