Fiscal Q4 net signed contract value of $1.50B fell 15% from a year ago and contract units of 1,715 declined 13%.
“Current market conditions create a wide range of possible scenarios for our full year results. While we are targeting modest community count growth by FYE 2019, we have limited our forward-looking income statement guidance to the first quarter of 2019," says Toll CFO Martin P. Connor.
Deliveries of 1,350-1,550 units with average price of $850,000-$880,000.
Q1 adjusted gross margin of about 23.5%.
Tax rate of about 27.5%.
Q4 EPS of $2.08 rose from $1.17 a year ago.
Q4 revenue of $2.46B, up 21% Y/Y and homebuilding deliveries rose 12% to 2,710.
Q4 average price of homes delivered was $906,000 vs. $836,600 a year ago.
Q4 cancellation rate of 9.3% compares with 7.9% a year ago.
Previously: Toll Brothers beats by $0.25, beats on revenue (Dec. 4)
Previously: Toll Brothers bull trims estimate; shares down 2% (Nov. 30)
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