By Dean Seal

Toll Brothers cut its home deliveries guidance for the full-year as affordability pressures and uncertainty in the economy persist.

The homebuilder said after the bell Tuesday it now expects to deliver 11,200 units in the fiscal year that ends on Oct. 31, at an average delivered price per home of $950,000 to $960,000.

Previously, 11,200 had been the low-end of Toll's deliveries guidance, with a ceiling of 11,600. The company has also narrowed its average delivered price target by $5,000 at each end of the range.

For the fiscal third quarter that ended July 31, Toll delivered 2,959 homes at an average price of $974,000, leading to what Chief Executive Douglas Yearley called a record third quarter for home sales.

Home-sales revenue rose 6% to $2.88 billion, ahead of analyst projections for $2.84 billion, according to FactSet.

Toll posted a profit of $369.6 million, or $3.73 a share, compared with $374.6 million, or $3.60 a share, in the same quarter a year earlier. Analysts surveyed by FactSet had been expecting $3.60 a share.

Affordability remains an issue in the housing markets as economic conditions remain murky, though the company's luxury business and more affluent customers are still doing well, Yearley said.

Toll expects to deliver 3,350 units in the quarter that started this month, at an average price of $970,000 to $980,000 per home.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

August 19, 2025 16:55 ET (20:55 GMT)

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