Toll Brothers (NYSE:TOL) stock was flying high on Tuesday following the release of its earnings report for its fiscal third quarter of 2018.
Toll Brothers earnings report for its fiscal third quarter of the year includes earnings per share of $1.26. This is an increase over the company’s earnings per share of 87 cents reported in the same period of the year prior. It was also a blessing to TOL stock by beating out Wall Street’s earnings per share estimate of $1.03 for the quarter.
Toll Brothers also reported net income of $193.26 million for its fiscal third quarter of 2018. The company’s net income from its fiscal third quarter of 2017 was $148.56 million.
During its fiscal third quarter of the year, Toll Brothers reported operating income of $229.66 million. This is better than the company’s operating income of $172.23 million that was reported during the same time last year.
Revenue reported by Toll Brothers for its fiscal third quarter of 2018 came in at $1.91 billion. This is up from the home construction company’s revenue of $1.50 million reported in its fiscal third quarter for the previous year. It also comes in above analysts’ revenue estimate of $1.18 billion for the quarter, making it a boon to TOL stock.
Toll Brothers notes that it is expecting to deliver between 2,550 units and 2,850 units during its fiscal fourth quarter of 2018. This will have it delivering a total of 8,100 units to 8,400 units in fiscal 2018. The company is expecting the average price for these units to range from $835,000 and $860,000.
TOL stock was up 10% as of Tuesday morning, but is down 28% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.