Toll Brothers Inc. (TOL) reported earnings for first quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line came in at $177.70 million, or $1.75 per share. This compares with $239.56 million, or $2.25 per share, last year.
Analysts on average had expected the company to earn $2.05 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 4.5% to $1.859 billion from $1.947 billion last year.
Toll Brothers Inc. earnings at a glance (GAAP) :
-Earnings: $177.70 Mln. vs. $239.56 Mln. last year.-EPS: $1.75 vs. $2.25 last year.-Revenue: $1.859 Bln vs. $1.947 Bln last year.
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