Toll Brothers First Quarter Results

In a positive turn of events, Toll Brothers' first-quarter revenue saw an increase as home deliveries exceeded expectations. The luxury homebuilder, based in Fort Washington, Pa., reported a profit of $239.6 million, or $2.25 per share in the quarter ended Jan. 31. This is compared to $191.5 million, or $1.70 per share, from the previous year, showcasing notable growth. Analysts were pleasantly surprised as per-share earnings came in higher than expected at $1.78.

Revenue Surpasses Expectations

With a 9% increase in revenue to $1.95 billion, Toll Brothers surpassed the $1.88 billion mark expected by analysts. This highlights the company's strong performance and steady growth trajectory.

Home Deliveries Exceed Projections

Toll Brothers saw a 6% increase in home deliveries to 1,927 units during the period, outpacing the 1,864 units projected by analysts as well as the company's own guidance.

Backlog Value and Contracted Homes

While the backlog value decreased by 18% from the previous year, contracted homes saw a significant increase of 40%. This shows promising prospects for future business and growth opportunities.

Projections for the Future

Looking ahead, Toll Brothers anticipates delivering 2,400 to 2,500 units in the fiscal second quarter, a slight decrease from the 2,492 units delivered in the same period last year. Analysts are optimistic, expecting 2,450 deliveries to be made.

Overall, Toll Brothers' strong performance in the first quarter sets a positive tone for the company's future endeavors and expansion.