Toll Brothers Inc

TOL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$451.00	Kylf	Brcjtcr

Toll Brothers Earnings: Firm Raises Full-Year Guidance After Strong Q3 Performance

Brian Bernard

Aug 21, 2024

We’ve raised our fair value estimate for Toll Brothers by 12% to $120 per share following the firm’s fiscal third-quarter earnings release. Strong year-to-date financial performance caused upward revisions to our fiscal 2024-25 revenue and profit-margin expectations. However, we have also become more confident in management’s ability to operate with leaner selling, general, and administrative expense spending and a more capital efficient land acquisition and production strategy.

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