Toll Brothers Backs Full-Year Outlook, Sees Positive Long-Term Home Trends

Dow Jones

21 May

By Kelly Cloonan

Toll Brothers reiterated its outlook for the year despite soft demand in its latest quarter, and its chief executive said long-term trends for its luxury homes remain positive.

The Fort Washington, Pa., home-construction company on Monday said it continues to expect to deliver 11,200 to 11,600 units this year, with an average delivered price per home of $945,000 to $965,000.

Chief Executive Douglas Yearley said the company continues to believe the long-term outlook for the new homes market remains positive, particularly for its luxury niche, given a housing shortage and favorable demographics.

For the second quarter, the company posted a profit of $352.4 million, or $3.50 a share, compared with $481.6 million, or $4.55 a share, a year earlier. Analysts polled by FactSet expected $2.83 a share.

Revenue fell 3.5%, to $2.74 billion, above analyst estimates of $2.48 billion, according to FactSet.

Home-sales revenue rose 2.2%, to $2.71 billion, partially offsetting an 83% fall in land sales, to $32.6 million.

Yearley said the company saw a softer demand environment in the quarter.

For its fiscal third quarter, Toll guided for deliveries between 2,800 units and 3,000 units, and an average delivered home price of $965,000 to $985,000.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 20, 2025 17:02 ET (21:02 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Analysts polled by FactSet expected $2.83 a share. \n\n\n  Revenue fell 3.5%, to $2.74 billion, above analyst estimates of $2.48 billion, according to FactSet. \n\n\n  Home-sales revenue rose 2.2%, to $2.71 billion, partially offsetting an 83% fall in land sales, to $32.6 million. \n\n\n  Yearley said the company saw a softer demand environment in the quarter. \n\n\n  For its fiscal third quarter, Toll guided for deliveries between 2,800 units and 3,000 units, and an average delivered home price of $965,000 to $985,000. \n\n\n \n\n\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 20, 2025 17:02 ET (21:02 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}