The Real Deal Miami

Toll Brothers reports third-quarter loss

August 27, 2009 09:01AM

alternate textToll Brothers CEO Robert Toll

Toll Brothers, the country’s largest luxury home builder, reported its eighth consecutive quarterly loss today. The company’s net loss grew to $472.3 million, or $2.93 per share, up from $29.3 million a year ago. Revenue fell to $461.4 million, a 42 percent drop year-over-year. Analysts had predicted that the company would report a loss of $1.28 per share in the third quarter. Sales of newly constructed homes are expected to fall to their lowest point since 1963, when the National Association of Realtors began tracking data.