Toll Brothers reports EPS in-line, beats on revs; narrows FY16 revs guidance, in-line with consensus; lowers GM and other income guidance :
- Reports Q3 (Jul) earnings of $0.61 per share, in-line with the Capital IQ Consensus of $0.61; revenues rose 23.5% year/year to $1.27 bln vs the $1.25 bln Capital IQ Consensus.
- Net signed contracts of $1.45 billion and 1,748 units rose 18% in dollars and units, compared to FY 2015's third quarter. The average price of net signed contracts was $831,000, compared to $834,000 in FY 2015's third quarter.
- Backlog of $4.37 billion and 5,181 units rose 19% in dollars and 17% in units, compared to FY 2015's third-quarter-end backlog. At FY 2016's third-quarter end, the average price of homes in backlog was $844,000, compared to $829,000 at FY 2015's third-quarter end.
- Co issues in-line guidance for FY16, sees FY16 revs of $4.96-5.27 bln vs. $5.04 bln Capital IQ Consensus Estimate and compared to prior guidance of $4.76-5.36 bln
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