QUAKERTOWN, Pa., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced the opening of Steeple Run, an exceptional new community of single-family homes in Quakertown, Pennsylvania. The Sales Center and model home are located at 1400 Mill Race Drive in Quakertown. Toll Brothers home buyers will choose from a sophisticated selection of two-story, single-family home designs priced from the low $600,000s. Modern home designs in Steeple Run ...

Robert Daly/OJO Images via Getty Images Synopsis Toll Brothers (NYSE:TOL) designs, constructs, and markets luxury residential homes. TOL is well positioned to capitalize on the strong housing demand that is driven mainly by an undersupply of housing and a favourable demographic. Its strategic initiatives to focus on spec homes enable it to meet the demand of buyers who are looking for quick move-in options. In addition, TOL is well disciplined in its land acquisition approach, as it applies strict bench ...

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After exceeding top and bottom line expectations for its fiscal third quarter on Wednesday, the incredible rally in Toll Brothers (TOL)  stock could continue.Soaring over +80% year to date, Toll Brothers stock has impressively outperformed the broader market and many of its home builder peers including KB Home (KBH)  and Lennar Corporation (LEN)  which have soared more than +50% respectively.Image Source: Zacks Investment ResearchToll Brothers Q3 ResultsDelivering 2,814 homes at an average price of $968,000 ...

ATLANTA, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, is now offering a limited number of quick move-in and move-in ready homes at Highlands at Vinings, a luxury new home community featuring four-story townhomes with private elevators in each residence and sought-after rooftop terraces in Atlanta, Georgia. The community is located at 2741 Wynberry Lane in the vibrant downtown Vinings area of Atlanta. Brand new, move-in ready townhomes in the ...

RICHMOND, Texas, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its newest community, Toll Brothers at StoneCreek, is now open for sale in Richmond, Texas, offering a variety of home designs set within a tranquil setting in an ideal location. The Toll Brothers Sales Center and professionally decorated model home are now open daily for tours at 5318 Gilded Estates Drive in Richmond. Situated in the desirable StoneCreek Estates m ...

Toll Brothers TodayTOLToll Brothers$142.45 +1.42 (+1.01%) 52-Week Range$68.08▼$146.75Dividend Yield0.65%P/E Ratio9.73Price Target$132.19Add to WatchlistToll Brothers NYSE: TOL is one of the largest home-building companies in the United States. In 2023, the company's revenue was nearly $10 billion, putting it in fourth place behind giants like Lennar Corp NYSE: LEN and  D.R. Horton NYSE: DHI.Shares have performed well in 2024, providing a total return of 38%, significantly outpacing the market and its indust ...

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Toll Brothers, Inc. (TOL) shares gained 0.7% in the after-hours trading session on Aug 20, after it reported impressive third-quarter fiscal 2024 (ended Jul 31, 2024) results. Its earnings and revenues surpassed the Zacks Consensus Estimate.However, on a year-over-year basis, earnings declined despite revenue growth.Nonetheless, the company witnessed solid deposit and traffic activity through the first three weeks of August. TOL remains optimistic for the future as demand continues to be solid through the e ...

Financial Data and Key Metrics Changes - The company delivered 2,814 homes at an average price of $968,000, generating record third-quarter home sale revenues of $2.72 billion, an increase of 2% year-over-year [4][15] - Adjusted gross margin was 28.8%, exceeding guidance by 110 basis points, while SG&A expense was 9.0% of home sale revenues, 20 basis points better than guidance [4][18] - Earnings per diluted share were $3.60, significantly above previous guidance [15][22] Business Line Data and Key Metrics Changes - The company signed 2,490 net contracts for $2.4 billion, up approximately 11% in both units and dollars compared to the previous year [4][16] - Spec homes represented approximately 54% of orders and 49% of deliveries in the third quarter, with a target of about 50% of the business as spec homes [8][10] Market Data and Key Metrics Changes - Demand was uneven throughout the quarter, with strong performance in July and continued strength into August [5] - Key markets showing strength included New Jersey, Pennsylvania, Metro D.C., South Carolina, Atlanta, Boise, Las Vegas, and all of California [5][6] Company Strategy and Development Direction - The company is focusing on widening geographies and price points to include more affordable homes, which has helped meet demand and improve efficiency [8] - The strategy includes maintaining a balance of 50% spec and 50% build-to-order homes, with a long-term gross margin target of 27% to 28% [24][52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about demand trends due to favorable demographics and a balanced supply-demand situation in the housing market [5][7] - The company expects to deliver between 10,650 and 10,750 homes for the full year, raising guidance based on strong third-quarter results [16][22] Other Important Information - The company plans to continue growing community count, targeting 410 communities by fiscal year-end, representing an 11% growth [20][21] - The net debt-to-capital ratio was 19.6%, with $893 million in cash and equivalents, providing ample flexibility for growth and capital return [21] Q&A Session Summary Question: Can you elaborate on the greater efficiency in homebuilding operations and the sustainability of the operating margin? - Management believes the operating margin is sustainable, targeting a long-term gross margin in the 27% to 28% range [24] Question: What was the actual number of specs in the quarter? - The company had around 3,400 specs, with approximately 750 at completion or beyond [26] Question: How confident is the company that improved cycle times and increased spec levels can drive delivery growth into 2025? - Management is very confident that improved cycle times and the spec strategy will continue to drive delivery growth [34] Question: What is driving the expected decline in fourth-quarter gross margin? - The decline is attributed to a mix of lower high-margin homes delivering in the fourth quarter compared to the third quarter [36] Question: Has the company seen any ability to dial back incentives or raise prices? - Management noted that while pricing was flat, they are seeing improved traffic and potential pricing power as rates decline [40][42] Question: How does the company view the balance between deliveries and orders going forward? - Management anticipates that deliveries will reach equilibrium with orders soon, but does not expect spec to outgrow the build-to-order business in terms of deliveries [76][78]