Meritage Homes Corp. Profit Rises In Q3, Beats estimates

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

The company's bottom line came in at $262.5 million, or $7.10 per share. This compares with $200.8 million, or $5.25 per share, in last year's third quarter.

Analysts on average had expected the company to earn $6.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.4% to $1.58 billion from $1.25 billion last year.

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

-Earnings (Q3): $262.5 Mln. vs. $200.8 Mln. last year. -EPS (Q3): $7.10 vs. $5.25 last year. -Analyst Estimate: $6.45 -Revenue (Q3): $1.58 Bln vs. $1.25 Bln last year.