FORT WASHINGTON, Pa. (AP) — FORT WASHINGTON, Pa. (AP) — Toll Brothers Inc. (TOL) on Tuesday reported fiscal first-quarter profit of $177.7 million.
On a per-share basis, the Fort Washington, Pennsylvania-based company said it had profit of $1.75.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The home builder posted revenue of $1.86 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.9 billion.
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