Toll Brothers (TOL) Tops Q4 EPS by 32c

Toll Brothers (NYSE: TOL) reported Q4 EPS of $1.55, $0.32 better than the analyst estimate of $1.23. Revenue for the quarter came in at $2.55 billion versus the consensus estimate of $2.1 billion.

FY 2021 Financial Guidance:

• First quarter deliveries of approximately 1,675 homes with an average price of between $780,000 and $800,000.
• FY 2021 deliveries of between 9,600 and 10,200 homes with an average price of between $790,000 and $810,000.
• First quarter adjusted home sales gross margin* of approximately 22.4%.
• FY 2021 adjusted home sales gross margin* of approximately 24.1%.
• First quarter SG&A*, as a percentage of home sales revenues, of approximately 15.8%, which includes approximately $11 million, or 80 basis points, of G&A expense that is not expected to occur in subsequent quarters of FY 2021.
• FY 2021 SG&A*, as a percentage of home sales revenues, of approximately 12.2%.
• First quarter other income, income from unconsolidated entities, and land sales gross profit of approximately $25 million.
• FY 2021 other income, income from unconsolidated entities, and land sales gross profit of approximately $65 million.
• First quarter tax rate of approximately 26%.
• FY 2021 tax rate of approximately 26%.
• Community count at first quarter end of approximately 310.
• Community count growth of approximately 10% from FYE 2020 to FYE 2021.

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

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