In a survey covering over 1,500 companies across more than 50 industries, Toll Brothers, Inc. has recently been named the Most Admired Home Building Company in Fortune magazine’s survey of the World’s Most Admired Companies for 2016.
In addition to receiving the top ranking overall in the Home Builder sector, Toll Brothers ranked #6 among all 1,500 companies in the survey in the Quality of Products/Services category behind only Apple, Walt Disney, Amazon, Alphabet, and Nordstrom, and ahead of Netflix, Facebook, Alcoa and Wynn Resorts, the top 10 ranked companies. Within the Home Builder sector, Toll Brothers ranked #1 in the following categories: Innovation, Social Responsibility, Quality of Management, Financial Soundness, and Quality of Products/Services.
Well-known and widely recognized for their luxury communities in over 50 markets in 19 states, this newest recognition does not find Toll Brothers jaded to the praise. “To be ranked #6 in the world across all industries for the quality of our products and services in Fortune magazine’s survey of the World’s Most Admired Companies-behind only Apple, Walt Disney, Amazon, Alphabet, and Nordstrom–must be the greatest honor in our history,” said Douglas C. Yearley, Jr., Toll Brothers’ chief executive officer.
“This recognition, coupled with, again, being ranked by Fortune magazine as the Most Admired Home Building Company among the World’s Most Admired Companies, is an incredible tribute to our Toll Brothers associates and their dedication to our customers and our communities.”
Toll Brothers also seems to be sitting pretty for the beginning of 2016, based on their recently released FY 2016 first quarter results.
Although FY 2016’s first quarter net income was $73.2 million, compared to net income of $81.3 million in FY 2015’s first quarter, investors shouldn’t worry. Revenues of $928.6 million and home building deliveries of 1,063 units rose 9 percent in dollars and declined 3 percent in units compared to FY 2015’s first quarter. Also, the average price of homes delivered was $873,500, compared to $782,300.
In updating its guidance, the Company now expects to deliver between 5,700 and 6,400 homes in FY 2016 at an average price of $810,000 to $850,000. This compares to 5,525 deliveries in FY 2015 at an average price of $755,000, translating to projected revenues of between $4.6 billion and $5.4 billion in FY 2016, compared to $4.17 billion in FY 2015.
“We continue to believe that the industry remains on a trajectory of slow but steady growth with pent-up demand that will release over time,” said Yearley.