NEW YORK - Luxury homebuilder Toll Brothers Inc. (NYSE:TOL) reported better-than-expected fourth quarter results, but its stock edged lower, by 2%, in after-hours trading on Monday.
Toll Brothers posted earnings per share of $4.63 for the quarter ended October 31, beating analyst estimates of $4.34. Revenue came in at $3.33 billion, surpassing the consensus forecast of $3.17 billion.
The company delivered 3,431 homes in Q4, up 25% compared to the same period last year. Home sales revenues rose 10% YoY to $3.26 billion.
"I am very pleased with our fourth quarter results, which cap the strongest year ever for Toll Brothers," said Douglas C. Yearley, Jr., chairman and CEO.
However, Toll Brothers' backlog declined compared to last year. Backlog value was $6.47 billion at quarter-end, down 7% YoY, while homes in backlog fell 9% to 5,996 units.
For fiscal 2025, Toll Brothers expects to deliver between 11,200 and 11,600 homes at an average price of $945,000 to $965,000.
The company repurchased approximately 1.3 million shares during Q4 at an average price of $150.19 per share, totaling $200.9 million.
Toll Brothers ended the quarter with $1.30 billion in cash and cash equivalents. Its net debt-to-capital ratio improved to 15.2% from 17.7% a year ago.
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