Market Updates
Toll Brothers Home Backlog Value Jumps 35%
Scott Peters
25 May, 2022
New York City
Toll Brothers, the luxury home builder, said in the latest quarter it completed 2,407 homes, an increase of 6%.
Sales increased 19% to $2.2 billion and net income rose to $220.6 million or $1.85 a share from $127.9 million or $1.01 share a year ago.
Home sale gross margin in the quarter increased to 24.1% from 21.9% a year ago.
The company's board reactivated share repurchase program on May 17 with no expiry date for $900 million or 20 million shares at the current market price.
Backlog and Signed Contracts
Net signed contract value was $3.1 billion, up 1% compared to a year ago when contracted homes declined 18% to 2,874.
Backlog value increased 35% to $11.7 billion compared to a year ago when homes in backlog were 11,768, up 16%
Guidance and Outlook
In the fiscal third quarter the home builder plans to deliver 2,750 homes and for the full-year between 11,000 and 11,500 homes.
Average home delivered price per home in the third quarter to range between $895,000 and $915,000 and for the full-year between $890,000 and $910,000.
The company estimated SG&A as a percentage of home sales revenues at 10.5% in the third quarter and 10.4% for the full-year.
The company estimates home building in 325 active communities at the end of third quarter and 370 in the full-year.
Company and Stock
Toll Brothers jumped 3% to $45.98 after the company reported earnings.
For the year so far, Toll Brothers has fallen 32.7%.
Annual Returns
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|