Meritage Homes Corporation (MTH) Tops Q2 EPS by 95c, Guidance Beats

Meritage Homes Corporation (NYSE: MTH) reported Q2 EPS of $2.38, $0.95 better than the analyst estimate of $1.43. Revenue for the quarter came in at $1.03 million versus the consensus estimate of $888.61 million.

GUIDANCE:

Meritage Homes Corporation sees FY2020 EPS of $8.75-$9.25, versus the consensus of $6.14. Meritage Homes Corporation sees FY2020 revenue of $4-4.3 billion, versus the consensus of $3.52 billion.

Meritage Homes Corporation sees Q3 2020 EPS of $2.15-$2.35, versus the consensus of $1.26. Meritage Homes Corporation sees Q3 2020 revenue of $1-1.1 billion, versus the consensus of $827 billion.

• “Based on our current forecast, we believe we can generate between $4.0-4.3 billion in home closing revenue for the year, including $1.0-1.1 billion for the third quarter, with home closing gross margins around 21% for the third quarter and full year. We estimate that will translate to approximately $8.75-9.25 of diluted earnings per share for the full year, including approximately $2.15-2.35 for the third quarter.”

For earnings history and earnings-related data on Meritage Homes Corporation (MTH) click here.

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