Toll Brothers Earnings: Weathering the Storm
Despite a third-quarter profit that fell 85 percent, Toll Brothers managed to stay profitable and actually beat analyst forecasts. Toll Brothers stock was trading higher in early morning action.
CEO Robert Toll stated that a surplus of homes is curbing demand. He also said that ``Our buyers generally should be able to continue to secure mortgages, due to their typically lower loan-to-value ratios and attractive credit profiles,''
But, analysts predict that these buyers will likely begin to have trouble securing mortages, despite their favorable credit and financial status. This could mean that Toll and other luxury builders may be exposed to more writedowns of land holdings in future quarters.













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