Toll Brothers reported fiscal third-quarter results that beat guidance on deliveries, revenue, and earnings per share. Home sales revenue reached $2.6 billion, with 2,662 homes delivered at an average price of approximately $996,000. Adjusted gross margin was 25.6%, 35 basis points above guidance, and earnings were $280.1 million, or $2.97 per diluted share. Net signed contracts rose 5% in units to 2,508 agreements, while the company raised its full-year share repurchase projection to $700 million from $650 million. Full-year guidance was reaffirmed for adjusted gross margin of 26.1% and home sales revenue of approximately $10.5 billion, with average delivery price now expected between $995,000 and $1 million.
Toll Brothers IncQ3 earnings beat guidance on deliveries, revenue, and EPS, and buyback target raised to $700M.
