Toll Brothers posts $411M fourth quarter profit

New York /
Dec.December 04, 2012 11:00 AM

Building off recent momentum, Pennsylvania-based builder Toll Brothers saw a $411.1 million profit in the fourth quarter, up a whopping 2,641 percent over the same period in 2011, HousingWire reported. The gain comes as new home contract signings soared year-over-year and the company nabbed a one-time tax benefit to the tune of $350 million.

The fourth quarter profit this year marks a significant jump from last year. The company last year posted a $15 million profit in the fourth quarter. There was also an increase in the amount of homes built in the fourth quarter — a total of 1,088, up 44 percent year-over-year. And with that comes contracts signed, which also saw a year-over-year gain of 75 percent, worth a total of $684.1 million.

The fiscal year brought the company a total profit of $487.1 million — a jump from last year’s net profit of $39.8 million. The difference is due primarily to the tax benefit, HousingWire said. The company also built a total of 3,286 homes in the fiscal year. [HousingWire]Zachary Kussin


Related Articles

arrow_forward_ios
(iStock)
Brooklyn construction union boss convicted in bribery scheme
Brooklyn construction union boss convicted in bribery scheme
Building Trades Employers’ Association CEO Lou Colletti and City Planning Commissioner Chair Marisa Lago (iStock)
City bill would force general contractors to get licensed
City bill would force general contractors to get licensed
Workers at the location, 526 Gulf Avenue in Staten Island, are being told that they do not have to wear masks in areas not monitored by cameras. (Google Maps, iStock)
“Save us, Jeff Bezos!” Worker says Amazon contractor shuns Covid safety
“Save us, Jeff Bezos!” Worker says Amazon contractor shuns Covid safety
Housing starts soared in March, which is good news for a residential market hampered by low inventory and high demand. (iStock)
Good news: March housing starts soar 19%
Good news: March housing starts soar 19%
The gains accounted for nearly a third of overall job growth. (iStock)
Construction, leisure & hospitality jobs rebounded in March
Construction, leisure & hospitality jobs rebounded in March
Bad weather was a factor in February's decrease in construction spending. (Getty)
Construction spending fell slightly in February
Construction spending fell slightly in February
Veev CEO Amit Hallar (Veet, iStock)
Modular housing startup Veev raises $100M to build homes faster, cheaper
Modular housing startup Veev raises $100M to build homes faster, cheaper
Bolivar Development's Peter Fine and 401 West 218 Street. (Google Maps)
10 biggest new project filings in NYC
10 biggest new project filings in NYC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...