Thursday, February 21, 2013

Toll results disappoint Wall Street

Homebuilder Toll Brothers Inc., of Horsham, said net income for the quarter ended Jan. 31 was $4.4 million, or 3 cents a share, compared with a loss of $2.8 million, or 2 cents, a year earlier. Analysts had expected earnings of 10 cents a share, according to data compiled by Bloomberg, and Toll shares fell 9 percent to close at $33.56. Revenue for the quarter rose 32 percent to $424.6 million, compared with the average analyst estimate of $503.6 million. The company delivered 746 homes in the quarter, about 100 fewer than analysts projected, said Robert Wetenhall, an analyst at RBC Capital Markets L.L.C. - Bloomberg News

No comments:

Post a Comment