Toll Brothers reported revenue that was close to analysts’ expectations. Its earnings topped estimates.
For the fiscal 2021 third quarter, ended July 31, the homebuilding company's revenue came in at $2.26 billion, up from $1.65 billion last year. Analysts polled by FactSet expected $2.25 billion.
Net income in the quarter was $234.9 million, or $1.87 per share, in the latest quarter, compared to $114.8 million, or $0.90 per share in the year-ago quarter. Analysts expected $1.54 a share.
On Tuesday, Toll Brothers and Equity Residential, a company focused on the acquisition, development and management of residential rental properties, announced a strategic partnership to develop new rental apartment communities in key U.S. markets.