Toll Brothers Raises FY Delivery to 10,400–10,700 Homes, Forecasts $985k–$1M Prices
TOL•Toll Brothers’ Q2 revenue fell 7.6% y/y to $2.5 B, topping the $2.4 B estimate, while adjusted EPS of $2.72 beat consensus. The company raised full-year home delivery guidance to 10,400–10,700 units and lifted average delivered price forecast to $985k–$1 M.
1. Q2 Financial Results
Toll Brothers reported Q2 revenue of $2.5 B, down 7.6% y/y but above the $2.4 B estimate, with adjusted EPS of $2.72 beating consensus. The profit beat was driven by higher average delivered prices, which helped offset lower sales volumes.
2. Order Book Trends
Total orders, while slightly below analyst forecasts, reached their highest level in two years, indicating sustained demand in the luxury segment despite broader market challenges.
3. Updated Full-Year Guidance
The company raised its fiscal-year delivery outlook to 10,400–10,700 homes from 10,300–10,700 and lifted its average delivered price forecast to $985,000–$1,000,000 from $970,000–$990,000.
4. Stock Market Reaction
Following the earnings release, shares jumped as much as 5% in after-hours trading, presenting a potential reset point after an 8.2% year-to-date decline compared with an 8% rise in the S&P Midcap 400.
