By Catherine Reagor | The Arizona Republic
Scottsdale-based Meritage Homes Corp.’s second-quarter earnings beat analysts’ expectations, although the company’s stock fell with many other homebuilder share prices.
On Wednesday, the home builder reported earning 74 cents a share during this year’s second quarter, a 208 percent jump from the 24 cents a share it reported for the same period in 2012. A consensus report of 13 analysts polled by S&P Capital predicted Meritage would earn 47 cents a share.
During the quarter ended June 30, the homebuilder reported revenue of $436 million, a 55 percent increase from $281 million last year. Mertiage’s earnings climbed 252 percent to $28.1 million, compared with $8 million during the second quarter of 2012.
