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Meritage: Q4 Earnings Snapshot

SCOTTSDALE, Ariz. (AP) — SCOTTSDALE, Ariz. (AP) — Meritage Homes Corp. (MTH) on Wednesday reported fourth-quarter net income of $84 million.

On a per-share basis, the Scottsdale, Arizona-based company said it had net income of $1.20. Earnings, adjusted for non-recurring costs, came to $1.67 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.

The homebuilder posted revenue of $1.44 billion in the period. Its adjusted revenue was $1.43 billion, which fell short of Street forecasts. Ten analysts surveyed by Zacks expected $1.51 billion.

For the year, the company reported profit of $453 million, or $6.35 per share. Revenue was reported as $5.82 billion.

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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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