Every material Form 8-K Toll Brothers has filed with the SEC since February 11, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Toll Brothers reported fiscal third-quarter 2026 results for the period ended July 31, 2026, with net income of $280.1 million, or $2.97 per diluted share, down from $369.6 million, or $3.73, a year earlier. Home sales revenues fell to $2.65 billion from $2.88 billion, and the company reaffirmed its full-year guidance while raising its projected fiscal 2026 share repurchases to $700 million from $650 million.
Net income was $280.1 million, or $2.97 per diluted share, versus $369.6 million, or $3.73, in the prior-year third quarter.
Home sales revenues were $2.65 billion on 2,662 delivered homes, compared with $2.88 billion on 2,959 homes a year earlier.
Home sales gross margin was 23.9%, versus 25.6%; adjusted home sales gross margin was 25.6%, versus 27.5%.
Full-year fiscal 2026 guidance was reaffirmed, including about $10.5 billion of home sales revenues, and projected share repurchases were raised to $700 million.
Toll Brothers reported second-quarter fiscal 2026 results for the three months ended April 30, 2026, with net income of $260.6 million ($2.72 per diluted share), down from $352.4 million ($3.50) a year earlier. Home sales revenues fell to $2.51 billion from $2.71 billion as deliveries declined to 2,491 homes from 2,899. Management said it is raising full-year guidance across its key home building metrics based on year-to-date performance.
Net income $260.6 million, or $2.72 per diluted share, versus $352.4 million, or $3.50, a year earlier
Home sales revenues $2.51 billion on 2,491 deliveries, versus $2.71 billion on 2,899 deliveries
Adjusted home sales gross margin 26.2% versus 27.5%; SG&A at 10.3% of home sales revenues versus 9.5%
Full-year FY 2026 guidance includes 10,400 to 10,700 deliveries and an adjusted home sales gross margin of 26.10%
Toll Brothers said Robert Parahus will retire as President and Chief Operating Officer effective June 30, 2026, and Executive Vice President Seth J. Ring will succeed him. Ring will also join the Board, which the filing says will increase to 11 members, and Parahus will stay on as a senior advisor through June 30, 2027.
Seth J. Ring, age 46, succeeds Robert Parahus as President and COO effective June 30, 2026, and joins the Board with a term expiring at the 2027 annual meeting.
Ring's compensation includes a $1,000,000 base salary, a fiscal 2026 targeted bonus of $1,750,000, and an annual equity award totaling $3,750,000, all pro-rated for fiscal 2026.
Parahus will receive total compensation of $1,850,000 as a senior advisor, half in periodic cash payments and half in a long-term equity award.
Toll Brothers said its board added Karl K. Mistry as a director on March 30, 2026, and he succeeded Douglas C. Yearley, Jr. as chief executive the same day under a previously announced succession plan. Yearley now serves as Executive Chairman, so the company's leadership transition is complete while he remains involved in the business.
Karl K. Mistry appointed director on March 30, 2026; board increased from 9 to 10 members
Mistry succeeded Douglas C. Yearley, Jr. as CEO effective March 30, 2026
Yearley assumes the role of Executive Chairman
Mistry is not expected to serve on any board committee
Toll Brothers reported results for the first quarter ended January 31, 2026, with net income of $210.9 million, or $2.19 per diluted share, up from $177.7 million, or $1.75, a year earlier. Home sales revenues were $1.85 billion, roughly flat, while deliveries fell to 1,899 homes from 1,991, and backlog value dropped to $6.02 billion from $6.94 billion. Management said it is maintaining full-year fiscal 2026 guidance.
Net income $210.9 million, or $2.19 per diluted share, versus $177.7 million, or $1.75, in the prior-year quarter.
Home sales revenues $1.85 billion versus $1.84 billion; delivered homes 1,899 versus 1,991.
Quarter-end backlog $6.02 billion (5,051 homes) versus $6.94 billion (6,312 homes) a year earlier.
Full-year fiscal 2026 guidance includes 10,300 to 10,700 deliveries and an adjusted home sales gross margin of 26.00%.
