Toll Brothers delivered net income of $210.9 million, or $2.19 per diluted share, in its fiscal first quarter ended January 31, 2026, a 25% increase from $1.75 per share a year earlier. Home sales revenues were $1.85 billion, slightly above the prior year’s $1.84 billion, reflecting stable demand at an average selling price near $977,000.

The quarter-end backlog declined to $6.02 billion from $6.94 billion a year ago, with 5,051 homes remaining under contract versus 6,312. Net signed contract value rose to $2.38 billion on 2,303 homes, flat in units but up 3% in dollars as the average contract price climbed to $1,033,000.

Other income, gross margin from land sales and unconsolidated entities contributed $72.0 million, including $330 million net proceeds from selling half its Apartment Living portfolio. The company repurchased approximately 0.3 million shares at an average of $146.75 for $50.5 million.

Toll Brothers expects second-quarter deliveries of 2,400–2,500 homes and full-year deliveries of 10,300–10,700 units, with average selling prices of $975,000–$985,000 next quarter and $970,000–$990,000 for the year. Adjusted home sales gross margin is guided at 25.50% in Q2 and 26.00% for FY 2026, SG&A at 10.7% and 10.25%, and period-end community count of 455 rising to 480–490 by year end.