Toll Brothers Quarterly Profit Falls Short Of Expectations

Luxury-home builder Toll Brothers Inc. on Tuesday reported quarterly profit that missed Wall Street's expectations. Fiscal fourth-quarter earnings were $147.2 million, or 80 cents a share, compared with $131.5 million, or 71 cents a share, a year ago. Revenue rose to $1.44 billion from $1.35 billion in the year-earlier period. Analysts polled by FactSet had been looking for per-share earnings of 84 cents on revenue of $1.43 billion. Toll Brothers said it expects revenue to come in between $4.5 billion and $5.6 billion in fiscal 2016. It also foresees deliveries of 5,600 to 6,600 houses at an average price of $800,000 and $850,000 each during fiscal 2016.