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Apr 30, 2025
Toll Brothers Q2 2025 Earnings Report
Toll Brothers reported strong Q2 results, with earnings surpassing expectations despite a softer demand environment.
Key Takeaways
Toll Brothers exceeded earnings guidance with robust home sales revenue and margin performance, driven by pricing discipline and a diversified product mix. The company maintained strong operational leverage and reaffirmed full-year guidance.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Toll Brothers reaffirmed its full fiscal year 2025 guidance, reflecting confidence in its backlog, operational discipline, and favorable housing market fundamentals.
Positive Outlook
- Reaffirmed FY25 delivery guidance of 11,200 to 11,600 units
- Average delivered price expected to remain strong between $945,000 and $965,000
- Adjusted gross margin projected at 27.25%
- SG&A expected to remain well-controlled at 9.4% to 9.5% of revenue
- Continued strong demand in the luxury segment driven by favorable demographics and housing shortage
Challenges Ahead
- Net signed contracts declined 11% YoY
- Backlog value fell 7% from the previous year
- Backlog units declined 15% YoY
- Softer demand environment impacting pace of sales
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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