Toll Brothers Earnings Call Transcripts
Fiscal Year 2026
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Q3 results exceeded guidance with strong revenue, margins, and earnings, driven by resilient luxury demand and disciplined execution. Full-year guidance is reaffirmed, with continued focus on luxury move-up, community growth, and shareholder returns.
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Q2 results exceeded guidance with strong margins and robust luxury segment performance. Full-year guidance was raised for deliveries, pricing, and margins, supported by resilient demand and operational efficiency. Liquidity and capital allocation remain strong, with continued investment in growth and share repurchases.
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Q1 results exceeded guidance with higher revenue, margins, and EPS, driven by strong luxury segment performance and disciplined spec/build-to-order mix. Guidance for FY26 remains robust, with continued community growth and capital efficiency, despite modest demand gains and regional variability.
Fiscal Year 2025
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Delivered record home sales and strong margins in fiscal 2025, with robust cash flow and disciplined capital allocation. Fiscal 2026 guidance is conservative, reflecting a cautious outlook amid affordability pressures, but expects continued growth in community count and stable margins.
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Record Q3 revenues and earnings were driven by higher average sales prices and strong margins, despite a softer market and increased incentives. Guidance for FY25 remains robust, with continued community growth, disciplined capital allocation, and a CFO transition planned.
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Record Q2 revenue and earnings exceeded guidance, driven by strong luxury home sales and disciplined cost control. Despite softer demand and increased incentives, full-year guidance is reaffirmed, with robust margins, healthy cash flow, and increased share repurchase plans.
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Q1 FY25 saw 1,991 home deliveries and $1.84B in revenue, with adjusted gross margin at 26.9%. Despite mixed market conditions and some regional softness, full-year guidance for deliveries, pricing, and margins is maintained, supported by a strong land position and affluent buyer base.
Fiscal Year 2024
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Q4 and FY2024 saw record revenues, strong margins, and robust contract growth, driven by affluent buyers and strategic spec production. FY2025 guidance projects continued growth in deliveries and community count, with margins expected to remain strong despite market volatility.
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Record Q3 revenues and strong margins were driven by operational efficiency and a balanced spec/build-to-order mix. Full-year guidance was raised for deliveries, revenue, and buybacks, with robust demand supported by favorable demographics and low mortgage rates.