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FORT WASHINGTON, Pa. (AP) — FORT WASHINGTON, Pa. (AP) — Toll Brothers Inc. (TOL) on Tuesday reported fiscal second-quarter net income of $481.6 million.
The Fort Washington, Pennsylvania-based company said it had profit of $4.55 per share. Earnings, adjusted for non-recurring gains, came to $3.38 per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.13 per share.
The home builder posted revenue of $2.84 billion in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.52 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a TOL">Zacks stock report on TOL at https://www.zacks.com/ap/TOL