On Wednesday, in the course of afternoon trade, Shares of Toll Brothers Inc (NYSE:TOL), dropped -1.20%, and is now trading at $34.67.
Toll Brothers, declared results for its third quarter and nine months ended July 31, 2015.
FY 2015 Third Quarter Financial Highlights:
- FY 2015’s third-quarter net income was $66.7 million, or $0.36 per share diluted, contrast to net income of $97.7 million, or $0.53 per share diluted, in FY 2014’s third quarter.
- Pre-tax income was $107.5 million, contrast to pre-tax income of $151.3 million in FY 2014’s third quarter. Comprised of in FY 2015’s third-quarter cost of sales were impairments of $18.0 million and a $4.9 million net enhance in reserves, contrast to impairments of $6.0 million and a reserve reversal of $7.0 million in FY 2014’s third quarter.
- Revenues of $1.03 billion and home building deliveries of 1,419 units declined 3% in dollars and 2% in units, contrast to FY 2014’s third quarter. The average price of homes delivered was $724,000, contrast to $732,000 in FY 2014’s third quarter.
- Net signed contracts of $1.23 billion and 1,479 units rose 30% in dollars and 12% in units, contrast to FY 2014’s third quarter. The average price of net signed contracts was $834,000, the highest quarterly average in the Company’s history, contrast to $717,000 in FY 2014’s third quarter, driven by an improvement in the number and average price of California contracts.
- For the first four weeks of August, the start of the Company’s FY 2015 fourth quarter, net contracts was up 16% in units contrast to the same period in FY 2014.
- Backlog of $3.69 billion and 4,447 units rose 19% in dollars and 6% in units, contrast to FY 2014’s third-quarter-end backlog. This was the highest backlog for any quarter-end in eight years, dating back to FY 2007’s second-quarter end. At FY 2015’s third-quarter end, the average price of homes in backlog was $829,000, contrast to $737,000 at FY 2014’s third-quarter end. This was the first time that the Company’s average price in backlog at quarter end exceeded $800,000.
- Gross margin was 19.8% in FY 2015’s third quarter, contrast to 22.7% in FY 2014’s third quarter. Not taking into account interest, impairments and changes in reserves, FY 2015’s third-quarter gross margin was 25.6%, contrast to 26.1% in FY 2014’s third quarter.
- SG&A as a percentage of revenue was 11.3%, contrast to 10.4% in FY 2014’s third quarter.
- Income from operations was 8.5% of revenue, contrast to 12.3% of revenue in FY 2014’s third quarter.
- Other income and Income from unmerged entities totaled $20.0 million, contrast to $21.7 million in FY 2014’s third quarter.
- At FY 2015’s third-quarter end, the Company had about 45,400 lots owned and optioned, contrast to about 45,000 one quarter earlier and 49,000 one year ago.
- The Company ended its third quarter with 267 selling communities, contrast to 269 at FY 2015’s second-quarter end, and 256 at FY 2014’s third-quarter end. The Company anticipates ending FY 2015 with between 270 and 285 selling communities.
- The Company anticipates FY 2015 fourth quarter deliveries of between 1,645 and 1,945 units with an average price of between $780,000 and $800,000. This range results in projected full FY 2015 deliveries of between 5,350 and 5,650 units with an average delivered price of between $745,000 and $760,000.
- The Company anticipates its FY 2015 fourth quarter gross margin, not taking into account interest, impairments, and changes in reserves, to be about 26.7%, resulting in a full FY 2015 gross margin projection, not taking into account interest, impairments and changes in reserves, of about 26.2%. This is 20 basis points higher than the previous FY 2015 full year guidance. The Company anticipates continued margin expansion in FY 2016.
Toll Brothers, Inc., together with its auxiliaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the Unites States. It is also involved in building and selling homes in urban infill markets.
During an Afternoon trade, Shares of Talen Energy Corporation (NYSE:TLN), dipped -2.29%, and is now trading at $2.29.
Talen Energy Corporation, stated this morning second quarter 2015 Adjusted EBITDA of $171 million, contrast with $126 million in the second quarter of 2014, and net income of $26 million, contrast with $13 million for the second quarter of 2014.
For the first six months of 2015, Adjusted EBITDA was $408 million, contrast with $361 million in the first six months of 2014, and net income was $122 million, contrast with a net loss of $53 million for the first six months of 2014.
“Strong operational performance from our nuclear and gas generation assets led to improved financial results in the quarter,” said Paul Farr, President, and Chief Executive Officer of Talen Energy.
Talen Energy Corporation operates as an independent power producer in the United States. It has a portfolio of carbon-free nuclear power, natural gas generation, and coal-fired generation assets.
Finally, Dillard’s, Inc. (NYSE:DDS), gained 1.07% Wednesday.
Dillard’s, declared operating results for the 13 weeks ended August 1, 2015. This release contains certain forward-looking statements. Please refer to the Company’s cautionary statements regarding forward-looking information comprised of below under “Forward-Looking Information.”
Second Quarter Results
Dillard’s stated net income for the 13 weeks ended August 1, 2015 of $29.9 million, or $0.75 per share, contrast to net income of $34.5 million, or $0.80 per share, for the preceding year second quarter.
Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “While we achieved positive comparable store sales, we were disappointed with our overall performance contrast to the preceding year. However, from our strong cash position, we returned $208 million to shareholders under our share repurchase program.”
Dillard’s, Inc. operates as fashion apparel, cosmetics, and home furnishing retailer in the United States. The company’s stores offer a selection of merchandise, counting fashion apparel for women, men, and children; accessories; cosmetics; home furnishings; and other consumer goods.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
