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FOR IMMEDIATE RELEASE August 24 , 2021 ● Toll Brothers AMERICA'S LUXURY HOME BUILDERⓇ FORT WASHINGTON , PA , August 24 , 2021 Toll Brothers , Inc. ( NYSE : TOL ) ( TollBrothers.com ) , the nation's leading builder of luxury homes , today announced results for its third quarter ended July 31 , 2021 . ● CONTACT : Frederick N. Cooper ( 215 ) 938-8312 fcooper@tollbrothers.com FY 2021's Third Quarter Financial Highlights ( Compared to FY 2020's Third Quarter ) : Net income and earnings per share were $ 234.9 million and $ 1.87 per share diluted , compared to net income of $ 114.8 million and $ 0.90 per share diluted in FY 2020's third quarter . Pre - tax income was $ 303.4 million , compared to $ 151.9 million in FY 2020's third quarter . Home sales revenues were $ 2.23 billion , up 37 % compared to FY 2020's third quarter ; delivered homes were 2,597 , up 28 % . ● Toll Brothers Reports FY 2021 3rd Quarter Results Net signed contract value was $ 2.98 billion , up 35 % compared to FY 2020's third quarter ; contracted homes were 3,154 , up 11 % . Net signed ontracts , in both dollars and units , were third quarter records . Backlog value was $ 9.44 billion at third quarter end , up 55 % compared to FY 2020's third quarter ; homes in backlog were 10,661 , up 47 % . Quarter - end backlog , in both dollars and units , were all - time records . Home sales gross margin was 22.7 % , compared to FY 2020's third quarter home sales gross margin of 21.0 % . Adjusted home sales gross margin , which excludes interest and inventory write - downs , was 25.6 % , compared to FY 2020's third quarter adjusted home sales gross margin of 23.9 % . SG & A , as a percentage of home sales revenues , was 10.5 % , compared to 11.9 % in FY 2020's third quarter . Income from operations was $ 276.7 million . Other income , income from unconsolidated entities , and gross margin from land sales and other was $ 29.1 million . Douglas C. Yearley , Jr. , chairman and chief executive officer , stated : “ We are very pleased with our third quarter performance . Home sales revenues were up 37 % , and pre - tax income and earnings per share more than doubled compared to one year ago . We are benefiting from our strategy of broadening our product lines , price points and geographies as we continue to grow our business , drive price , expand margins and improve our capital efficiency . " Demand continues to be very strong . Net signed contracts were up 35 % in dollars to approximately $ 3 billion compared to the prior year period . The housing market is being driven by many strong fundamentals , including low mortgage rates , favorable millennial - driven demographics , a decade of pent - up demand , low new home supply , and a tight resale market . We expect strong and sustainable demand for our homes in the years to come . " Our deep land position provides a solid foundation for growth , with 340 communities projected by FYE 2021 and an additional 10 % community count growth in fiscal 2022. Our record backlog , our focus on capital and operating efficiency , and the continued strength of the housing market give us confidence that our full FY 2022 margins will significantly exceed the strong margins we project for our FY 2021 fourth quarter and that our return on beginning equity will exceed 20 % in FY 2022 and beyond . "