Toll Brothers reports record FY2023 EPS of $12.36; Q4 EPS $4.11, contracts surge 72%

Toll Brothers, Inc.

2023-FY EPS reported $12.36 revenue$9,994,937,000

FY2023 net income $1.37B ($12.36 diluted EPS), up 13% YoY; home sales revenues $9.87B, up 2%.
Q4 net income $445.5M ($4.11 diluted EPS); home sales revenues $2.95B on 2,755 homes, down 18% but above guidance midpoint by $211M.
Q4 net signed contracts $2.01B (2,038 homes), up 72% in units YoY; backlog $6.95B (6,578 homes).
Adjusted home sales gross margin for Q4 29.1% (60 bps above guidance); FY2023 adj margin 28.7%.
FY2024 guidance: deliveries 9,850-10,350 units; Q1 deliveries 1,800-1,900; community count to grow ~10%.

item 2.02 item 9.01 item 99.1

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Toll Brothers, Inc. reported the three-month and twelve-month periods ended October 31, 2023 results: revenue $2.95 billion, net income $445.5 million, EPS $4.11 per share diluted. Guidance initiated.

Period: the three-month and twelve-month periods ended October 31, 2023
Revenue: $2.95 billion
Net income: $445.5 million
EPS: $4.11 per share diluted
Guidance: initiated
Result: reported results

Exact text from the filing

net after-tax benefit related to a litigation settlement. • Pre-tax income was $605.0 million, compared to $841.1 million in FY 2022’s fourth quarter. • Home sales revenues were $2.95 billion, down 18% compared to FY 2022’s fourth quarter; delivered homes were 2,755, down 27%. • Net signed contract value was $2.01 billion, up 53% compared to FY 2022’s fourth quarter;

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Source: SEC EDGAR

accession 0000794170-23-000058

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