Toll Brothers Profit Rises as Housing Market Rebounds
Toll Brothers posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices.
Toll Brothers posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices.
The housing market is back, but how strong will it be this year? New home sales were weaker than expected in December, down nearly eight percent from a year earlier. But the housing recovery for all of 2012 was surprisingly strong after the collapse that started four years earlier.
Toll Brothers' net income rose 46 percent in the third quarter as it delivered more homes at higher prices. It also had lower write-downs during the period.
Now more than ever, there's never a dull moment on Wall Street. Next week will bring plenty of critical headlines, from a panoply of retail earnings reports to Pandora's first results as a public company. Read on for a complete preview of the news to come.
Housing is one cold spot in the economy. Lennar, however, is among the few homebuilders that some big investors are moving back into. Its diversification and appeal to first-time buyers are some of its strengths.
Instead of embracing what the daily voices of doom are proclaiming -- notice how equity prices continue to edge higher in spite of all the seemingly bad news. Now's the time for long-term vision.
Luxury home builder Toll Brothers beat analysts' expectations and cut its losses to $0.25 per share diluted or $40.8 million in the first quarter of fiscal 2010. And while quarterly revenues were down, the number of net signed contracts it booked for houses nearly doubled.











