Pursuits
Toll Brothers Quarterly Sales Jump as Housing Recovers
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Toll Brothers Inc., the largest U.S. luxury-home builder, reported a jump in quarterly sales and orders as prices climbed in a rebounding U.S. housing market.
Revenue for the three months through July increased 24 percent to $689.2 million, the Horsham, Pennsylvania-based company said today in a statement. Orders rose 26 percent to 1,405 homes, exceeding analysts’ estimate for 24 percent growth, Adam Rudiger, an analyst at Wells Fargo & Co., wrote in a note.