Meritage Homes Corp. Announces Rise In Q2 Profit

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

The company's earnings totaled $167.4 million, or $4.36 per share. This compares with $90.7 million, or $2.38 per share, in last year's second quarter.

Analysts had expected the company to earn $3.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.3% to $1.28 billion from $1.03 billion last year.

Meritage Homes Corp. earnings at a glance:

-Earnings (Q2): $167.4 Mln. vs. $90.7 Mln. last year. -EPS (Q2): $4.36 vs. $2.38 last year. -Analysts Estimate: $3.43 -Revenue (Q2): $1.28 Bln vs. $1.03 Bln last year.