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Toll Brothers Inc. (TOL)

- NYSE
  • Dec. 12, 2014, 10:56 AM
    | 2 Comments
  • Dec. 10, 2014, 3:53 PM
    • "Why 2014 was a pause and flat to 2013 and not improving has been a bit puzzling," says Toll Brothers (TOL -7.6%) management on the earnings call.
    • Asked about the impact of tumbling energy prices on markets like Dallas and Houston, management says the company's exposure there is small, with Houston accounting for 3.7% of signed contracts.
    • Overall, Toll expects the housing recovery to be "bumpy," and that demand will truly return when buyers no longer fear price drops.
    • Previously: Toll Brothers slips on FQ4 miss (Dec. 10, 2014)
    • It's a different story (at least for the stock price) with Hovanian (HOV +5.9%) after its earning report today. Management: "It's an understatement to say that the past 12 months have been choppy ... Given the gains we've seen in employment, we would have expected stronger home sales."
    • Previously: Hovnanian pops as fiscal 2015 starts off strong (Dec. 10, 2014)
    • Other builders today: Ryland (RYL -5.1%), Lennar (LEN -5.3%), Beazer (BZH -5.1%), Pulte (PHM -3.5%), KB Home (KBH -5.1%).
    • ETFs: ITB -3.4%, XHB -2.5%
    | 3 Comments
  • Dec. 10, 2014, 8:33 AM
    • FQ4 net income takes a hit from $10.8M of inventory impairments, and a $32M warranty and litigation charge over projected stucco-related repairs at older homes in certain PA and DE communities.
    • FQ4 home building deliveries (1,807 units) up 29% in dollars and 22% in units from a year ago. ASP of $747K vs. $703K.
    • Net signed contracts of $970.8M and 1,282 units up 16% and 10% Y/Y, respectively. ASP of $757K vs. $721K.
    • Backlog of $2.72B and 3,679 units up 3% in dollars and flat in units from a year ago.
    • Gross margin, excluding interest and inventory write-downs of 25.5% vs. 25.4% one year ago.
    • Conference call at 2 ET
    • Previously: Toll Brothers misses by $0.02, beats on revenue
    • TOL -0.8% premarket
    | Comment!
  • Dec. 10, 2014, 6:00 AM
    • Toll Brothers (NYSE:TOL): FQ4 EPS of $0.71 misses by $0.02.
    • Revenue of $1.35B (+29.8% Y/Y) beats by $10M.
    • Press Release
    | Comment!
  • Dec. 9, 2014, 5:30 PM
  • Nov. 10, 2014, 7:55 AM
    • The early results are being released in conjunction with Toll's (NYSE:TOL) presentation at a conference to take place on Thursday. The full report is set for December 10.
    • Fiscal Q4 revenue of $1.35B and 1,087 units up 29% in dollar terms and 22% in unit terms Y/Y. ASP of $747K vs. $703K a year ago.
    • Net signed contracts of $970.2M and 1,282 units up 16% in dollar terms and 10% in units Y/Y. ASP of net contracts of $757K vs. $721K a year ago. On a per-community basis, net signed contracts of 5.01 compares to 5.17 a year ago.
    • Backlog of $2.72B and 3,679 units up 3% in dollars and flat in units Y/Y.
    • Source: Press release
    • Shares +1.5% premarket
    | Comment!
  • Sep. 17, 2014, 10:04 AM
    • Lennar's sizable earnings beat included a 23% gain in new orders - a strong result given the slowdown seen from some other builders.
    • Previously: Lennar up 4.3% after reporting big quarter
    • ETFs: ITB +2.6%, XHB +1.8%
    • Individual players: Ryland (RYL +4.8%) Pulte (PHM +3.8%), Toll Bros. (TOL +3.2%), D.R. Horton (DHI +4%), Hovnanian (HOV +5.8%), KB Home (KBH +4.4%), Comstock (CHCI +4.2%), Standard Pacific (SPF +3.8%).
    | 2 Comments
  • Sep. 3, 2014, 10:08 AM
    • "We have seen some lessening of pricing power in the past year," says Toll Brothers (TOL -2.6%) chief Douglas Yearley, quickly adding the company does not yet see the need to boost incentives to spur sales.
    • Fiscal 2014 guidance: Deliveries now expected at 5.3K-5.5K homes from 5.1K-5.85K previously (midpoint drops to 5.4K from 5.475K); ASP of deliveries of $710K-$725K from $690-$720K.
    • Gross margin is expected to be 185-200 bps higher than 2013 vs. previous guidance of 175-200 bps improvement.
    • Expected selling communities is now at 255-275 vs. 250-290 previously.
    • Previously: Toll Brothers beats by $0.08, beats on revenue
    | Comment!
