Meritage Homes Corp. Q2 Profit Declines, but beats estimates

(RTTNews) - Meritage Homes Corp. (MTH) announced earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $186.8 million, or $5.02 per share. This compares with $250.1 million, or $6.77 per share, in last year's second quarter.

Analysts on average had expected the company to earn $3.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.3% to $1.57 billion from $1.41 billion last year.

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

-Earnings (Q2): $186.8 Mln. vs. $250.1 Mln. last year. -EPS (Q2): $5.02 vs. $6.77 last year. -Analyst Estimates: $3.49 -Revenue (Q2): $1.57 Bln vs. $1.41 Bln last year.