Toll Brothers beats by $0.24, beats on revs; Q4 deliveries in line with guidance; provides Q1 guidance for deliveries
- Reports Q4 (Oct) earnings of $2.08 per share, $0.24 better than the S&P Capital IQ Consensus of $1.84; revenues rose 21.1% year/year to $2.46 bln vs the $2.35 bln S&P Capital IQ Consensus.
- On a per-community basis, FY 2018's fourth-quarter net signed contracts were 5.6, compared to fourth-quarter totals of 6.3 in FY 2017, 5.8 units in FY 2016, and 5.2 in FY 2015; home building deliveries were 2,710, up 12% (versus guidance of 2550-2850); Gross margin was 21.4%.
- Q1 Guidance: Deliveries of between 1,350 and 1,550 units with an average price of between $850,000 and $880,000; Adjusted Gross Margin of approximately 23.5%.
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