Toll Brothers reported robust Q3 FY2024 results, with net income of $374.6 million and EPS of $3.60. Home sales revenues increased 2% YoY to $2.72 billion, while deliveries rose 11% to 2,814 units. The adjusted home sales gross margin was 28.8%, exceeding guidance due to favorable mix and operational efficiencies.Net signed contracts grew 11% in both units and value compared to Q3 FY2023. The company ended the quarter with a backlog of $7.07 billion and 6,769 homes. Based on Q3 performance and Q4 expectations, Toll Brothers raised its full-year guidance across key metrics, including an adjusted gross margin forecast of 28.3% and EPS projection of $14.50-$14.75.The company remains on track to achieve its goal of 410 communities by fiscal year-end, representing 11% growth. Toll Brothers repurchased $246 million of common stock in Q3, bringing year-to-date repurchases to $427 million. The expected share repurchase total for FY2024 has been increased from $500 million to $600 million.

Toll Brothers reported robust Q3 FY2024 results, with net income of $374.6 million and EPS of $3.60. Home sales revenues increased 2% YoY to $2.72 billion, while deliveries rose 11% to 2,814 units. The adjusted home sales gross margin was 28.8%, exceeding guidance due to favorable mix and operational efficiencies.Net signed contracts grew 11% in both units and value compared to Q3 FY2023. The company ended the quarter with a backlog of $7.07 billion and 6,769 homes. Based on Q3 performance and Q4 expectations, Toll Brothers raised its full-year guidance across key metrics, including an adjusted gross margin forecast of 28.3% and EPS projection of $14.50-$14.75.The company remains on track to achieve its goal of 410 communities by fiscal year-end, representing 11% growth. Toll Brothers repurchased $246 million of common stock in Q3, bringing year-to-date repurchases to $427 million. The expected share repurchase total for FY2024 has been increased from $500 million to $600 million.