The profits of Meritage Homes Corp. increase in the third quarter, according to Beats estimates

(RTTNews) – Meritage Homes Corp. (MTH) reported earnings for its third quarter that rose from the same period last year and beat Street’s estimates.

The company’s net income was $262.5 million, or $7.10 per share. That compares with $200.8 million, or $5.25 per share, in the third quarter of last year.

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

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

Meritage Homes Corp. Earnings Snapshot (GAAP):

– Earnings (Q3): $262.5 million. against $200.8 million. Last year. -EPS (Q3): $7.10 versus $5.25 last year. – Analyst estimate: $6.45 – Revenue (Q3): $1.58 billion vs. $1.25 billion last year.

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