Meritage Homes Corp. Profit Rises In Q1, Beats estimates

(RTTNews) - Meritage Homes Corp. (MTH) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $186.0 million, or $5.06 per share. This compares with $131.3 million, or $3.54 per share, in last year's first quarter.

Analysts on average had expected the company to earn $3.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.8% to $1.47 billion from $1.28 billion last year.

Meritage Homes Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $186.0 Mln. vs. $131.3 Mln. last year. -EPS (Q1): $5.06 vs. $3.54 last year. -Revenue (Q1): $1.47 Bln vs. $1.28 Bln last year.