TOL
Toll Brothers, Inc.138.67
-1.79-1.27%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Modest demand uptick; spec flexibility.
Q&A largely reaffirmed prepared remarks and guidance, but surfaced cautious optimism on modestly higher web traffic, foot traffic, and deposits year-over-year since mid-January, tempered by weather hits in the Southeast. Management stressed flexibility to dial back spec starts if demand softens, leaning into high-margin build-to-order. Incentives held steady at 8% unlike peers, with price hikes in 30%-40% of communities amid strong North sales. Land opportunities improved via seller financing and less luxury competition. Margins slip sequentially in Q2 on mix, but rebound later. Spring pace matters most.
Key Stats
Market Cap
13.37BP/E (TTM)
10.28Basic EPS (TTM)
13.49Dividend Yield
0.01%Recent Filings
8-K
Annual meeting results
Toll Brothers held its annual meeting on March 10, 2026, with 94.7 million shares eligible to vote. Stockholders elected all nine directors, including Douglas C. Yearley, Jr., amid some opposition for Sandstrom (5.8M against) and Pritchett (3.5M). They ratified the accounting firm and approved say-on-pay 67M-3M. Continuity intact.
10-Q
Q1 FY2026 results
Toll Brothers held steady with $2.15B total revenues for Q1 FY2026 ended January 31, 2026, up 15% y/y on $290.6M land sales and other (versus $18.4M prior), while home sales edged 1% higher to $1.85B despite 5% fewer deliveries at steady 75.2% gross margin. Operating income flat at $219.1M; net income climbed 19% to $210.9M or $2.19 diluted EPS (reconciles to 96.5M shares), boosted by $35.4M unconsolidated entity gains from Apartment Living asset sales to Kennedy Wilson netting $330M cash, offset by $44.3M impairments on retained JVs. Cash at $1.20B with $2.20B revolver availability; total debt $2.73B including $650M term loan at 4.55% and $1.75B senior notes. Solid liquidity persists. Yet mortgage rates challenge affordability.
8-K
Q1 earnings beat prior year
Toll Brothers posted Q1 FY2026 net income of $210.9 million, or $2.19 per diluted share—up 25% from $1.75 last year—despite fewer deliveries of 1,899 homes at $1.85 billion revenue. Signed $2.38 billion in contracts; backlog dipped to $6.02 billion. Cash proceeds of $330 million from selling half its Apartment Living portfolio signal multi-family exit. Guidance holds steady.
8-K
Toll extends key facilities
Toll Brothers amended its $2.375B revolving credit facility, up $25M from $2.35B, and extended maturity from 2030 to 2031 while dropping the 10bp SOFR adjustment. The $650M term loan saw $548M extended to 2031, leaving $102M at 2030, with similar SOFR tweaks. Lenders swapped in; liquidity bolsters homebuilding ops through 2031.
8-K
Mistry named Toll CEO March 30
Toll Brothers appointed EVP Karl Mistry as CEO effective March 30, 2026, with Doug Yearley transitioning to Executive Chair while retaining a significant management role. Mistry, a 22-year veteran overseeing Eastern operations across 15 states, gets $1M base, $2.25M target bonus, $4.25M equity. Yearley eyes $6.6M total comp from fiscal 2027. Smooth handover planned.
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