Meritage Homes Corp. Announces 28% Advance In Q1 Earnings

(RTTNews) - Meritage Homes Corp. (MTH) reported a profit for its first quarter that gained ground compared to the same period last year.

The company said its bottom line came in at $20.97 million, or $0.50 per share. This was higher than $16.40 million, or $0.40 per share, in last year's first quarter.

Analysts had expected the company to earn $0.44 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 15.2% to $597.77 million. This was up from $518.71 million last year.

Meritage Homes Corp. earnings at a glance:

-Earnings (Q1): $20.97 Mln. vs. $16.40 Mln. last year. -Earnings Growth (Y-o-Y): 27.9% -EPS (Q1): $0.50 vs. $0.40 last year. -EPS Growth (Y-o-Y): 25.0% -Analysts Estimate: $0.44 -Revenue (Q1): $597.77 Mln vs. $518.71 Mln last year. -Revenue Change (Y-o-Y): 15.2%