Record Second Quarter Home Sales Revenue
Toll Brothers delivered 2,899 homes at an average price of approximately $934,000, generating record second quarter home sales revenue of $2.71 billion, which was $236 million better than the midpoint of their guidance.
Strong Adjusted Gross Margin
The company posted an adjusted gross margin of 27.5%, which was 25 basis points better than guidance.
Low Contract Cancellation Rate
The contract cancellation rate was 2.8%, highlighting the financial strength of Toll Brothers' customer base.
Increased Share Repurchases
Due to a strong financial position, Toll Brothers increased their projected share repurchases in fiscal 2025 from $500 million to $600 million.
Strong Liquidity Position
The company ended the quarter with $686 million in cash and a net debt-to-capital ratio of 19.8%.