Meritage Homes Corp. Earnings Retreat 7% In Q3

(RTTNews) - Meritage Homes Corp. (MTH) revealed a profit for third quarter that declined compared to the same period last year.

The company said its bottom line totaled $30.31 million, or $0.73 per share. This was down from $32.58 million, or $0.79 per share, in last year's third quarter.

Analysts had expected the company to earn $0.77 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 20.3% to $669.96 million. This was up from $556.78 million last year.

Meritage Homes Corp. earnings at a glance:

-Earnings (Q3): $30.31 Mln. vs. $32.58 Mln. last year. -Earnings Decline (Y-o-Y): -7.0% -EPS (Q3): $0.73 vs. $0.79 last year. -EPS Decline (Y-o-Y): -7.6% -Analysts Estimate: $0.77 -Revenue (Q3): $669.96 Mln vs. $556.78 Mln last year. -Revenue Change (Y-o-Y): 20.3%