Toll Brothers Q2 2020 Earnings Report
Key Takeaways
Toll Brothers reported a decrease in net income and home sales revenues compared to the same quarter last year, but the company is encouraged by recent deposit activity and web traffic. They ended the quarter with approximately $2.0 billion of liquidity.
Net income was $75.7 million, or $0.59 per share diluted, compared to $129.3 million, or $0.87 per share diluted, in the prior year's second quarter.
Home sales revenues were $1.52 billion, down 11% from the prior year's second quarter.
Net signed contract units were 1,886, down 22% from the prior year's second quarter; contract value was $1.55 billion, down 22%.
Backlog in units at second-quarter end was 6,428, down 1%; backlog value was $5.49 billion, down 3%.
Toll Brothers
Toll Brothers
Toll Brothers Revenue by Segment
Forward Guidance
Due to the business disruption and the evolving and uncertain impact of the Covid-19 pandemic on the U.S. economy, the Company has withdrawn its full fiscal year 2020 guidance and will suspend providing such guidance for the foreseeable future.
Revenue & Expenses
Visualization of income flow from segment revenue to net income