Toll Brothers Surges Most Since 2011 on Gain in Home Orders

August 21, 2018
Prashant Gopal - Bloomberg

Toll Brothers Inc. surged after the biggest U.S. luxury-home builder reported rising orders, revenue and backlog, a sign to investors that wealthy buyers are feeling confident enough to make purchases despite talk of a housing slowdown.

The company reported a 27 percent increase in quarterly revenue and an 18 percent gain in signed contracts per Toll housing community. The value of the builder’s backlog at the end of last month was $6.48 billion, up 22 percent and “the highest at third-quarter end in a dozen years,” Toll Chief Financial Officer Marty Connor said in a statement.



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