Toll Brothers Q1 Revenue Rises 15.4% to $2.15B, UBS Boosts Target to $198
UBS raised its price target on Toll Brothers to $198 from $181, maintaining a Buy rating and citing improving housing conditions. In Q1, revenue climbed 15.4% to $2.15 billion on $290.6 million of land sales, EPS rose to $2.19, and 2026 delivery guidance stayed at 10,300–10,700 homes at ~$980,000 each.
1. Q1 Financial Performance
Toll Brothers reported Q1 revenue of $2.15 billion, up 15.4% year over year, driven by $290.6 million in land sales and other revenue versus $18.4 million a year earlier. Adjusted home sales gross margin reached 26.5%, and GAAP EPS rose to $2.19 from $1.75, topping consensus estimates.
2. Analyst Target Increases
UBS maintained a Buy rating and raised its price target to $198 from $181, citing expectations for improved housing market conditions. Oppenheimer also reaffirmed an Outperform rating and lifted its target to $177, highlighting stronger supply-demand dynamics and political support.
3. 2026 Delivery Guidance
The company kept its 2026 guidance for home deliveries at 10,300–10,700 units with an average selling price range of $970,000–$990,000 per home, indicating confidence in near-term demand and pricing stability.