  • Sep. 3, 2014, 7:11 AM
    • Net income jumped 110% to $97.7M, or $0.53 per share, from $46.6M, or $0.26 per share, a year earlier.
    • The company sold 1,444 homes in the third quarter ended July 31, up from 1,059 in the same period a year ago. Average selling price rose 12% to $732,000.
    • Backlog of $3.1B and 4,204 units vs. FY 2014's third-quarter-end backlog of $2.8B and 4,001 units.
    • FQ3 results
    • TOL +2.3% premarket
    | Comment!
  • Sep. 3, 2014, 5:49 AM
    • Toll Brothers (NYSE:TOL): FQ3 EPS of $0.53 beats by $0.08.
    • Revenue of $1.06B (+53.8% Y/Y) beats by $72.76M.
    • Press Release
    | Comment!
  • Sep. 2, 2014, 5:30 PM
  • Aug. 19, 2014, 10:31 AM
    • A far-faster-than-expected 15.7% gain in housing starts in July has the homebuilders sharply higher. Lenner (LEN +2.6%), Comstock (CHCI +5.8%), Ryland (RYL +2.4%), Hovnanian (HOV +3.2%), D.R. Horton (DHI +2.1%), Toll Bros. (TOL +1.4%), PulteGroup (PHM +1.1%), KB Home (KBH +1.9%).
    • Commenting on the number, Bill McBride notes starts in Q1 averaged 925K on a seasonally-adjusted annualized rate, 997K in Q2, and that Q3 appears to be off to a solid start (1.093M in July). By year's end, McBride expects 2014 housing starts to increase by a double-digit pace over a weak 2013.
    | 3 Comments
  • Jul. 24, 2014, 10:09 AM
    • The ITB is lower by 1.5% and the XHB by 0.7% with earlier earnings misses from Pulte (PHM -1.5%) and D.R. Horton (DHI -5%). and just-released disappointing new home sales data weighing. Also reporting this morning was M/I Homes (MHO -3.2%), and that company beat estimates.
    • June single-family new home sales of 406K fell 8.1% from May's rate of 442K (which was revised down from 504K). Expectations for June sales were 479K.
    • The supply of new homes rises to 5.8 months at June's sales pace from 5.2 months previously.
    • Other names: Lennar (LEN -1.6%), Ryland (RYL -2.3%), Standard Pacific (SPF -2%), Hovnanian (HOV -0.9%), Toll Brothers (TOL -2.2%).
    | 15 Comments
  • Jun. 24, 2014, 10:09 AM
    • May's adjusted annual pace of 504K new home sales is the fastest print in six years. The number is 18.6% above April's pace and 16.9% higher than a year ago. The supply of new homes on the market at the current sales pace dropped to 4.5 months worth from 5.3 months in April.
    • Sales in the Northeast jumped to 34K from 22K in April, and those in the West to 130K from 97K.
    • Full report
    • Homebuilder ETFs: ITB +1.2%, XHB +0.7%.
    • Toll Bros. (TOL +1.2%), Lennar (LEN +1.4%), D.R. Horton (DHI +1.7%), KB Home (KBH +1.7%), Hovnanian (HOV +1.3%), PulteGroup (PHM +1.3%)
    • Previously: New home sales soar past estimates
    | 16 Comments
  • Jun. 20, 2014, 10:38 AM
    • The averages are nudging higher, but not the homebuilder names after Owens Corning cuts 2014 guidance on continued weakness in its roofing business.
    • Soft action in Q1 continued through April and May, says the company, which now sees H1 roofing volumes as much as 20% lower than 2013. Owens still expects H2 to be better, but is less confident of that forecast today than it was a few months ago.
    • ETFs: ITB -1.3%, XHB -1.2%
    • Toll Bros. (TOL -1.6%),  TriPointe Homes (TPH -1.3%), Lennar (LEN -1.6%), Ryland (RYL -1.8%), Hovnanian (HOV -0.9%), PulteGroup (PHM -1.2%), D.R. Horton (DHI -0.8%), Standard Pacific (SPF -1.8%)
    | 10 Comments
  • Jun. 17, 2014, 9:44 AM
    • Hit particularly hard in early action are the homebuilders after May housing starts missed expectations, but a fast CPI print has interest rates higher.
    • Previously: Treasury prices slip after fast CPI report
    • ETFs: ITB -1.1%, XHB -0.7%
    • D.R. Horton (DHI -2.3%), KB Home (KBH -1.3%), Ryland (RYL -1.1%), Toll Brothers (TOL -1.2%), Lennar (LEN -0.7%), Hovnanian (HOV -0.7%)
    | 1 Comment
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Company Description
Toll Brothers Inc designs, builds, markets and arranges financing for single-family detached and attached homes in luxury residential communities.