Meritage Homes Corp. Announces Drop In Q2 Profit, But Beats Estimates

(RTTNews) - Meritage Homes Corp. (MTH) revealed a profit for second quarter that Drops, from the same period last year but beat the Street estimates.

The company's earnings totaled $146.88 million, or $2.04 per share. This compares with $231.55 million, or $3.15 per share, last year.

Analysts on average had expected the company to earn $1.97 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.6% to $1.615 billion from $1.693 billion last year.

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

-Earnings: $146.88 Mln. vs. $231.55 Mln. last year. -EPS: $2.04 vs. $3.15 last year. -Revenue: $1.615 Bln vs. $1.693 Bln last year.