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Just hours after D.R. Horton posted its analyst-thumping sales and earnings results for its fiscal second quarter of 2020 yesterday, smaller homebuilder Meritage Homes(NYSE: MTH) had some good news of its own to share.
Reporting after close of trading Tuesday, Meritage said its fiscal first-quarter earnings (the two companies operate on different calendars) were far better than the $1.28 per share analysts had predicted. In fact, earning $1.83 per share on sales of $890.4 million, Meritage beat earnings by 43%, and beat on sales as well.
Meritage shares are up 11% as of 3:35 p.m. EDT in response.