Meritage Homes Q3 Profit Falls to $67.78 Million as Revenue Drops 17.5%

Meritage Homes Corp. (MTH) reported third-quarter earnings of $67.78 million, or $1.04 per share, down from $99.30 million, or $1.39 per share, a year earlier, the homebuilder said. Excluding items, adjusted earnings came in at $72.49 million, or $1.11 per share. Revenue for the period fell 17.5% to $1.168 billion from $1.415 billion last year.