Toll Brothers reports Q1 EPS $2.19, consensus $2.11

Reports Q1 revenue $2.146B, consensus $1.86B. Douglas Yearley, Jr., chairman and chief executive officer, stated: “We are pleased with our first quarter results, as we met or exceeded guidance across nearly all metrics. We delivered 1,899 homes at an average price of $977,000, generating home sales revenues of $1.85 billion. Our adjusted gross margin was 26.5% in the quarter, 25 basis points better than guidance, and our SG&A expense, as a percentage of homebuilding revenues, was 13.9%, 30 basis points better than guidance. As a result, we earned $2.19 per diluted share in the quarter, a 25% increase compared to the first quarter of fiscal 2025. In addition, we signed 2,303 net contracts for $2.4 billion in the quarter, flat in units but up 3% in dollars year-over-year as our average sales price increased to $1,033,000.