| Toll Brothers Fourth Quarter 2011 Numbers | ||
|---|---|---|
| Quarter Four | ||
| Profit/(Loss) | ($ 2.8M) -1% | |
| Home Deliveries | 564 -1% | |
| New Orders | 677 +17.5% | |
Behind the Numbers:
Toll Brothers turned in a loss for the last quarter of 2011 but saw a healthy hop in sales orders. The company netted 2.86 sales per community, the highest of any first quarter Toll has had in five years, but still well below its historical average of 4.82 sales per community per quarter. Toll also experienced a price pop beyond what other public builders reported. The average contract price of the builder’s luxury home products was up 45% to $682,000 thanks largely to a Manhattan Upper East Side condo project where the average sale price was $4.1 million. Minus that project, prices were still up 6%. It was also a big quarter for acquisitions with Toll moving into the Seattle market and spending $71 million to partner in another Manhattan development. It also settled a dispute related to the Inspirada development in Las Vegas for $57.6 million.
Toll Brothers’ first fiscal year quarter ended Dec. 31.
Learn more about markets featured in this article: New York, NY, Manhattan, KS.
