Luxury Builder Shrugs Off Lumber Surge With $875,500 Homes
- Company pushes up home prices at a time of frenzied demand
- Toll is positioned to capitalize on rush to lower-cost states
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Luxury-home builder Toll Brothers Inc. is riding the U.S. housing frenzy to record heights. Forget worries about soaring lumber costs. Price increases are covering them, and then some.
After a quarter in which it beat its own forecasts on every metric, Toll boosted its guidance and projected profit margins that will expand this year and improve further in 2022. The shares rose as much as 5.3% Wednesday. The stock has gained almost 50% this year.