Toll Brothers, Inc. (TOL) Tops Q3 EPS by 8c

Toll Brothers, Inc. (NYSE: TOL) reported Q3 EPS of $0.53, $0.08 better than the analyst estimate of $0.45. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $986.87 million.

• Net signed contracts of $949.1 million and 1,324 units decreased 4% in dollars and 6% in units, compared to FY 2013's third-quarter totals of $992.6 million and 1,405 units. The average price of net signed contracts was $717,000, compared to $707,000 in FY 2013's third quarter. On a per-community basis, FY 2014's third-quarter net signed contracts were 5.25 units, compared to 6.24 units in FY 2013's third quarter. Although this was a year-over-year decline, it was the second highest per-community third quarter total since FY 2006.
• Backlog of $3.1 billion and 4,204 units rose 9% in dollars and 5% in units, compared to FY 2013's third-quarter-end backlog of $2.8 billion and 4,001 units. At third-quarter end, the average price of homes in backlog was $737,000, compared to $709,000 at FY 2013's third-quarter end.

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

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