Meritage Homes Third Quarter 2012 Numbers
Behind the Numbers:
Meritage had a profitable third quarter that would have been extraordinarily profitable if it had not had to place $8.7 million in reserve in case it loses a lawsuit over a Las Vegas joint venture project called South Edge; the company also logged $417,000 in land impairments. The third quarter was Meritage’s seventh consecutive quarter of year-over-year order increases. The company expects to close between 4,100 and 4,300 homes in 2012.
Meritage’s fiscal year ends December 31.