Toll Brothers beats by $0.15, beats on revs; provides Q2 guidance (37.27 -0.04)
- Reports Q1 (Jan) earnings of $0.76 per share, $0.15 better than the S&P Capital IQ Consensus of $0.61; revenues rose 16.0% year/year to $1.36 bln vs the $1.26 bln S&P Capital IQ Consensus.
- Backlog value at first quarter end was $5.37 billion, down 4%; units in backlog totaled 5,954, down 5%. Home sales gross margin was 21.0% The Company's FY 2019 first quarter net signed contracts of 1,379 units and $1.16 billion, decreased by 24% in units and 31% in dollars, compared to FY 2018's first quarter net contracts of 1,822 units and $1.69 billion.
- Q2 Guidance: Deliveries of between 1,650 and 1,850 units with an average price of between $860,000 and $890,000. Adjusted Home Sales Gross Margin of approximately 23.1%