Homebuilder Toll Brothers (NYSE:TOL) reported a 54% increase in third quarter earnings today, due in part to tax benefits.
Profits totaled $42.1 million, or $0.25 per share, compared to $27.3 million, or $0.16 per share, in last year’s third quarter. The per-share results came in ahead of analyst forecasts.
Revenue slid 13%, to $394.3 million, short of analyst estimates.
Toll Brothers said it signed 713 contracts in the third quarter, an increase of 2% over last year’s third quarter, although pricing was flat, at an average of $570,000 per home.
A check of its homebuilding rivals: PulteGroup (NYSE:PHM) is trading up 2.8%, while DR Horton (DHI) trades up 3.25%.
KB Home (NYSE:KBH) is trading up 2.5%, while Lennar (NYSE:LEN) trades up 1.9%.
This Article's Word Cloud:BrothersHomeHomebuilderHortonLennarNYSEProfitsPulteGroupRevenueTollaheadalthoughanalystaveragebenefitscamecheckcomparedcontractsearningsestimatesflatforecastshomehomebuildingincreaselastmillionoverpartpricingquarterreportedresultsrivalssaidshareshortsignedslidthirdtodaytotaledtradestradingwhileyear
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.