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Meritage: 2Q Earnings Snapshot

July 24, 2019

SCOTTSDALE, Ariz. (AP) _ Meritage Homes Corp. (MTH) on Wednesday reported second-quarter earnings of $50.8 million.

The Scottsdale, Arizona-based company said it had profit of $1.31 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The homebuilder posted revenue of $864.6 million in the period. Its adjusted revenue was $863.1 million, also topping Street forecasts. Ten analysts surveyed by Zacks expected $805.5 million.

Meritage expects full-year earnings to be $5.20 to $5.50 per share, with revenue in the range of $3.4 billion to $3.6 billion.

Meritage shares have risen 48% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $54.38, an increase of 27% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTH at https://www.zacks.com/ap/MTH

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