Toll Brothers Inc (NYSE:TOL) stock rose 3.08% (As on May 21, 11:23:15 AM UTC-4, Source: Google Finance) after the company topped Wall Street’s estimates for quarterly earnings. The company’s net income stood at $352.4 million for the quarter ended April 30, compared with earnings of $481.6 million in the year-ago quarter, which included gains from a land parcel sale. U.S. new home sales, which account for roughly 15% of the market, had topped expectations in February and March due to falling mortgage rates. However, consumer sentiment dipped in April due to President Donald Trump’s tariff policy uncertainty. The Fort Washington, Pennsylvania-based company said its delivered home numbers rose 10% to 2,899 during the reported quarter, compared to a year earlier. The Company ended its FY 2025 second quarter with $686.5 million in cash and cash equivalents, compared to $1.30 billion at FYE 2024 and $574.8 million at FY 2025’s first quarter. At FY 2025 second quarter end, the Company also had $2.19 billion available under its $2.35 billion senior unsecured revolving credit facility.

Moreover, Home sales revenues were $2.71 billion, up 2% compared to FY 2024’s second quarter; delivered homes were 2,899, up 10%. Net signed contract value was $2.60 billion, down 11% compared to FY 2024’s second quarter; contracted homes were 2,650, down 13%. Backlog value was $6.84 billion at second quarter end, down 7% compared to FY 2024’s second quarter; homes in backlog were 6,063, down 15%.

The Company ended FY 2025’s second quarter with approximately 78,600 lots owned and optioned, compared to 77,700 one quarter earlier, and 71,800 one year earlier. Approximately 42% or 32,800, of these lots were owned, of which approximately 19,300 lots, including those in backlog, were substantially improved. In the second quarter of FY 2025, the Company spent approximately $723.0 million on land to purchase approximately 4,380 lots. The Company ended FY 2025’s second quarter with 421 selling communities, compared to 406 at FY 2025’s first quarter end and 386 at FY 2024’s second quarter end.

TOL in the second quarter of FY25 has reported the adjusted earnings per share of $3.50, beating the analysts’ estimates for the adjusted earnings per share of $2.86. The company had reported the adjusted revenue of $2.74 billion in the second quarter of FY25, beating the analysts’ estimates for revenue of $2.49 billion.

Toll Brothers reaffirmed its fiscal 2025 forecast of delivering 11,200 to 11,600 units at an average sales price of $945,000 to $965,000.