Luxury home builder Toll Brothers today reported record third-quarter earnings for the fiscal period ending July 31.

The company’s third-quarter net income of $215.5 million was the highest for any quarter in its history. Net income grew 103 percent from the same period a year ago. Earnings per share was $1.27, up 92 percent from the same period last year.

Quarterly revenues were a record $1.56 billion, up 54 percent from 2004, the company said. Third-quarter home-building revenues totaled $1.54 billion, for 2,310 homes, and revenues from land sales totaled $10.6 million.

The company’s third-quarter contracts of $1.92 billion (2,746 homes) grew 19 percent from the same period last year.

Robert I. Toll, chairman and chief executive officer, attributed the record results to the company’s strong land position and pricing power in its affluent markets. “While the supply of buildable lots seems increasingly to be constrained by governmental regulation, demographics-driven demand continues to grow,” he said.

Toll said the company is on track for a 13th consecutive year of record earnings.

“In recent weeks, it appears that bubble mania and reports of a strengthening employment picture with associated interest rate fears have rattled investors. We believe strong job numbers and an improving economy are positive factors for the housing industry, in general, and our luxury niche in particular,” toll said.

Toll Brothers serves move-up, empty-nester, active-adult and second-home home buyers and operates in 20 states.

Toll Brothers shares (NYSE:TOL) traded at $49.51 a share this morning.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 133.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription