Meritage Homes Corp. Q4 Income Rises, Beats estimates

(RTTNews) - Meritage Homes Corp. (MTH) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $262.4 million, or $7.09 per share. This compares with $237.5 million, or $6.25 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $7.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.0% to $1.98 billion from $1.50 billion last year.

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

-Earnings (Q4): $262.4 Mln. vs. $237.5 Mln. last year. -EPS (Q4): $7.09 vs. $6.25 last year. -Analyst Estimate: $7.00 -Revenue (Q4): $1.98 Bln vs. $1.50 Bln last year.