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Meritage: 3Q Earnings Snapshot

SCOTTSDALE, Ariz. (AP) _ Meritage Homes Corp. (MTH) on Tuesday reported third-quarter net income of $69.8 million.

The Scottsdale, Arizona-based company said it had profit of $1.79 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The homebuilder posted revenue of $940.9 million in the period. Its adjusted revenue was $939.2 million, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $917.8 million.

Meritage shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $75.04, more than doubling in the last 12 months.


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