News Summary

• Toll Brothers signed $2.52 billion in net contracts during the quarter, covering 2,508 homes.
• Cancellations fell to 2.6% of beginning backlog, from 3.2% a year earlier.
• Full-year guidance held steady at roughly $10.5 billion in home sales revenue and a 26.1% adjusted gross margin.
• The stock trades at a forward price-to-earnings ratio of 10.45, a multiple of the growth story is still pointing to.