SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Meritage Homes Corp. (MTH) on Tuesday reported third-quarter net income of $196 million.
On a per-share basis, the Scottsdale, Arizona-based company said it had net income of $5.34.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.05 per share.
The homebuilder posted revenue of $1.6 billion in the period. Its adjusted revenue was $1.59 billion, also topping Street forecasts. Ten analysts surveyed by Zacks expected $1.58 billion.
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