Meritage Homes Corp. Bottom Line Falls In Q3, But Beats Estimates

(RTTNews) - Meritage Homes Corp. (MTH) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $195.97 million, or $5.34 per share. This compares with $221.76 million, or $5.98 per share, in last year's third quarter.

Analysts on average had expected the company to earn $4.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.5% to $1.588 billion from $1.613 billion last year.

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

-Earnings (Q3): $195.97 Mln. vs. $221.76 Mln. last year. -EPS (Q3): $5.34 vs. $5.98 last year. -Revenue (Q3): $1.588 Bln vs. $1.613 Bln last year.

-Guidance: Next quarter EPS guidance: $4.10-$4.60