Meritage Homes reports second quarter 2018 diluted EPS of $1.31, up 34% over prior year; 13% increase in pre-tax earnings with 9% growth in home closing revenue and 60 bps increase in home closing gro

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Go back to Meritage Homes reports second quarter 2018 diluted EPS of $1.31, up 34% over prior year; 13% increase in pre-tax earnings with 9% growth in home closing revenue and 60 bps increase in home closing gro

Meritage Homes Corporation (MTH) Tops Q2 EPS by 20c, Revenues Beat

July 25, 2018 4:36 PM EDT

Meritage Homes Corporation (NYSE: MTH) reported Q2 EPS of $1.31, $0.20 better than the analyst estimate of $1.11. Revenue for the quarter came in at $877.5 million versus the consensus estimate of $824.93 million.

SECOND QUARTER RESULTS

Net earnings of $53.8 million ($1.31 per diluted share) for the second quarter of 2018, increased 29% and 34%, respectively, compared to $41.6 million ($0.98 per diluted share) for the second quarter of 2017. Earnings before income taxes were up 13% year-over-year, primarily due to increases in home closing revenue and home closing gross margin.Home closing revenue increased 9% with a 12% increase in closing volume, partially... More