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Toll Brothers Q1 Profit Rises

Toll Brothers Inc. (TOL) Tuesday reported first-quarter profit of $96.5 million or $0.76 per share, up from $56.9 million or $0.41 per share last year.

Revenues for the quarter rose to $1.56 billion from $1.33 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.47 per share on revenues of $1.35 billion. Analysts' estimates typically exclude special items.

Looking forward, Toll Brothers expects second-quarter deliveries of about 2,175 homes with an average price of between $785,000 and $805,000. The company said delivery guidance for the second quarter reflects the slower COVID-19 impacted sales environment of mid-March through May 2020.

For the full year 2021, Toll Brothers expect deliveries of between 10,000 and 10,400 homes with an average price of between $790,000 and $810,000.

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