Toll Brothers (NYSE:TOL) reported better-than-expected third-quarter financial results and issued FY24 EPS guidance above estimates after the closing bell on Tuesday.
Toll Brothers reported third-quarter revenue of $2.73 billion, beating the consensus estimate of $2.71 billion, according to Benzinga Pro. The luxury homebuilder reported adjusted earnings of $3.60 per share, beating analyst estimates of $3.31 per share.
Home sales revenues were up 2% year-over-year to $2.72 billion as homes delivered jumped 11% to 2,814. Net signed contract value increased 11% year-over-year and contracted homes grew 11% to 2,490. Toll Brothers ended the quarter with a backlog of $7.07 billion, down 10% year-over-year.
"Net signed contracts were up year-over-year approximately 11% in both units and dollars, with July being our strongest month in the quarter. We are also encouraged by our solid deposit and traffic activity through the first ...
