Luxury builder Toll swings to a quarterly profit

Discussion in 'Stocks' started by ASusilovic, Aug 25, 2010.

  1. BOSTON (MarketWatch) -- Toll Brothers Inc. said early Wednesday that it swung to fiscal third-quarter profit as the home builder was helped by a tax gain.

    For the quarter ended July 31, Toll earned $27.3 million, or 16 cents a share, compared with a loss of $472.3 million, or $2.93 a share, in the year-earlier period. Revenue declined to $454.2 million from $461.4 million.

    Toll said the latest quarter's results included a tax benefit of $26.5 million.

    On average, analysts surveyed by FactSet Research expected the company to report a loss of 14 cents a share on revenue of $392.9 million.

    Shares of Toll rose 2.8% in premarket action.

    Price question : So, what has Toll brothers to do with macro data like new home sales and existing home sales ?