Meritage Homes Corp. Announces 7% Gain In Q4 Profit

(RTTNews) - Meritage Homes Corp. (MTH) reported a profit for its fourth quarter that increased from last year.

The company said its bottom line totaled $52.90 million, or $1.26 per share. This was up from $49.21 million, or $1.19 per share, in last year's fourth quarter.

Analysts had expected the company to earn $1.13 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 11.8% to $781.61 million. This was up from $698.92 million last year.

Meritage Homes Corp. earnings at a glance:

-Earnings (Q4): $52.90 Mln. vs. $49.21 Mln. last year. -Earnings Growth (Y-o-Y): 7.5% -EPS (Q4): $1.26 vs. $1.19 last year. -EPS Growth (Y-o-Y): 5.9% -Analysts Estimate: $1.13 -Revenue (Q4): $781.61 Mln vs. $698.92 Mln last year. -Revenue Change (Y-o-Y): 11.8%