Core Insights - Toll Brothers, Inc. is launching a new luxury home community named Toll Brothers at The Bluffs at Wesley Chapel in Waxhaw, North Carolina, with sales expected to begin in spring 2026 [1][3] Group 1: Community Details - The new community will feature 12 homes with sizes ranging from 3,905 to over 5,200 square feet, offering up to 6 bedrooms and 5.5 bathrooms [3] - Anticipated pricing for the homes will start at $1.2 million [3] - The community will include options for spacious great rooms, dual staircases, first-floor primary bedrooms, and tranquil covered patios [3] Group 2: Location and Accessibility - The community is ideally located within Union County, providing easy access to major commuter routes such as Interstate 485 and North Carolina Route 16, facilitating travel to Charlotte and surrounding areas [5] - Nearby attractions include Wesley Chapel Village Commons, shops, boutiques, restaurants at Waverly, parks, and golf courses [5] Group 3: Company Background - Toll Brothers, Inc. is recognized as the nation's leading builder of luxury homes and operates in over 60 markets across the United States [9][10] - The company has been named the 1 Most Admired Home Builder in Fortune magazine's 2026 list of the World's Most Admired Companies, marking the ninth consecutive year of this recognition [11]

AUSTIN, Texas, Jan. 26, 2026 /PRNewswire/ -- Luxury home prices stabilized at the end of 2025, while the gap between luxury homes and typical listings varied widely across local housing markets. The national entry point for luxury, defined as the 90th percentile of listing prices, was $1.19 million in December, down just 0.6% from a year ago, according to the ®December Realtor.com Luxury Housing Report. The smaller decline compared with earlier months suggests luxury prices overall may be approaching a near ...

Core Insights - Toll Brothers, Inc. has been recognized as the 1 Most Admired Home Builder in Fortune magazine's 2026 list of the World's Most Admired Companies, marking the ninth consecutive year the company has received this accolade [1][5]. Company Overview - Toll Brothers, Inc. is the leading builder of luxury homes in the United States, founded in 1967 and publicly traded since 1986 under the symbol "TOL" [4]. - The company operates in over 60 markets across the U.S., catering to various buyer segments including first-time, move-up, active-adult, and second-home buyers [4]. - Toll Brothers also has diversified operations, including architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses [4]. Recognition and Impact - The recognition as the 1 Home Builder reflects the company's commitment to excellence over nearly 60 years in the luxury home building sector [3]. - The 2026 survey conducted by Fortune and Korn Ferry involved 685 high-revenue companies across 51 industries and 29 countries, assessing companies on nine criteria including investment value, management quality, and social responsibility [2]. - The acknowledgment from Fortune highlights the company's ability to innovate and lead in a rapidly changing business environment, particularly with advancements in technology such as AI [3].

Group 1 - Toll Brothers (TOL) is a leading home construction company in the U.S., focusing on luxury homes and known for high-quality construction [1] - Competitors in the market include major homebuilders such as Lennar and D.R. Horton [1] - Citigroup has upgraded TOL's stock rating to "Outperform," indicating a positive outlook for the company [1][2] Group 2 - The home builder stocks, including TOL, have had a strong start to the year, driven by robust demand for new housing [2] - Builders are expected to offer incentives to attract buyers, which may help sustain momentum in the housing market [2] Group 3 - At the time of Citigroup's announcement, TOL's stock price was $136.09, with a slight decrease of $0.06 or approximately -0.044% [3] - The stock has shown resilience, fluctuating between $132.56 and $136.37, indicating investor interest [3] Group 4 - Over the past year, TOL's stock has experienced a high of $149.79 and a low of $86.67, reflecting its volatility [4] - The company's market capitalization is approximately $13.12 billion, highlighting its significant presence in the industry [4] - Today's trading volume for TOL is 633,396 shares, indicating active trading on the NYSE [4]

Core Insights - National luxury home prices softened in November 2025, with the 90th-percentile threshold decreasing to $1.20 million, a decline of 2.3% year-over-year [1][3] - The luxury market is characterized by mixed trends, with some metropolitan areas experiencing rapid turnover while others face slower sales [3][7] National Overview - The luxury threshold at the 90th percentile is $1,199,977, down 2.0% month-over-month and 2.3% year-over-year - The high-end luxury threshold at the 95th percentile is $1,930,853, reflecting a monthly decrease of 1.2% and a yearly decline of 2.7% - The ultra-luxury threshold at the 99th percentile is $5,490,492, showing a slight monthly increase of 0.5% but a yearly decrease of 2.4% - The national median listing price stands at $415,000, down 2.2% month-over-month and 0.4% year-over-year - The share of million-dollar listings is 12.8%, a decrease of 0.4 percentage points month-over-month and unchanged year-over-year [3][4] Fastest and Slowest Luxury Markets - Luxury homes nationally spent a median of 78 days on the market in November, unchanged from the previous year - San Jose–Sunnyvale–Santa Clara, CA, had the fastest sales at a median of 56 days, while Bend, OR, recorded the slowest at 146 days [4][6] - Naples–Marco Island, FL, saw luxury homes selling 23.5% faster year-over-year, with a luxury threshold of $3.50 million [5] - Other fast-moving markets include Riverside–San Bernardino–Ontario, CA, and the Washington, D.C., area, with median selling times of 57 to 58 days [6] Luxury Pricing Trends - The luxury market is increasingly influenced by local factors rather than national trends, with some areas experiencing strong demand and quick sales while others struggle [3][7] - Markets with well-aligned pricing and demand are seeing rapid sales, while high-priced metros with specialized buyer pools are facing slower turnover [7]

