Toll Brothers Q4 Net Income Rises, Revenues Up 6%

(RTTNews) - Toll Brothers, Inc. (TOL) reported fourth-quarter net income of $147.2 million, or $0.80 per share compared to $131.5 million or $0.71 per share, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.83 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $1.44 billion and home building deliveries were 1,820 units, up 6% in dollars and 1% in units, compared to prior year fourth-quarter totals of $1.35 billion and 1,807 units. Analysts expected revenue of $1.43 billion for the quarter.

Fiscal 2015 net income was $363.2 million, or $1.97 per share compared to $340.0 million, or $1.84 per share, prior year. Fiscal year total revenues of $4.17 billion and 5,525 units rose 7% in dollars and 2% in units, compared to previous year.

"We enter fiscal 2016 with a backlog up 29% in dollars and are experiencing a housing market in many regions that is healthier than a year ago. Therefore, we believe fiscal 2016 will be a year of strong growth in revenues and profit," Douglas Yearley, Jr., Toll Brothers' CEO, stated.

Toll Brothers expects to produce home building revenues of between $4.5 billion and $5.6 billion in fiscal 2016 based on deliveries of between 5,600 and 6,600 homes at an average price of between $800,000 and $850,000 per home.