Toll Brothers, Inc. TOL reported better-than-expected earnings for its fourth quarter after the closing bell on Tuesday. The company reported quarterly EPS of $1.24, beating market expectations of $1.15. The company’s sales came in at $1.791 billion, versus estimates of $1.792 billion.
On CNBC, Ken Leon from CFRA said, although it was brutal day for stocks, including Home Depot, Inc. HD, Toll Brothers is a "little bit more protected" as the company’s offering is for luxury homes and there is a rise in cash buyers.
Leon added he wants to get some more insights into growth of communities and backlog.
Price Action: Shares of Toll Brothers were trading down by 2.01% at $51.22 on Wednesday morning, after dropping 3.3% in regular trading session on Tuesday.
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