Pursuits
Toll Brothers Profit Beats Estimates as Home Orders Surge
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Toll Brothers Inc., the largest U.S. luxury-home builder, rose in New York trading after reporting the most orders since 2006 and profit that beat estimates.
Net income for the three months through April was $24.7 million, or 14 cents a share, compared with $16.9 million, or 10 cents, a year earlier, the Horsham, Pennsylvania-based company said today in a statement. The average of 14 analyst estimates was for earnings of 7 cents a share, according to data compiled by Bloomberg. The fiscal second-quarter results included a $13.2 million pretax gain tied to the settlement of litigation.