Toll Brothers Inc (NYSE: TOL ) stock was hit hard on Tuesday following the release of its earnings report for its fiscal second quarter of 2018.
During its fiscal second quarter of the year, Toll Brothers Inc reported earnings per share of 72 cents. This is down from its earnings per share of 73 cents reported in the same period of the year prior. It also was bad news for TOL stock by coming in below Wall Street's earnings per share estimate of 76 cents for the quarter.
Toll Brothers Inc's net income reported during its fiscal second quarter of 2018 was $111.81 million. This is a drop from the $124.64 million that was reported in the company's fiscal second quarter of 2018.
Operating income reported by Toll Brothers Inc for its fiscal second quarter of the year came in at $134.39 million. This is a decrease from its operating income of $139.32 million that was reported for the same time last year.
Toll Brothers Inc also reported revenue of $1.60 billion for its fiscal second quarter of 2018. This is an increase over the company's revenue of $1.36 billion that was reported in the fiscal second quarter of the previous year. It also beat out analysts' revenue estimate of $1.58 billion for the period.
Toll Brothers Inc says that it is expecting deliveries for its fiscal full year of 2018 to come in between 8,000 and 8,500 units. It is expecting an average price ranging from $830,000 and $860,000 for these units.
TOL stock was down 7% as of Tuesday afternoon.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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