Toll Brothers Posts Decline In Quarterly Earnings, But Orders Rise

Toll Brothers Inc. on Tuesday reported quarterly earnings and sales results that came in below Wall Street's estimates. The luxury homes builder said fiscal third-quarter earnings were $66.7 million, or 36 cents a share, down from $97.7 million, or 53 cents a share, a year ago. Revenue came in at $1.03 billion compared with $1.06 billion in the year-earlier period. Analysts polled by FactSet had expected per-share earnings of 49 cents a share on revenue of $1.04 billion. Net orders for the third quarter rose 12% to 1,479 units.