Toll Brothers, Inc (TOL) has reported 5.21 percent rise in profit for the quarter ended Oct. 31, 2016. The company has earned $382.10 million, or $2.18 a share in the quarter, compared with $363.17 million, or $1.97 a share for the same period last year. Revenue during the quarter grew 23.93 percent to $5,169.51 million from $4,171.25 million in the previous year period.
Cost of revenue rose 26.76 percent or $874.79 million during the quarter to $4,144.06 million. Gross margin for the quarter contracted 179 basis points over the previous year period to 19.84 percent.
Total expenses were $4,679.45 million for the quarter, up 25.64 percent or $955.07 million from year-ago period. Operating margin for the quarter contracted 123 basis points over the previous year period to 9.48 percent.
Operating income for the quarter was $490.06 million, compared with $446.87 million in the previous year period.
Douglas C. Yearley, Jr., Toll Brothers’ chief executive officer, stated: “With our strong fourth quarter operating performance, double digit increase in year-end backlog, and positive sales trends to jump start our new fiscal year, we see growth in revenues and earnings and an improvement in return on equity in FY 2017.
Total assets grew 5.76 percent or $530.27 million to $9,736.79 million on Oct. 31, 2016. On the other hand, total liabilities were at $5,501.59 million as on Oct. 31, 2016, up 10.51 percent or $523.15 million from year-ago.
Return on assets moved down 2 basis points to 3.92 percent in the quarter. At the same time, return on equity moved up 43 basis points to 9.02 percent in the quarter.
Shareholders equity was almost stable over the past one year at $4,235.20 million on Oct. 31, 2016.
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