Toll Brothers amended its $2.35 billion senior unsecured revolving credit agreement and its $650 million term loan agreement on February 5, 2026. The revolver's commitments rose to $2.375 billion and its maturity moved from February 7, 2030 to February 5, 2031, while the term loan's maturity was extended for $548,437,500 of outstanding loans. The amendments also removed the ten basis point SOFR credit spread adjustment, a routine change to borrowing terms that does not alter reported results in the filing.
Revolving credit commitments increased from $2.35 billion to $2.375 billion
Revolver maturity extended from February 7, 2030 to February 5, 2031
$548,437,500 of term loan maturity extended to February 5, 2031; $101,562,500 remains due February 7, 2030
SOFR credit spread adjustment of ten basis points removed from the revolver and substantially all term loans
Toll Brothers said Chairman and CEO Douglas Yearley will become Executive Chairman on March 30, 2026, and Executive Vice President Karl Mistry will succeed him as CEO on that date. Mistry is also expected to join the Board on or about the same date, and the filing lists his base salary, bonus target and equity award. The change is a planned succession, and the filing reports no change to financial results or guidance.
Karl K. Mistry, a Toll Brothers employee since 2004, becomes CEO effective March 30, 2026.
Mistry's compensation includes a $1,000,000 base salary, a $2,250,000 targeted annual cash bonus and a $4,250,000 annual equity award.
Douglas C. Yearley, Jr., CEO since 2010, will remain as Executive Chair of the Board and is expected to receive $6,600,000 in total compensation starting in fiscal 2027.
Toll Brothers said its Senior Vice President and Chief Accounting Officer, Michael J. Grubb, intends to retire as principal accounting officer on February 2, 2026. The company intends to appoint Erica J. Mainardi, a internal promotee with prior accounting roles at DuPont, BrightView and Ernst & Young, to succeed him effective the same date.
Michael J. Grubb, 61, has worked at the company for 22 years and has been Chief Accounting Officer since January 2018.
Erica J. Mainardi, 44, is slated to become Senior Vice President and Chief Accounting Officer effective February 2, 2026.
Mainardi joined Toll Brothers as Director, FP&A in June 2020 and was promoted to Vice President in September 2021.
The filing reports no financial results, and no arrangements or family relationships tied to the appointment.
Toll Brothers reported fourth-quarter results for the period ended October 31, 2025, with home sales revenue of $3.41 billion, up from $3.26 billion a year earlier. Net income and diluted earnings per share fell from a year earlier, and the company said its $4.58 EPS was modestly below its guidance because the Apartment Living sale was delayed. Net signed contracts and backlog both declined, and the company issued FY 2026 delivery guidance of 10,300 to 10,700 units.
Fourth-quarter net income was $446.7 million, or $4.58 per diluted share, versus $475.4 million, or $4.63, a year earlier.
Net signed contract value was $2.53 billion versus $2.66 billion; backlog value was $5.5 billion versus $6.5 billion.
FY 2026 guidance calls for 10,300 to 10,700 deliveries and an adjusted home sales gross margin of 26.00%.
The $380 million Apartment Living sale to Kennedy Wilson is now expected to close in the first quarter of FY 2026.
Toll Brothers reported fiscal third-quarter results for the period ended July 31, 2025, with net income of $369.6 million, or $3.73 per diluted share, up from $3.60 a year earlier. Home sales revenue rose 6% to $2.88 billion, but home sales gross margin fell to 25.6% from 27.4%, and backlog value declined 10% year over year. The release also sets fourth-quarter and full fiscal 2025 guidance, including 11,200 full-year deliveries.
