ADVFN - Advanced Financial Network.
HOME» NYSE » T » TOL Stock Price » TOL Stock News

Toll Brothers Share News

 Toll Brothers Inc. Stock Price
TOL Stock Price
 Toll Brothers Inc. Stock Chart
TOL Stock Chart
 Toll Brothers Inc. Stock News
TOL Stock News
 Toll Brothers Inc. Company Information
TOL Company Information
 Toll Brothers Inc. Stock Trades
TOL Stock Trades

Toll Brothers 2Q Loss Narrows On Lower Write-Downs, Improved Sales

DOW JONES NEWSWIRES Toll Brothers Inc.'s (TOL) fiscal second-quarter loss narrowed amid sharply lower write-downs as the luxury home builder also reported sales and margin growth. The overall housing market has remained weak since the expiration of a federal tax credit last year, as well as an ample supply of foreclosures and jittery consumers. Toll Brothers had been a bright spot for the industry in the prior quarter, posting a surprise fiscal first-quarter profit amid higher prices and a low cancellation rate. Chief Executive Douglas C. Yearly Jr. said that the company continues to "see stability, and, in some cases, improvement," across its product lines and the company thinks some of its potential customers who had deferred home buying decisions because of concerns about the economy are starting to be drawn into the market by attractive pricing and lower interest rates. For the quarter ended April 30, Toll Brothers reported its loss narrowed to $20.8 million, or 12 cents a share, from $40.4 million, or 24 cents a share a year earlier. Excluding write-downs, earnings were $1 million, compared with a year earlier loss of $9.5 million. Revenue increased 2.7% to $319.7 million. Analysts polled by Thomson Reuters most recently forecast a loss of 4 cents on revenue of $322 million. Gross margin soared to 13.6% from 1.8%, aided by lower write-downs, as well as reduced incentives and close-outs of lower margin communities. Toll Brothers, one of the nation's largest builders, delivered 591 homes, a 9% increase from a year earlier. However, the average delivery price fell 7.7% to $541,000 from the last quarter. The cancellation rate, defined as cancellations divided by signed contracts, declined to 3.9% from 5.3% a year earlier. The company raised the low end of its fiscal-year deliveries projection by 100 and now expects between 2,300 and 2,800 homes and it lowered the high end of its average price estimate by $5,000, to a range of $540,000 to $560,000 per home. Shares closed Tuesday at $20.27 and were inactive premarket. -By Tess Stynes, Dow Jones Newswires; 212-416-2481;

Stock News for Toll Brothers (TOL)
03/15/201716:13:49Current Report Filing (8-k)
03/13/201711:25:50Statement of Changes in Beneficial Ownership (4)
03/10/201712:51:18Current Report Filing (8-k)
03/10/201709:55:49Statement of Changes in Beneficial Ownership (4)
03/10/201709:48:30Statement of Changes in Beneficial Ownership (4)
03/10/201709:38:54Statement of Changes in Beneficial Ownership (4)
03/10/201709:23:23Statement of Changes in Beneficial Ownership (4)
03/09/201711:19:43Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
03/09/201706:02:30Current Report Filing (8-k)
03/08/201706:03:06Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
03/07/201721:13:23Toll Brothers, Inc. Prices $300 Million of Senior Notes
03/07/201709:31:43Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
03/07/201708:40:07Post-effective Amendment to an Automatic Shelf Registration of...
03/07/201708:23:23Quarterly Report (10-q)
02/27/201710:54:55Statement of Changes in Beneficial Ownership (4)
02/27/201710:44:48Statement of Changes in Beneficial Ownership (4)
02/27/201710:32:40Statement of Changes in Beneficial Ownership (4)
02/27/201708:00:00Toll Brothers’ March 6, 2017 Presentation at Raymond James’ 38t...
02/22/201710:08:12Current Report Filing (8-k)
02/22/201707:51:00Toll Brothers Reports Increase in Contracts, Profit Decline

Toll Brothers and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations