Toll Brothers (TOL) Misses Q3 EPS by 13c

Toll Brothers (NYSE: TOL) reported Q3 EPS of $0.36, $0.13 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.05 billion.

Outlook:

• The Company expects FY 2015 fourth quarter deliveries of between 1,645 and 1,945 units with an average price of between $780,000 and $800,000. This range results in projected full FY 2015 deliveries of between 5,350 and 5,650 units with an average delivered price of between $745,000 and $760,000.
• The Company expects its FY 2015 fourth quarter gross margin, excluding interest, impairments, and changes in reserves, to be approximately 26.7%, resulting in a full FY 2015 gross margin projection, excluding interest, impairments and changes in reserves, of approximately 26.2%. This is 20 basis points higher than the previous FY 2015 full year guidance. The Company expects continued margin expansion in FY 2016.

For earnings history and earnings-related data on Toll Brothers (TOL) click here.

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