Toll Brothers, Inc. (NYSE:TOL) stock took a hit today following the report of an earnings miss for its fiscal fourth quarter of 2017.
Earnings per share reported by Toll Brothers, Inc. for the fiscal fourth quarter of 2017 was $1.17. This is an increase over its earnings per share of 67 cents from the same time last year. However, it wasn’t good news for TOL stock by coming in below Wall Street’s earnings per share estimate of $1.19 for the period.
Toll Brothers, Inc. reported net income of $191.88 million in its fiscal fourth quarter of the year. The real estate company reported net income of $114.38 million during its fiscal fourth quarter of the previous year.
Revenue of $2.03 billion in the fiscal fourth quarter of 2017 also wasn’t good news for Toll Brothers, Inc., despite it being up from the $1.86 billion reported in the same period of the year prior. This is because it came in below analysts’ revenue estimate of $2.08 billion for the quarter.
Toll Brothers, Inc. notes that cancellation rates in its fiscal fourth quarter of the year were 2.7%. This is an increase over its cancellation rates of 1.7% from the same quarter of the previous year. Cancellation rates for the fiscal full year of 2017 were 7.9%, which is higher than the 4.9% from fiscal 2016.
Toll Brothers, Inc. reported fiscal full year earnings per share of $3.17 on revenue of $5.82 billion in its most recent earnings report. Wall Street was looking for earnings per share of $3.19 on revenue of $5.87 for the fiscal full year of 2017.
TOL stock was down 6% as of noon Tuesday, but is up 62% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.