Tue, Feb. 24, 7:06 AM
- FQ1 (ending Jan. 31) net income of $81.3M or $0.44 per share vs. $45.6M and $0.25 one year earlier.
- Revenue of $853.5M up 33% Y/Y, and deliveries of 1,091 units up 18%. ASP of $782.3K vs $693.6K.
- Net signed contracts of $873.2M and 1,063 units up 24% in dollars, up 16% in units Y/Y. ASP of $821.5K vs. $766.1K.
- Backlo of $2.74B and 3,651 units, up 2% in dollars and flat in units Y/Y.
- Gross margin of 27.3% up 290 basis points Y/Y.
- Fiscal 2015 guidance is lifted: 5.2K-6K home deliveries vs. 5K-6K previously estimated. ASP is bumped to $725K-$760K from $710K-$760K. For fiscal 2014, there were 5,397 deliveries at an ASP of $725K.
- Conference call at 11 ET
- Previously: Toll Brothers beats by $0.14, beats on revenue (Feb. 24)
- TOL +4.3% premarket
Tue, Feb. 24, 5:45 AM
Mon, Feb. 23, 5:30 PM
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Thu, Jan. 15, 11:31 AM
- The company earlier reported bottom-line results which beat estimates, but the top line slightly missed.
- FQ4 (ending Nov. 30) deliveries of 6,950 homes gained 23% from a year ago. New orders of 5,492 homes up 22%, up 24% in dollar terms. ASP of $329K vs. $307K a year ago. Incentives of 23.1K per home, or 6.6% of home sales revenue vs. $20.6K and 6.3% a year ago.
- Backlogs of 5,832 homes up 21%, up 22% in dollar terms.
- Gross margins of 25.6% fell 120 basis points from a year ago. Operating margin of 16% down 90 bps.
- Like KB Home earlier this week, Lennar (LEN -4%) warns of lower gross margins for fiscal 2015.
- ITB -2.9%, XHB -2.2%
- Toll Brothers (TOL -2.7%), Hovnanian (HOV -5.3%), D.R. Horton (DHI -4.9%), Ryland (RYL -4.7%), KB Home (KBH -5.5%), Pulte (PHM -4.3%) M.D.C. Holdings (MDC -5.9%), NVR (NVR -2.5%), Standard Pacific (SPF -3.2%)
- Previously: Lennar beats by $0.11, misses on revenue (Jan. 15)
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
Dec. 10, 2014, 6:00 AM
Dec. 9, 2014, 5:30 PM
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
Sep. 3, 2014, 5:49 AM
Sep. 2, 2014, 5:30 PM
May. 28, 2014, 7:32 AM
- FQ2 net income (quarter ended on April 30) of $65.2M, or $0.35 per share vs. $24.7M, or $0.14 one year ago.
- Deliveries of 1,218 units up 36% in units and 67% in dollar terms from a year ago. Average price of homes delivered of $706K vs. $577K.
- Net signed contracts of $1.27B and 1,749 units up 7% in dollar terms and flat from a year ago. Average price of signed contracts of $729K vs. $678K.
- Backlog of $3.21B and $4,324 units up 27% in dollar terms and 18% in units.
- SG&A as a percentage of revenue (after excluding Shapell acquisition costs) of 11.5% vs. 15.4%.
- FY14 guidance of 5.1K-5.85K in home deliveries with gross margin improved by 175-200 bps is reaffirmed, but company ups the average price of homes delivered to $690-$720K vs. $675K being the bottom of the range previously.
- CC at 2 ET
- TOL +3.6% premarket
- Previously: Toll Brothers beats by $0.09, beats on revenue
May. 28, 2014, 6:10 AM
May. 27, 2014, 5:30 PM
Feb. 25, 2014, 7:55 AM
- Toll Brothers' (TOL -0.2%) net income jumped to $45.6M from $4.4M a year earlier.
- Pretax profit rose to $71.2M from $8.3M a year earlier, boosted by $23.5M from the sale of two shopping centers in which Toll held 50% and $6.3M from land sales.
- Units delivered +24% to 928.
- Average home price increased to $694,000 from $569,000.
- Cancellation rate 7% vs 6.2%.
- Net signed contracts -6% to 916 units, hurt by the severe winter.
- Backlog +45% to $2.69B, or +31% to 3,667 units.
- Toll is optimistic about the Spring selling season, "based on solid affordability, attractive interest rates, growing pent-up demand and an industry still under-producing."
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