Toll Brothers (TOL) reported earnings Tue 8 Dec 2015 (before open)

** charts after earnings **

 Toll Brothers misses by $0.03, reports revs in-line; guides FY16 revs in-line:

• Reports Q4 (Oct) earnings of $0.80 per share, excluding non-recurring items,$0.03 worse than the Capital IQ Consensus of $0.83; revenues rose 6.4% year/year to $1.44 bln vs the $1.44 bln Capital IQ Consensus. 
  • Backlog of $3.50 billion and 4,064 units increased 29% in dollars and 10% in units, compared to FY 2014's fourth-quarter-end backlog of $2.72 billion and 3,679 units.
  • The average price of homes in FY 2015's fourth-quarter-end backlog was $862,000, compared to $829,000 at FY 2015's third-quarter end and $739,000 at FY 2014's fourth-quarter end.
  • The Company ended FY 2015's fourth quarter with a net debt-to-capital ratio(1) of 39.5%, compared to 40.6% at 2015's third-quarter end and 41.1% at FY 2014's fourth-quarter end.
• Co issues in-line guidance for FY16, sees FY16 revs of $4.5-5.6 bln vs. $5.12 bln Capital IQ Consensus Estimate and is based on deliveries of between 5,600-6,600 homes at an average price of between $800-850K per home.
  • For the first five weeks of FY 2016, net signed contracts were up 21% in units, compared to the same period in FY 2015.