Images via Toll Brothers.
Toll Brothers, a Fort Washington residential home builder, had an amazing last year that saw its stock skyrocket thanks to a strong housing market and despite rising material costs, writes Jea Yu of MarketBeat.com for Investing.com.
The company’s shares rebounded sharply on its blowout fiscal Q4 2021 earning results.
“We are very pleased with our fourth-quarter results, which cap an extraordinary year of record revenues, earnings, contracts, and backlog value,” said Toll Brothers CEO Douglas Yearley Jr.
For the quarter ending October 2021, the company reported earnings-per-share profits of $3.02. This beat consensus analyst estimates for a profit of $2.50. Toll Brothers also saw its revenue increase by 19.5 percent year-over-year to $3.04 billion, which beat consensus analyst estimates of $2.91 billion.
Home sales revenues were up 18 percent year-over-year at $2.95 billion. Delivered homes increased 14 percent to 3,341, while the backlog value grew 49 percent to $9.5 billion with 10,302 homes.
This is an increase of 32 percent year-over-year.
“Our fourth-quarter results, combined with our strategy of driving capital and operating efficiency, contributed to an 830 basis point increase in our full-year return on beginning equity to 17.1 percent,” said Yearley.
Read more about Toll Brothers at Investing.com.
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