Pursuits
Toll Brothers Falls After Earnings Miss Analyst Estimates
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Toll Brothers Inc., the largest U.S. luxury-home builder, tumbled the most in four years after reporting fiscal first-quarter earnings that trailed analyst estimates and projecting narrower margins.
Net income for the quarter ended Jan. 31 was $4.4 million, or 3 cents a share, compared with a loss of $2.8 million, or 2 cents, a year earlier, the Horsham, Pennsylvania-based company said today in a statement. The average of 16 analyst estimates was for earnings of 10 cents a share, according to data compiled by Bloomberg.