Meritage Homes Corp. Bottom Line Rises In Q2, Beats Estimates

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

The company's earnings totaled $231.6 million, or $6.31 per share. This compares with $186.8 million, or $5.02 per share, in last year's second quarter.

Analysts on average had expected the company to earn $5.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.6% to $1.69 billion from $1.57 billion last year.

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

-Earnings (Q2): $231.6 Mln. vs. $186.8 Mln. last year. -EPS (Q2): $6.31 vs. $5.02 last year. -Revenue (Q2): $1.69 Bln vs. $1.57 Bln last year.