Toll Brothers, based in Fort Washington, recently released its Fiscal 2023 results which were solid despite a decline in year-over-year figures, writes Casey Martinez for Gillet News.
The company’s earnings per share of $4.11, which was higher than the Zacks Consensus Estimate by 12.3%. However, it also experienced a 12% decrease from the year before.
Toll Brothers total revenues, which included both home and land sales, ended up at $3.02 billion, an 18.6% decrease from 2022.
Toll Brothers CEO Doug Yearley said he is optimistic about the upcoming spring selling season. He explained that the combination of a decline in mortgage rates and the low resale inventories would be conducive to new home development.
The company projects that fiscal 2024 will be a year of continued growth with higher home deliveries.
Read more about the 2023 fiscal year results for Toll Brothers at Gillet News.
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