Toll Brothers Sees FY24 EPS $13.25-$13.75 Vs $12.23 Est.
Portfolio Pulse from Benzinga Newsdesk
Toll Brothers has raised its FY24 EPS guidance to $13.25-$13.75, up from $12.23 estimated, following a strong first quarter and the start of the spring selling season. The company also sold a parcel of land for $180.7 million, expecting a pre-tax gain of $175 million in Q2. With over 70,400 lots owned or controlled, Toll Brothers anticipates increasing community count and significant cash flow in FY24, supporting further investment and shareholder returns. FY24 financial guidance includes 10,000 to 10,500 unit deliveries, an average home price of $940,000 to $960,000, and other income of $260 million.
February 20, 2024 | 9:39 pm
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Toll Brothers raises FY24 EPS guidance to $13.25-$13.75, indicating strong performance and strategic land sale. The company's solid balance sheet and significant cash flow projections support continued investment and shareholder returns.
The raised EPS guidance for FY24 by Toll Brothers reflects a positive outlook based on strong first quarter results and a profitable land sale. The company's robust financial position and the expectation of significant cash flow signal potential for continued growth and shareholder value enhancement. This news is likely to be viewed positively by investors, potentially leading to a short-term uptick in TOL's stock price.
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