Luxury homebuilder Toll Brothers posted stronger-than-expected fiscal third-quarter results, helped by resilient demand from affluent buyers. Earnings per share rose to $3.73, topping the $3.60 average analyst estimate, while revenue climbed 8% from a year earlier to $2.94 billion, also above projections. The company delivered 2,959 homes during the quarter, a 5% increase that reached the upper end of management’s guidance. Backlog value slipped 10% to $6.38 billion, reflecting broader affordability pressures in the U.S. housing market, but Chief Executive Officer Douglas Yearley said Toll’s luxury focus continues to attract “a more affluent customer base.” Looking ahead, Toll Brothers projected fourth-quarter deliveries of about 3,350 units, implying further growth despite higher mortgage rates and economic uncertainty. Shares initially fell as much as 7% in after-hours trading before narrowing the loss to roughly 2% as investors digested the outlook.
The last time that $TOL had a positive earnings reaction (a year ago), they included this positive language in the press release: “Net signed contracts were up year-over-year approximately 11% in both units and dollars, with July being our strongest month in the quarter. We are https://t.co/WLi5HlNwFK
Le constructeur de maisons Toll Brothers dépasse les prévisions de bénéfices grâce à des livraisons pl... https://t.co/fKJl2op0fK
Honestly the $TOL print is pretty positive - shares would probably be higher if not for the run into the print (our primary point in our preview). Here's our full take: https://t.co/zD3JdfFZGR https://t.co/VMEDeuJFrB