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February 25, 2014
14:32 EDTTOLToll Brothers says to date in Q2, contracts in units down about 8%
Management said, "Through the first three and-a-half weeks of our second quarter, our contracts in units were down about 8%. During this time, traffic has actually been up about 8% per community, which is encouraging, especially given the weather in many of our markets." They noted that demand has leveled more recently against some very strong prior year comparisons. Despite that, they remain optimistic on the spring selling season based on solid affordability, attractive interest rates, and growing pent-up demand. They continue to be encouraged by the strength of the coastal California markets. They expect growth in California as well as significant expansion in Texas to further diversify the company and spur growth as they move forward. For FY14, the company expects a 175bps-200bps improvement in gross margin over FY13 levels, with the most significant improvements occurring in Q3 and Q4. Full year 2014, SG&A is still anticipated to be up 25% over full year 2013. Comments from company's Q1 earnings conference call.
News For TOL From The Last 14 Days
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November 26, 2014
14:40 EDTTOLToll Brothers volatility low into Q4 and outlook
Toll Brothers December weekly call option implied volatility is at 20, December, January and, March is at 24; compared to its 26-week average of 26 according to Track Data, suggesting decreasing price movement into the expected release of Q4 results on December 10.
November 13, 2014
07:18 EDTTOLUBS to hold a conference
Building & Building Products Annual CEO Conference is being held in New York on November 13 with webcasted company presentations to begin at 9:30 am; not all company presentations may be webcasted. Webcast Link

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