Toll Brothers (NYSE:TOL) announced that it earned $411.4 million or $2.35 per share, in the fiscal fourth quarter, versus $15 million, or 9 cents per share, in the same period last year, mainly due to a $350.7 million tax benefit. Revenue was higher by 48 percent to $632.8 million, beating expectations of $565.1 million. More homes were delivered, and order backlog increased, as well.
Shares are higher in early trading.
Last month, rival Beazer Homes (NYSE:BZH) reported that it lost $66.2 million, or $2.82 per suare, versus $43.2 million, or $2.91 per share, in the same period last year. Revenue increased by $370.9 million from $334.9 million.
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