Core Insights - Toll Brothers (NYSE:TOL) is a leading luxury home construction company in the United States, recognized for its high-quality construction and significant market presence [1][5] - The Federal Reserve's recent interest rate cut has positively influenced home builder stocks, including TOL, by making home buying more affordable and boosting demand for new homes [2][5] - TOL's stock price has increased by 4.19%, reflecting positive market sentiment and active investor interest [3][5] Financial Performance - TOL's current stock price is $138.55, with a daily trading range between $133.26 and $139.23, indicating volatility [3] - Over the past year, TOL's stock has fluctuated significantly, reaching a high of $149.79 and a low of $86.67 [3] - The company has a market capitalization of approximately $13.35 billion, highlighting its status as a key player in the home building industry [4] Market Activity - The trading volume for TOL on the NYSE stands at 1,388,922 shares, indicating active investor interest [4] - Susan Maklari from Goldman Sachs has set a price target of $140 for TOL, suggesting a slight potential for growth [1][5]

Core Viewpoint - Goldman Sachs maintains a Neutral rating for Toll Brothers, advising investors to hold the stock while adjusting its price target from $142 to $140 amid favorable conditions for home builder stocks following a Federal Reserve interest rate cut [1][2][5] Company Overview - Toll Brothers is a leading home construction company in the U.S., focusing on luxury homes and operating in segments like traditional home building and urban infill [1] - The company competes with major builders such as Lennar and D.R. Horton [1] Market Conditions - The Federal Reserve's decision to cut interest rates is viewed positively for home builders, including Toll Brothers, as it leads to a decrease in the 10-year Treasury yield, which is beneficial for mortgage rates [2] - The stock price of Toll Brothers reflects market optimism, currently at $138.55, marking a 4.19% increase or $5.57 [3][5] Stock Performance - Toll Brothers' stock has shown volatility over the past year, with a high of $149.79 and a low of $86.67 [4] - The company's market capitalization is approximately $13.35 billion, with a trading volume of 1,388,922 shares on the NYSE, indicating its significant presence in the home building industry [4]

Toll Brothers - Shares of Toll Brothers are under pressure due to concerns that the housing market may remain challenging into 2026, indicating a slow recovery [1][5] - The company reported mixed results for the last quarter, with revenue of $3.42 billion exceeding expectations of $3.3 billion, but adjusted EPS of $4.58 falling short [2] - Toll Brothers expects to deliver between 10,200 and 10,700 units in 2026, which is below market expectations [2] - The average selling prices for homes are projected to be between $970,000 and $990,000 for 2026, which is in line with Wall Street's forecasts [3][4] AutoZone - AutoZone's quarterly results were weaker than expected, with EPS at $31.04 and revenue at $4.63 billion, both lower than market expectations [6] - The company's investments and growth initiatives have negatively impacted margins, with gross margins declining and operating expenses increasing [7] - Despite the challenges, same-store sales increased by 5.5%, and commercial sales saw a significant jump of 14.5% [7][8] Norwegian Cruise Line - Norwegian Cruise Line received a downgrade from Goldman Sachs, moving from a buy to neutral, with a price target of $21 [9][10] - Concerns are raised regarding Norwegian's significant exposure to the Caribbean market, which may lead to profitability challenges due to rapid capacity expansion [11][12]

