Toll Brothers, Inc., a leading builder of luxury homes, reported its fiscal year 2025 second-quarter results, showing a decline in net income to $352.4 million, or $3.50 per diluted share, from $481.6 million, or $4.55 per diluted share, in the same quarter of the previous year. The fiscal 2024 net income included a $124.1 million gain from a land sale, without which the net income was $357.5 million and earnings per diluted share were $3.38 in the second quarter of FY 2024. Pre-tax income also decreased to $477.5 million from $649.8 million year-over-year. The company reported home sales revenues of $4.55 billion for 4,890 units, slightly down from $4.58 billion for 4,568 units in the previous year's second quarter. Net signed contracts decreased to $4.91 billion for 4,957 units from $5.01 billion for 5,083 units year-over-year. Toll Brothers ended the quarter with approximately 78,600 lots owned and optioned, up from 71,800 a year earlier. The number of selling communities increased to 421 at the end of FY 2025's second quarter, compared to 386 at the end of the same quarter in FY 2024. Additionally, the company spent around $723.0 million on land acquisitions to purchase approximately 4,380 lots during the quarter.