Toll Brothers, Inc. (NYSE: TOL) reported Q2 EPS of $0.35, $0.09 better than the analyst estimate of $0.26. Revenue for the quarter came in at $860.4 million versus the consensus estimate of $830.91 million.

• Net signed contracts of $1.27 billion and 1,749 units rose 7% in dollars and were flat in units, compared to FY 2013's second quarter totals of $1.19 billion and 1,753 units. The average price of net signed contracts was $729,000, compared to $678,000 in FY 2013's second quarter. On a per-community basis, FY 2014's second-quarter net signed contracts were 7.14 units compared to 7.79 units in FY 2013's second quarter. In conjunction with the closing of the $1.6 billion Shapell Homes acquisition on February 4, 2014, the Company purchased 126 units under existing contracts. These units were not included in the net signed contract total for FY 2014's second quarter.
• Backlog of $3.21 billion and 4,324 units rose 27% in dollars and 18% in units, compared to FY 2013's second-quarter-end backlog totals of $2.53 billion and 3,655 units. At second-quarter end, the average price of homes in backlog was $742,000, compared to $693,000 at FY 2013's second-quarter end.
• In addition to approximately $364.8 million of cash and marketable securities, the Company ended the quarter with $1.35 billion available under its various credit facilities.

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