Toll Brothers, Inc., the nation’s leading builder of luxury homes, has had a good 2024 first quarter, according to a recent release from the homebuilder.

Home sales revenues were $1.93 billion, up 10 percent, compared to FY 2023’s first quarter.

Delivered homes were 1,927, up 6 percent.

Net income and earnings per share were $239.6 million and $2.25 per diluted share as of Jan. 31, 2023, compared to a net income of $191.5 million and $1.70 per diluted share in FY 2023’s first quarter.

“We experienced another quarter of solid demand,” said Douglas C. Yearley, Jr., chairman and chief executive officer.

Toll Brothers delivered 1,927 homes at an average price of about $1 million.

A combination of top line growth and greater operating efficiency led to earnings of $2.25 per diluted share in the quarter, a 32 percent increase over last year’s first quarter, Yearley said.

“Since mid-January, we have seen a marked increase in demand coinciding with the start of the spring selling season. With a healthy job market, improving consumer sentiment, and continued low levels of resale inventory, we are optimistic that demand for new homes will remain strong in 2024,” Yearley said.

Read details of Toll Brothers 2024 first quarter earnings at Toll Brothers.