Toll Brothers’ 2Q Results Reflect Strong Spring Selling Season
Toll Brothers reported strong second-quarter results as the no-moat homebuilder capitalized on what CEO Doug Yearley described as the firm’s best spring selling season in over 10 years. Indeed, home deliveries and new contracts signed during the quarter both increased by about 26% from the year-ago quarter. Total sales grew 22% year over year to $1.364 billion (versus $1.259 billion consensus) and EPS increased $0.22, to $0.73 (versus $0.62 consensus). We are increasing our fair value estimate t...Toll Brothers designs, builds, markets, sells, and arranges financing for residential single-family detached, attached home, master planned resort-style golf, and urban communities. The company also designs, builds, markets, and sells urban condominiums through Toll Brothers City Living?. The company operates its own architectural, engineering, mortgage, title, land development, golf course development, and landscaping subsidiaries. The company also operates its own security company, TBI Smart Home Solutions, which provides homeowners with home automation and technology options. In addition, the company operates its own lumber distribution, house component assembly, and manufacturing operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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