Meritage Homes Corp. Reveals Decline In Q4 Profit

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

The company said its bottom line came in at $35.55 million, or $0.87 per share. This was down from $51.81 million, or $1.22 per share, in last year's fourth quarter.

Analysts had expected the company to earn $1.24 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 7.5% to $946.43 million. This was up from $880.71 million last year.

Meritage Homes Corp. earnings at a glance:

-Earnings (Q4): $35.55 Mln. vs. $51.81 Mln. last year. -Earnings Decline (Y-o-Y): -31.4% -EPS (Q4): $0.87 vs. $1.22 last year. -EPS Decline (Y-o-Y): -28.7% -Analysts Estimate: $1.24 -Revenue (Q4): $946.43 Mln vs. $880.71 Mln last year. -Revenue Change (Y-o-Y): 7.5%