EXHIBIT 99.1

FOR IMMEDIATE RELEASE
CONTACT: Frederick N. Cooper (215) 938-8312
December 9, 2019
fcooper@tollbrothers.com

        
Toll Brothers Reports FY 2019 4th Quarter Results

HORSHAM, PA, December 9, 2019 -- Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation’s leading builder of luxury homes, today announced results for its fourth quarter and fiscal year ended October 31, 2019.

FY 2019’s Fourth Quarter Financial Highlights (Compared to FY 2018’s Fourth Quarter):

Net income and earnings per share were $202.3 million and $1.41 per share diluted, compared to net income of $311.0 million and $2.08 per share diluted in FY 2018’s fourth quarter.
Pre-tax income decreased 31% to $272.6 million, compared to $396.5 million in FY 2018’s fourth quarter.
Home sales revenues were $2.29 billion, down 7%; home building deliveries were 2,672, down 1%.
Net signed contract value was $1.68 billion, up 12%; contract units were 2,031, up 18%.
Backlog value at fourth-quarter end was $5.26 billion, down 5%; units in backlog totaled 6,266, up 3%.
Home sales gross margin was 18.8%; Adjusted Home Sales Gross Margin, which excludes interest and inventory write-downs (“Adjusted Home Sales Gross Margin”), was 21.9%.
SG&A, as a percentage of home sales revenues, was 9.0%.
Income from operations was 9.5% of total revenues.
Other income, income from unconsolidated entities, and land sales gross profit was $48.4 million.
The Company repurchased approximately 1.85 million shares of its common stock during the quarter at an average price of $35.66 per share for an aggregate purchase price of approximately $66.0 million.

Full FY 2019 Highlights (Compared to Full FY 2018):

Net income and earnings per share were $590.0 million and $4.03 per share diluted, compared to net income of $748.2 million and $4.85 per share diluted, in FY 2018.
Pre-tax income decreased 16% to $787.2 million, compared to $933.9 million in FY 2018.
Home sales revenues were $7.08 billion, down 1%; home building deliveries were 8,107 units, down 2%.
Net signed contract value was $6.71 billion, down 12%; contract units were 8,075, down 5%.
Home sales gross margin was 19.8%; Adjusted Home Sales Gross Margin was 23.0%.
SG&A, as a percentage of home sales revenues, was 10.4%.
Income from operations was 9.4% of total revenues.
Other income, income from unconsolidated entities, and land sales gross profit was $120.3 million.
The Company repurchased approximately 6.6 million shares at an average price of $35.28 per share for a total purchase price of approximately $233.5 million.

Financial Guidance:

First quarter deliveries of between 1,650 and 1,850 units with an average price of between $800,000 and $820,000.
First quarter Adjusted Home Sales Gross Margin of approximately 21.25%, which is projected to be the low point of the fiscal year.
First quarter SG&A, as a percentage of home sales revenues, of approximately 13.5%. First quarter SG&A includes approximately $10 million of G&A expense that is not expected to occur in subsequent quarters of fiscal 2020.
First quarter other income, income from unconsolidated entities, and land sales gross profit of approximately $15 million.
First quarter tax rate of approximately 26.5%.
FYE 2020 community count growth of approximately 10%.



The following information was filed by Toll Brothers Inc (TOL) on Monday, December 9, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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