NEW YORK (TheStreet) -- Toll Brothers (TOL) climbed over Wednesday's session after the homebuilder posted 67% sales growth in its most recent quarter. The homebuilder recorded revenue of $860.37 million in its second quarter ended April, while earnings more than doubled to 35 cents a share.
Growth was thanks to both quantity and quality of houses built. The company managed to build more luxury homes at higher prices in its spring selling season, a quarter seen as highly profitable for companies in the home construction sector. Toll Brothers delivered 1,218 units, a 38% jump in volume from a year earlier. The price per home increased with the average selling price increasing 22%.
By market close, shares had added 2.1% to $36.37.
- You can view the full analysis from the report here: TOL Ratings Report
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