Toll Brothers Q3 EPS $2.35 up 26% YoY, but new contracts plunge 44%; FY22 deliveries guidance cut

Toll Brothers, Inc.

2022-Q3 EPS reported $5.41 revenue$6,563,424,000

Net income $273.5M ($2.35 diluted EPS) vs $234.9M ($1.87) a year ago; revenue $2.3B up 1%.
Net signed contract value $1.66B, down 44% YoY; contracted homes 1,266, down 60%.
Backlog $11.2B up 19%; home sales gross margin 26.0% vs 22.7%.
FY2022 delivery guidance lowered to 10,000-10,300 units from prior view; Q4 adj. gross margin guided 29.2%.
Repurchased ~2M shares for $91.6M at avg. $44.93; quarterly dividend $0.20 paid in July.

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