Toll Brothers, Inc. - TOL STOCK NEWS

Toll Brothers reported strong Q3 FY2024 results, with home sales revenues up 2% to $2.72 billion and delivered homes up 11% to 2,814 units. Net income was $374.6 million, or $3.60 per diluted share. The company's adjusted home sales gross margin was 28.8%, exceeding guidance. Net signed contracts increased 11% in both units and value. Based on Q3 performance, Toll Brothers raised full-year guidance across key metrics, expecting earnings between $14.50 and $14.75 per diluted share. The company repurchased $245.9 million of common stock in Q3 and increased expected FY2024 repurchases to $600 million. With a strong balance sheet and positive market outlook, Toll Brothers aims to grow its community count to 410 by fiscal year-end, representing 11% growth.

Toll Brothers (NYSE:TOL) is now offering quick move-in homes in Regency at Babcock Ranch, an active-adult 55+ community in southwest Florida. The community features three distinct collections of low-maintenance homes in Charlotte County, with prices starting from the mid-$300,000s.

Home designs include single-family and villa options with 2 to 4 bedrooms, 2 to 3 bathrooms, and indoor/outdoor living features. Residents can enjoy exclusive resort-style amenities such as a clubhouse, swimming pool, fitness center, and various sports facilities.

The community is part of the larger Babcock Ranch development, offering additional master-plan amenities. Five professionally decorated model homes are available for tours daily, providing potential buyers with a firsthand look at the luxurious Toll Brothers lifestyle.

Toll Brothers City Living and Sculptor Real Estate have completed construction of 151 Bay Street, a 34-story luxury condominium in Jersey City's Powerhouse Arts District. The building offers 259 units ranging from studios to three-bedrooms, with over 75% already sold. Designed by SLCE with interiors by Bernheimer Architecture, it features open-plan living areas, high-end finishes, and expansive amenities including a Sky Lounge, rooftop terrace, and fitness center.

The development is part of the Provost Square community, which includes a public plaza and performing arts theater. Located near the Grove Street PATH station, residents have easy access to Manhattan and local attractions. Prices for residences start in the low $800,000s. The project marks a significant addition to Jersey City's luxury real estate market, offering stunning views and high-quality living spaces in a prime location.

Toll Brothers (NYSE:TOL) has announced its newest luxury home community, Avonmore, coming soon to Ashburn, Virginia. This boutique enclave will feature 14 scenic home sites with modern designs ranging up to 5,200 square feet. Anticipated to open for sale in fall 2024, Avonmore will offer:

• Exceptional location with access to outdoor recreation, upscale shopping, and restaurants
• Flexible floor plans with options for personalization
• Features like front porches, open kitchens, and multi-generational living suites
• Proximity to Goose Creek Village, Broadlands Village Center, and major transportation routes

Homebuyers will have access to the Toll Brothers Design Studio for personalized selections. The community's development reflects Toll Brothers' commitment to providing luxury homes in desirable locations.

Toll Brothers Apartment Living, in partnership with Equity Residential, has opened Remy, a new 357-unit luxury apartment community in Frisco, Texas. Located at 5775 Blairview Street, Remy offers studio, one-, and two-bedroom residences with high-end features and finishes. The community boasts sophisticated amenities including a resort-style pool, sky lounge, fitness center, and coworking spaces.

Construction began in 2022, supported by a $55.6 million loan from Santander Bank. Remy's prime location near Frisco Square provides residents easy access to restaurants, shops, and green spaces. The project marks Toll Brothers' second opening with Equity Residential in Texas this year, demonstrating their commitment to developing luxury communities in growing areas.

Toll Brothers (NYSE:TOL), the leading luxury home builder in the U.S., has announced it will broadcast its third quarter 2024 earnings conference call on August 21, 2024, at 8:30 a.m. ET. The call, hosted by Chairman and CEO Douglas C. Yearley, Jr., will be accessible through the Investor Relations section of the company's website. Toll Brothers will release its Q3 FY 2024 results after market close on August 20, 2024. Investors and interested parties can join the live call and access the replay through the company's website, providing an opportunity to gain insights into Toll Brothers' financial performance and future outlook.

Toll Brothers (NYSE:TOL) has announced its newest luxury home community, Hill Street Villas, coming soon to North Myrtle Beach, South Carolina. The community will feature 35 home sites with two-story single-family homes, offering low-maintenance living near Cherry Grove Beach. Four luxury home designs will be available, ranging from 1,767 to 1,987+ square feet, with 3 to 4 bedrooms, 2.5 bathrooms, and a single-car garage. Prices start in the low $500,000s.

Located near Hill Street and 24th Avenue North, the community is close to golf courses, nature preserves, and parks. Sales are expected to begin in fall 2024. The homes will feature well-appointed kitchens, expansive primary bedroom suites, spacious living areas, and outdoor living options. Both move-in-ready and quick move-in homes with Designer Appointed Features will be available.

Toll Brothers (NYSE:TOL) has announced the final opportunity to purchase a new luxury home at its Easley community in Woodstock, Georgia. Only three homes remain available in this 84-home community, including one move-in ready home and two quick move-in homes available for early 2025 delivery. The homes feature 5 bedrooms, 4 to 5.5 baths, 2 or 3 stories, and 2-car garages with 3,239 to 3,392+ square feet of living space, priced starting in the upper $800,000s.

Easley offers a secluded, wooded setting with resort-style amenities including a swimming pool, cabana, and pond. Located within the highly rated River Ridge High School District, the community provides easy access to downtown Woodstock's shops, restaurants, and entertainment.

Toll Brothers Apartment Living, a division of Toll Brothers, Inc. (NYSE: TOL), has announced Gold's Gym as the first retail tenant for Vermeer, a luxury mixed-use multifamily community in Washington, D.C. The 19,817 sq. ft. Gold's Gym will be one of the largest retail users in the Buzzard Point neighborhood.

Vermeer, located at 113 Potomac Ave SW, will feature 501 apartment residences, upscale amenities, and approximately 37,000 square feet of ground-floor retail space. The 13-story building is set to open this winter, with Gold's Gym slated to open in early 2025.

The development aims to create a dynamic street-level experience along Potomac Avenue, connecting residents to restaurants, shopping, entertainment venues, and two major league sports stadiums. Vermeer will offer luxury amenities including a refined resident lounge, penthouse-level fitness center, rooftop pool, and breathtaking 360-degree views of Washington, D.C.