SCOTTSDALE, Ariz. (AP) 鈥� SCOTTSDALE, Ariz. (AP) 鈥� Meritage Homes Corp. (MTH) on Wednesday reported second-quarter net income of $90.6 million.
The Scottsdale, Arizona-based company said it had net income of $1.37 per share. Earnings, adjusted for one-time gains and costs, were $1.42 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The homebuilder posted revenue of $1.41 billion in the period. Its adjusted revenue was $1.4 billion, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $1.43 billion.
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