---
schema_version: "secwatch.filing_event.v1"
accession: "0000794170-23-000051"
form_type: "8-K"
ticker: "TOL"
cik: "0000794170"
company_name: "Toll Brothers, Inc."
filed_at: "2023-08-22T23:59:59+00:00"
generated_at: "2026-06-11T05:52:36.320833+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Toll Brothers Q3 EPS $3.73 beats; raises full-year guidance

## Summary
- Q3 net income $414.8M ($3.73 diluted EPS) vs $273.5M ($2.35) YoY; home sales rev $2.7B +19%.
- Net signed contracts $2.2B (+30% value, +77% units YoY); backlog $7.9B (-30%).
- Adjusted home sales gross margin 29.3% vs 27.9% YoY; SG&A margin 8.6% vs 10.3%.
- Raised FY2023 guidance: deliveries 9,500-9,600, adj. gross margin 28.5%, SG&A 9.4%.
- Repurchased ~1.9M shares for $147.3M; S&P upgraded to investment grade; net debt-to-capital 20.5%.

## SEC filing metadata
- accession: 0000794170-23-000051
- form_type: 8-K
- ticker: TOL
- cik: 0000794170
- company_name: Toll Brothers, Inc.
- filed_at: 2023-08-22T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01, 99.1
- EDGAR index: https://www.sec.gov/Archives/edgar/data/794170/000079417023000051/0000794170-23-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/794170/000079417023000051/tol-20230822.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000794170-23-000051
- JSON: https://secwatch.observer/filing/0000794170-23-000051.json
- Plain text: https://secwatch.observer/filing/0000794170-23-000051.txt

## Key facts
- Earnings Releases
  Toll Brothers, Inc. reported third quarter ended July 31, 2023 results: revenue $2.67 billion, net income $414.8 million, EPS $3.73 per share diluted. Guidance raised.
  - Period: third quarter ended July 31, 2023
  - Revenue: $2.67 billion
  - Net income: $414.8 million
  - EPS: $3.73 per share diluted
  - Guidance: raised
  - Result: reported results
  source text: $2.35 per share diluted Pre-Tax Income $553.0 million $366.0 million Pre-Tax Inventory Impairments included in Cost of Home Sales $3.4 million $6.2 million Home Sales Revenues $2.67 billion and 2,524 units $2.26 billion and 2,414 units Net Signed Contracts $2.16 billion and 2,245 units $1.66 billion and 1,266 units Net Signed Contracts per Community 6.6 units 3.9
  evidence_url: https://www.sec.gov/Archives/edgar/data/794170/000079417023000051/0000794170-23-000051-index.htm
- Earnings Releases
  Toll Brothers, Inc. reported nine months ended July 31, 2023 results: revenue $6.91 billion, net income $926.5 million, EPS $8.28 per share diluted. Guidance raised.
  - Period: nine months ended July 31, 2023
  - Revenue: $6.91 billion
  - Net income: $926.5 million
  - EPS: $8.28 per share diluted
  - Guidance: raised
  - Result: reported results
  source text: $5.41 per share diluted Pre-Tax Income $1.24 billion $862.6 million Pre-Tax Inventory Impairments included in Cost of Home Sales $22.4 million $10.7 million Home Sales Revenues $6.91 billion and 6,842 units $6.13 billion and 6,750 units Net Signed Contracts $5.89 billion and 6,039 units $7.75 billion and 7,069 units Home Sales Gross Margin 26.7 % 24.6 % Adjusted Home
  evidence_url: https://www.sec.gov/Archives/edgar/data/794170/000079417023000051/0000794170-23-000051-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.