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Toll Brother Builders, one of the better respected/ managed new home builders in the USA crushed earnings, beat by about $1 per share. Toll Brothers stock is up over seven percent today.
If Toll Brothers is any indication of the housing market on a MACRO scale- the housing market itself remains strong. It should be noted Toll Brothers new home contracts are down 60 percent this month.
The luxury homebuilder reported an increase in profit to $640.5 million, or $5.63 per share, compared with $374.3 million, or $3.02 per share, a year ago. Analysts polled by FactSet expected $4.01 per share. Net income in the quarter includes a $138.4 million net pre-tax benefit, primarily related to the settlement of claims associated with a natural-gas leak that occurred in Southern California in late 2015.
REVENUE: The company said revenue increased to $3.71 billion from $3.04 billion a year ago. Analysts expected revenue of $3.17 billion. Home sales revenue, which represents a majority of total revenue, increased 21% to $3.6 billion.
If Toll Brothers is any indication of the housing market on a MACRO scale- the housing market itself remains strong. It should be noted Toll Brothers new home contracts are down 60 percent this month.
The luxury homebuilder reported an increase in profit to $640.5 million, or $5.63 per share, compared with $374.3 million, or $3.02 per share, a year ago. Analysts polled by FactSet expected $4.01 per share. Net income in the quarter includes a $138.4 million net pre-tax benefit, primarily related to the settlement of claims associated with a natural-gas leak that occurred in Southern California in late 2015.
REVENUE: The company said revenue increased to $3.71 billion from $3.04 billion a year ago. Analysts expected revenue of $3.17 billion. Home sales revenue, which represents a majority of total revenue, increased 21% to $3.6 billion.
Toll Brothers Posts Higher 4Q Revenue -- Earnings Review
By Kathryn Hardison Toll Brothers Inc. reported higher fiscal fourth-quarter revenue as it delivered more homes in the recent period. Here's what you need to...
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