Net income $369.6 million, or $3.73 per diluted share, vs. $374.6 million, or $3.60, a year earlier; pre-tax income $499.5 million vs. $503.6 million
Home sales revenue $2.88 billion, up 6%, on 2,959 delivered homes; net signed contract value flat at $2.41 billion
Home sales gross margin 25.6% vs. 27.4%; adjusted home sales gross margin 27.5% vs. 28.8%
Backlog value $6.38 billion, down 10%; full-year fiscal 2025 guidance of 11,200 deliveries and 27.25% adjusted gross margin
Toll Brothers said CFO Martin P. Connor will retire effective October 31, 2025, and Gregg Ziegler, currently Senior Vice President, Investor Relations & Treasurer, will become Executive Vice President and Chief Financial Officer effective November 1, 2025. Connor will stay on as a senior advisor through October 31, 2026, and the filing describes a CFO transition rather than a change in reported results.
Martin P. Connor retires as CFO effective October 31, 2025; he will serve as senior advisor through October 31, 2026 for expected total compensation of $2,500,000.
Gregg Ziegler, who joined Toll Brothers in 2002, will be promoted to EVP and CFO effective November 1, 2025, reporting to Chairman and CEO Douglas C. Yearley, Jr.
Ziegler's approved pay includes a base salary of $875,000, a targeted fiscal 2026 bonus of $1,270,000, and an expected annual equity award with a grant date fair value of $1,355,000.
Toll Brothers Finance Corp., a wholly-owned subsidiary of Toll Brothers, completed a public offering of $500 million of 5.600% senior notes due June 15, 2035, guaranteed by the parent company. The company said it intends to use the net proceeds for general corporate purposes, which may include refinancing its 4.875% senior notes due 2025. The filing adds new long-term debt to the company's obligations but does not report earnings or guidance.
Offering size: $500,000,000 aggregate principal amount of 5.600% Senior Notes due June 15, 2035
Underwriting agreement dated June 5, 2025; offering completed June 10, 2025
Interest paid semi-annually on June 15 and December 15, starting December 15, 2025
Proceeds may be used for general corporate purposes, including refinancing 4.875% notes due 2025
Toll Brothers reported fiscal second-quarter 2025 results for the period ended April 30, 2025, with net income of $352.4 million, or $3.50 per diluted share, down from $481.6 million, or $4.55, a year earlier. The prior-year figure included a $124.1 million gain from a land sale; excluding that gain, the company's prior-year diluted EPS was $3.38. The company reaffirmed its full-year fiscal 2025 guidance, but net signed contract value fell 11% to $2.60 billion.
Home sales revenues were $2.71 billion, up 2% from the prior-year quarter; 2,899 homes were delivered, up 10%.
Net signed contract value was $2.60 billion, down 11%; contracted homes fell 13% to 2,650.
Home sales gross margin was 26.0%, up from 25.8%; adjusted home sales gross margin fell to 27.5% from 28.2%.
Full-year fiscal 2025 guidance was reaffirmed; the company repurchased about 1.6 million shares for $177.4 million in the quarter.
Toll Brothers reported first-quarter fiscal 2025 net income of $177.7 million, or $1.75 per diluted share, down from $239.6 million, or $2.25 per share, a year earlier. The company blamed the decline primarily on impairments and a delay in the sale of a stabilized apartment property in one of its joint ventures, and it reaffirmed all key full-year homebuilding guidance.
Home sales revenues were $1.84 billion, down 5%, while delivered homes rose 3% to 1,991.
Net signed contract value was $2.31 billion, up 12%, but management said sales are pressured at the lower end of the market.
Overall impairments were $22.6 million, compared with $1.5 million a year earlier.
Full-year fiscal 2025 guidance was reaffirmed, including 11,200 to 11,600 deliveries; second-quarter deliveries are guided to 2,500 to 2,700 units.
Toll Brothers extended the maturity dates of its revolving credit facility and its $650 million term loan to February 7, 2030, and increased the revolver's total commitments from $1.955 billion to $2.35 billion. The filing describes these as changes made under the existing terms of the agreements, with no other provisions modified, which gives the company longer-dated borrowing capacity.
Revolving credit agreement maturity extended from February 14, 2028 to February 7, 2030
Revolving commitments increased from $1.955 billion to $2.35 billion
All $650 million of outstanding term loan maturities extended to February 7, 2030
Registrant and substantially all 100% owned home building subsidiaries guarantee both facilities
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