Toll Brothers, Inc. (TOL) has reported a 39.96 percent jump in profit for the quarter ended Apr. 30, 2017. The company has earned $124.64 million, or $0.73 a share in the quarter, compared with $89.05 million, or $0.51 a share for the same period last year.
Revenue during the quarter grew 22.23 percent to $1,363.51 million from $1,115.56 million in the previous year period.
Cost of revenue rose 23.76 percent or $206.87 million during the quarter to $1,077.44 million. Gross margin for the quarter contracted 98 basis points over the previous year period to 20.98 percent.
Total expenses were $1,225.32 million for the quarter, up 22.67 percent or $226.41 million from year-ago period. Operating margin for the quarter contracted 32 basis points over the previous year period to 10.14 percent.
Operating income for the quarter was $138.20 million, compared with $116.65 million in the previous year period.
Toll Brothers, Inc. projects revenue to be in the range of $5,400 million to $6,100 million for financial year 2017.
Douglas C. Yearley, Jr., Toll Brothers’ chief executive officer, stated: "Solid and improving demand and the financial strength of our affluent buyer base are driving our growth. Second-quarter net income grew 40%, revenues increased 22% in dollars and deliveries increased 26% in units, and contracts rose 23% in dollars and 26% in units, compared to the second quarter of FY 2016. This was our eleventh consecutive quarter of year-over-year growth in contract dollars and units, highlighted by double digit increases in each of the past four quarters."
Total assets stood at $9,866.96million as on Apr. 30, 2017. On the other hand, total liabilities were at $5,412.97 million as on Apr. 30, 2017.
Return on assets was at 1.26 percent in the quarter. At the same time, return on equity was at 2.80 percent in the quarter.
Total debt was at $3,692.94 million as on Apr. 30, 2017. Shareholders equity was at $4,454 million as on Apr. 30, 2017. Meanwhile, debt to equity ratio was at 0.83 percent in the quarter.
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