Toll Brothers’ income slips as homebuilders predict brighter future

Luxury homebuilder Toll Brothers (TOL) posted third-quarter net income of $66.7 million, or $0.36 per share diluted, down compared to net income of $97.7 million, or $0.53 per share diluted, for the same quarter a year ago.

Revenue did not fare too much better, coming in at $1.03 billion in the third-quarter, compared to 2014’s third-quarter total revenues of $1.06 billion.

This missed EPS expectations of by $0.13, while revenue expectations missed by $20 million.

Additionally, the builder’s third-quarter net contracts of $1.23 billion and 1,479 units rose by 30% in dollars and 12% in units, compared to 2014’s third-quarter net contracts of $949.1 million and 1,324 units.

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August 28, 2015

economy, Housing, real estate

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