Toll Brothers Q4 Prelim. Revenues Up 6%, Projects Higher Profitability In FY16

(RTTNews) - Luxury home builder Toll Brothers Inc. (TOL) Monday said it expects 6 percent increase in fourth quarter net revenues to $1.44 billion from $1.35 billion last year. Total units for the quarter increased to 1820 from 1807 a year ago. The company will present its final results on December 8, 2015.

Net signed contracts for the fourth quarter is $1.25 billion compared to $970.8 million in the previous year. Total signed units increased 12 percent to 1437 units from 1282 percent a year ago.

The company said its full year 2015 recorded a backlog of around $3.50 billion and 4064 units, in comparison with $2.72 billion and 3679 units in the same period last year.

Douglas Yearley, Jr., Toll Brothers' chief executive officer, said, "This is the fifth consecutive quarter of year-over-year growth in contract dollars and units. Based on our strong backlog and pace of demand, we believe we will have significant growth and increased profitability in FY 2016."