Toll Brothers Q3 EPS $3.60, revenue up 2% to $2.72B; raises FY24 guidance

Toll Brothers, Inc.

2024-Q3 EPS reported $10.40 revenue$7,513,278,000

Net income $374.6M ($3.60 diluted) vs $414.8M ($3.73) in Q3 FY23; revenue $2.72B +2% YoY.
Signed contracts up 11% in units and dollars; backlog $7.07B (-10% YoY).
Adjusted home sales gross margin 28.8% (above guidance); FY24 adjusted gross margin guidance raised to ~28.3%.
Share repurchases $245.9M in Q3; full-year repurchase target raised to ~$600M.
Q4 guidance: deliveries 3,275-3,375 units, avg price $940k-$950k, adjusted gross margin 27.5%.

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