Toll reports smaller second-quarter net loss

Leading U.S. luxury home builder Toll Brothers reported a $40.4 million second-quarter loss today, representing a $0.24 loss per share. The report marks a narrower loss for Toll than seen in previous quarters — the company reported an $83.2 million loss in the same quarter a year earlier and a $40.8 million loss last quarter. While Toll isn’t necessarily on the upswing, newly-appointed CEO Doug Yearley said that there is reason to believe the company is stabilizing. “With demand increasing in many areas, we are very focused on growth,” Yearley said. “We believe we are well-positioned for future growth.” The quarterly fiscal report comes just days after 43-year CEO Robert Toll announced he was stepping down from the post, while staying on as chairman. TRD