Welcome to our dedicated page for Toll Brothers news (Ticker: TOL), a resource for investors and traders seeking the latest updates and insights on Toll Brothers stock.
Toll Brothers, Inc. builds luxury homes and residential communities across U.S. markets. News about TOL commonly covers new community openings, model-home grand openings, final sales opportunities, and planned collections of single-family homes, townhomes, and condominiums in regional markets such as Florida, Georgia, California, Texas, and Connecticut.
The company’s recurring updates also describe home designs, community amenities, buyer categories, and related operations in architecture, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing. Earnings announcements and conference-call notices add periodic reporting on home sales, deliveries, contracts, backlog, margins, and other homebuilding operating measures.
Toll Brothers has entered a multi-year exclusive agreement with SunPower to be the sole provider of solar technology in Toll Brothers homes throughout California. This partnership includes preferred rates and expands solar storage solutions with SunPower’s SunVault system. Nearly all new homes will feature the SunPower Equinox solar system, enhancing energy efficiency and offering backup power options. The agreement also establishes a framework for future expansion into additional markets, aligning with Toll Brothers’ commitment to sustainability.
Toll Brothers has announced a significant management restructuring. Robert Parahus has been promoted to President and Chief Operating Officer, effective November 1, 2021, overseeing homebuilding operations in 24 states. Karl Mistry and Seth J. Ring have been promoted to Executive Vice President, responsible for East and West operations, respectively. This succession plan was initiated in 2019 and aims to strengthen leadership while preparing the company for future growth in luxury homebuilding.
Toll Brothers has launched its Ridge at Hillcrest community in Porter Ranch, offering the only single-story home designs in the area. The community features 40 estate-sized home sites with prices starting at $1.9 million, ranging from 3,900 to 5,000+ sq. ft.. Twelve model homes have been released, showcasing high-end upgrades and designer features. Ridge at Hillcrest provides access to local amenities, top-ranked schools, and the future 50-acre Porter Ranch community park, with no Mello Roos and low property tax rates.
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Toll Brothers, Inc. (NYSE:TOL) reported strong third quarter results for FY 2021, with net income rising to $234.9 million, or $1.87 per share, compared to $114.8 million, or $0.90 per share in FY 2020. Home sales revenues increased by 37% to $2.23 billion, with a record net signed contract value of $2.98 billion. Backlog value reached $9.44 billion, up 55% year-over-year. The company expects continued strong demand driven by favorable market conditions and an increase in community count projections for FY 2022. Adjusted home sales gross margin improved to 25.6% from 23.9%.
Toll Brothers (NYSE: TOL) and Equity Residential (NYSE: EQR) have formed a strategic partnership to develop rental apartment communities in key U.S. markets, including Atlanta, Boston, and Seattle. Equity Residential will provide 75% of the equity for projects, while Toll Brothers will contribute 25%. The partnership aims for a minimum co-investment of $750M, with initial projects costing approximately $242M. Toll Brothers will manage these developments, enhancing capital efficiency, while Equity Residential will gain management fees and the option to acquire properties at stabilization.
Toll Brothers has launched its latest luxury community, Toll Brothers at Bella Collina, located in Montverde, Florida. This upscale estate collection features one- and two-story homes ranging from 4,296 to over 7,000 square feet, with prices starting at $1.1 million. The community is set in a scenic area, just 30 minutes from Orlando, and includes exclusive amenities such as a golf course and a large clubhouse. The model home is expected to begin construction soon, showcasing the high-end lifestyle offered by this new development.
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Toll Brothers has acquired StoryBook Homes, a Las Vegas-based homebuilder, enhancing its presence in the local housing market. This acquisition, which involves an undisclosed financial arrangement, adds over 550 lots and strengthens Toll Brothers' offerings for first-time and move-up buyers, with prices between $200,000 and $600,000. StoryBook's operations will continue under its brand, led by current President Janet Love. Toll Brothers operates 16 luxury home communities in Las Vegas, with prices ranging from $400,000 to $1.3 million.