Toll Brothers Posts Strong Q3 Results (TOL)

Luxury home builder, Toll Brothers Inc. (NYSE:TOL)  reported stronger-than-expected fiscal third-quarter earnings as its revenue for the period leaped  41 % amid strongest demand  across all geographical regions in preceding five years.

TOL has now upwardly revised its outlook on full-year home deliveries to 3000-3200 homes, up from earlier estimations of 2700-3200 homes.

Following the earnings announcement, TOL stock rose sharply.

For the quarter ended July 31, Toll Brothers’ profit stood at $61.6 million, or 36 cents a share, up from $42.1 million or 25 cents a share, in the year earlier quarter.

Revenue for the period skyrocketed 41% to $554.3 million.

Analysts polled by Thomson Reuters had forecasted earnings of 18 cents a share on revenue of $510 million.

The company said that revenue across all geographical regions soared for the quarter.

Revenue from the Northern segment climbed 66%, in the West it rose by 75%, Mid-Atlantic region saw 5.3% growth while in the South it leaped 41%.

After omitting interest expenses and other onetime expenses such as write downs, company’s Gross margin, rose 24.4%, compared with 23.4% in the corresponding period of the last year.

During the quarter, Toll Brothers delivered 963 homes, a 39% growth over the year earlier quarter.

 

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