Toll Brothers, Inc. reported Q1 FY2026 results with net income of $210.9 million ($2.19 per diluted share) on $1.85 billion in home sales revenues. The company also announced the substantial completion of the sale of approximately half of its Apartment Living portfolio for net cash proceeds of approximately $330 million and provided guidance for Q2 and FY2026.
Key takeaways
Q1 FY2026 net income was $210.9 million, or $2.19 per diluted share, compared to $177.7 million, or $1.75 per diluted share, in the same quarter last year.
Home sales revenues were $1.85 billion on 1,899 deliveries, with an adjusted home sales gross margin of 26.5%.
Net signed contract value was $2.38 billion (2,303 homes), with a quarter-end backlog value of $6.02 billion (5,051 homes).
The company completed the sale of approximately half of its Apartment Living portfolio to Kennedy Wilson for net cash proceeds of approximately $330 million.
Full Year FY2026 guidance projects deliveries of 10,300–10,700 units and an adjusted home sales gross margin of 26.0%.
The company repurchased approximately 0.3 million shares for $50.5 million and paid a quarterly dividend of $0.25 per share.