Financial Data and Key Metrics Changes - The company delivered 11,292 homes at an average price of $960,000, generating a record $10.8 billion in home sales revenue, with an adjusted gross margin of 27.3% and earnings of $13.49 per diluted share [4][5][18] - For the fourth quarter, the company generated $3.4 billion in home sales revenue with an adjusted gross margin of 27.1% and earnings of $4.58 per diluted share, slightly below guidance due to a delayed sale [5][19] - The company reported a net income of $1.35 billion for the full year, down from $1.57 billion the previous year, primarily due to a one-time gain in the prior year [18][19] Business Line Data and Key Metrics Changes - The company grew its community count by 9% and maintained strong operating cash flows of $1.1 billion, returning approximately $750 million to stockholders through share repurchases and dividends [5][21] - Spec homes accounted for approximately 54% of deliveries in fiscal 2025, allowing the company to appeal to buyers looking for quicker move-ins [7][8] - The average spend on design studio selections and upgrades was approximately $206,000 per home, benefiting margins [13] Market Data and Key Metrics Changes - The company noted relative strength in the East and coastal California markets, with little meaningful variation in demand among buyer segments [11] - The average sales price in the quarter was approximately $972,000, down from $1 million in the same quarter last year due to a mix of sales [10][19] - The company observed a structural undersupply of homes in the U.S., with favorable demographics supporting long-term housing demand [10][11] Company Strategy and Development Direction - The company plans to exit the multifamily business, expecting to complete the sale of its apartment living assets and use the proceeds to grow its core home building business and return capital to stockholders [6][16][50] - The company aims to grow community count by 8%-10% in fiscal 2026, targeting 480-490 communities [24] - The strategy includes a balanced portfolio of build-to-order and spec homes to improve efficiencies and reduce construction cycle times [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the housing market, noting that mortgage rates have stabilized and demographic trends remain favorable [9][10] - The company is not assuming any market improvement in its guidance for fiscal 2026, projecting first-quarter deliveries of 1,800-1,900 homes [21][22] - Management highlighted the importance of consumer confidence and affordability pressures as key factors influencing the housing market [87] Other Important Information - The company ended the fiscal year with over $3.5 billion in liquidity and a net debt-to-capital ratio of 15.3% [21] - The company repurchased $652 million of its common stock during fiscal 2025, representing 5% of outstanding shares [15][21] Q&A Session Summary Question: Can you provide insights on the active adult buyer segment and trends affecting land purchasing decisions? - Management noted that the active adult segment is performing well, representing about 17% of revenue, and emphasized a disciplined approach to land purchasing amid changing trends [31][32][34] Question: What factors are influencing the guidance for closings in 2026? - Management indicated that the lower backlog at the beginning of 2026 is the primary driver for the guidance, with no assumptions of improved sales pace [72][74] Question: What is driving the sequential decline in gross margins into the first quarter and the full year? - The increase in incentives per house from $68,000 to $80,000 is a significant factor affecting gross margins [81] Question: How does the company view consumer confidence and the desire to sell homes? - Management expressed that consumer confidence remains a critical driver, with some headwinds due to affordability and mortgage rates, but noted potential long-term tailwinds as the market stabilizes [87][88]

Financial Data and Key Metrics Changes - The company delivered 11,292 homes at an average price of $960,000, generating a record $10.8 billion in home sales revenues, with an adjusted gross margin of 27.3% and earnings of $13.49 per diluted share [4][5] - In the fourth quarter, the company generated $3.4 billion in home sales revenue with an adjusted gross margin of 27.1% and earnings of $4.58 per diluted share, which was slightly below guidance due to a delayed sale [5][19] - The company reported a net income of $1.35 billion for the full year, down from $1.57 billion the previous year, primarily due to a one-time gain in the prior year [18] Business Line Data and Key Metrics Changes - The company grew its community count by 9% and maintained strong operating cash flows of $1.1 billion, returning approximately $750 million to stockholders through share repurchases and dividends [5][21] - Spec homes accounted for approximately 54% of deliveries in fiscal 2025, allowing the company to appeal to buyers looking for quicker move-in options [8] - The average spend on design studio selections and upgrades was approximately $206,000 per home, benefiting margins [13] Market Data and Key Metrics Changes - The company noted relative strength in the East and coastal California markets, with little meaningful variation in demand among buyer segments [11] - The average age of first-time home buyers is now 40 years, with the majority of sales in the market going to move-up or move-down buyers [12] - The company is experiencing a structural undersupply of homes in the U.S., which supports demand for new homes [10] Company Strategy and Development Direction - The company plans to exit the multifamily business over the next few years, using cash proceeds to grow its core home building business and return capital to stockholders [16][51] - The company is focusing on a balanced portfolio of build-to-order and spec homes to improve efficiencies and reduce construction cycle times [7] - The company aims to grow community count by 8%-10% in fiscal 2026, targeting 480-490 communities [24] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the housing market, noting that mortgage rates have stabilized and demographic trends remain favorable [9][10] - The company is not assuming any market improvement in its guidance for fiscal 2026, reflecting a conservative approach [40] - Management highlighted the importance of consumer confidence and affordability pressures as key factors influencing the housing market [87] Other Important Information - The company ended the fiscal year with over $3.5 billion in liquidity, including $1.3 billion in cash [21] - The company plans to repurchase $650 million of shares in fiscal 2026, with most occurring later in the year [24][89] - The company is experiencing a cancellation rate of 4.3% of beginning backlog, consistent with previous quarters [19] Q&A Session Questions and Answers Question: What are the assumptions for the active adult buyer? - Management noted that the active adult segment is performing well, representing about 17% of revenue, and expects this group to continue to outperform in softer market conditions [32] Question: Could the number of owned lots stay flat or decline next year? - Management indicated that owned lots may continue to decrease slightly as the company focuses on land banking and joint ventures [36] Question: What is driving the implied moderation in gross margin through the year? - Management explained that the moderation is due to a higher incentive on spec homes, which are expected to increase in the latter part of the year [44] Question: How does the company view consumer confidence and the desire to sell homes? - Management expressed that while consumer confidence is a concern, there are long-term tailwinds that could improve the market as time progresses [87]