{"id":51983,"date":"2023-08-23T10:33:04","date_gmt":"2023-08-23T14:33:04","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/toll-brothers-earnings-top-wall-street-expectations\/"},"modified":"2023-08-23T10:33:06","modified_gmt":"2023-08-23T14:33:06","slug":"toll-brothers-earnings-top-wall-street-expectations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51983","title":{"rendered":"Toll Brothers earnings top Wall Street expectations"},"content":{"rendered":"
\n

Toll Brothers Inc.
\n TOL,
\n +3.98%<\/bg-quote>
\n shares ticked higher in the extended session Tuesday after the luxury-home builder\u2019s results topped Wall Street expectations. The company reported third-quarter net income of $414.8 million, or $3.73 a share, compared with $273.5 million, or $2.35 a share, in the year-ago period. Revenue rose to $2.69 billion from $2.49 billion in the year-ago quarter, as delivered homes rose 5% to 2,524 units. Analysts surveyed by FactSet had forecast earnings of $2.85 a share on revenue of $2.4 billion on 2,422 deliveries. Toll Brothers forecast fourth-quarter deliveries of 2,650 to 2,750 homes at an average price of $1.01 million to $1.03 million. Analysts had estimated 2,618 deliveries at an average delivery price of around $987,000, and earnings of $3.32 a share on revenue of $2.57 billion for the fourth quarter. \u201cWhile rising rates remain a challenge, they further cement the lock-in effect that has kept resale inventory at historically low levels,\u201d said Douglas Yearley, Toll Brothers chairman and chief executive, in a statement. \u201cWith our deep and well-located land holdings, industry-leading brand, healthy backlog, more efficient operations and balanced spec strategy, we are well positioned to capitalize on continued solid demand for new homes.\u201d Toll Brothers shares rose 1% after hours, following a 1.2% gain in the regular session to close at $75.92.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Toll Brothers Inc. TOL, +3.98% shares ticked higher in the extended session Tuesday after the luxury-home builder\u2019s results topped Wall Street expectations. The company reported third-quarter net income of $414.8 million, or $3.73 a share, compared with $273.5 million, or $2.35 a share, in the year-ago period. Revenue rose to $2.69 billion from $2.49 billion […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-51983","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nToll Brothers earnings top Wall Street expectations | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Toll Brothers Inc. 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