From GlobeNewswire: 2024-12-09 16:30:00

Toll Brothers, Inc. announced its fourth quarter results for FY 2024. Net income was $475.4 million, with earnings of $4.63 per diluted share, an increase from the previous year. Home sales revenues were $3.26 billion, with 3,431 delivered homes. Net signed contract value increased by 32%, totaling $2.66 billion. Backlog value was $6.47 billion.

For the full FY 2024, Toll Brothers reported a net income of $1.57 billion, with earnings per share of $15.01 diluted. Home sales revenues reached $10.56 billion, with 10,813 delivered homes. Net signed contract value was $10.07 billion, up 27% from the previous year. Adjusted home sales gross margin was 28.4%.

Douglas C. Yearley, Jr., Toll Brothers’ CEO, expressed satisfaction with the company’s performance in FY 2024. Strong results were driven by record earnings, increased contracts by 27%, and delivering 3,431 homes in the fourth quarter. The company is well-positioned going into FY 2025 with strong demand and increased community count.

Toll Brothers provided financial guidance for the first quarter and full FY 2025. Deliveries are expected to be between 1,900 – 2,100 units for Q1, and 11,200 – 11,600 units for the full year. Adjusted home sales gross margin is projected at 26.25% for Q1 and 27.25% for FY 2025. SG&A is expected to be 12.7% for Q1 and 9.4-9.5% for the full year.

The Company ended FY 2024 with $1.30 billion in cash and cash equivalents with $1.77 billion available under its revolving credit facility. Stockholders’ equity was $7.67 billion. Toll Brothers will host a conference call on December 10, 2024, to discuss these results and the company’s outlook for FY 2025.

Toll Brothers operates in five geographic segments across multiple states. The company’s strong performance in FY 2024 reflects its strategic growth plans and financial strength. The focus on luxury homes and diverse markets has contributed to its success in the industry, with continuous growth and expansion.



Read more at GlobeNewswire:: Toll Brothers Reports FY 2024 Results