TOL Toll Brothers (TOL) Q2 FY26 earnings call
Toll Brothers demonstrated resilience in a challenging market, leveraging its luxury positioning and operational discipline to exceed Q2 expectations and raise full-year guidance. Strategic community count growth and the Buffington Homes acquisition underscore a focus on expanding market presence, while a healthy balance sheet supports continued capital returns and investment in future growth.
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TOL operating KPIs by quarter
| KPI | This call Apr 2026 Q2 FY26 | Jul 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|
| Homes delivered | 2,491In the quarter, we delivered 2,491 homes at an average price of $1,009,000, generating $2.5 billion of homebuilding revenue or approximately $110 million above the midpoint of our guidance.Source: earnings call transcript | 2,662We delivered 2,662 homes and generated $2.6 billion of home sales revenue, exceeding the midpoint of our guidance in both units and dollars.Source: earnings call transcript | +6.9% |
| Average delivered price | $1.009MIn the quarter, we delivered 2,491 homes at an average price of $1,009,000, generating $2.5 billion of homebuilding revenue or approximately $110 million above the midpoint of our guidance.Source: earnings call transcript | ~$996KThe average delivered price of homes in the quarter was approximately $996,000, above the high end of our guidance range and driven primarily by mix, including a greater-than-expected proportion of luxury move-up and Pacific deliveries.Source: earnings call transcript | — |
| Net signed contracts | 2,834In addition, we signed 2,834 net agreements in the quarter, for [ $2.8 billion ], up 7% in units and 8% in dollars.Source: earnings call transcript | 2,508We signed 2,508 net agreements in the quarter for $2.5 billion, up 5% in units and 4% in dollars.Source: earnings call transcript | -11.5% |
| Selling communities | 459At quarter end, we were selling from 459 communities versus 421 1 year earlier and 386 just 2 years ago.Source: earnings call transcript | 471At quarter end, we were selling from 471 communities versus 420 at the end of the third quarter of fiscal 2025.Source: earnings call transcript | +2.6% |
| Average price of contracts signed | $990.6KThe average price of contracts signed in the quarter was approximately [ $990,600 ], up 1% compared to the second quarter of fiscal 2025.Source: earnings call transcript | ~$1.003MThe average price of contracts signed in the quarter was approximately $1.003 million versus $1.03 million in the third quarter of fiscal 2025.Source: earnings call transcript | — |
| Cancellation rate as a percentage of beginning quarter backlog | 2.9%Our cancellation rate was 2.9% of beginning quarter backlog as compared to 2.8% in the prior year period.Source: earnings call transcript | 2.6%Our cancellation rate was 2.6% of beginning quarter backlog as compared to 3.2% in the prior year period.Source: earnings call transcript | -0.3 pt |
| Cancellation rate as a percentage of signed contracts | 4.8%As a percentage of signed contracts in the second quarter cancellation rate was 4.8% versus 6.2% in last year's second quarter.Source: earnings call transcript | 5.4%As a percentage of signed contracts in the third quarter, cancellation rate was 5.4% versus 7.5% in last year's third quarter.Source: earnings call transcript | +0.6 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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