45%, 51%, 66%, 75% — Homebuilder Toll Brothers Is The Very Definition Of Momentum

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Photo: Yvan leduc, Wikimedia Commmons

This is what momentum looks like.Homebuilder Toll Brothers just reported Q4 earnings, with revenues coming in over $60 million ahead of expectations.

Here’s the part that blew us away:

“We enjoyed resurgent activity across all of our product lines and in most of our geographic regions. The momentum that began in our first quarter of FY 2012 built throughout the year. Sequentially, over the four quarters of FY 2012, the value of net signed contracts rose 45%, 51%, 66% and 75% compared to FY 2011’s same four quarters. Our net contracts per community (“same store sales”), which increased 33% and 60% respectively versus FY 2011’s full year and fourth quarter, were the highest for a fiscal year since FY 2006 and the highest for a fourth quarter since FY 2005. Now, five weeks into FY 2013, our contracts are up 34% versus FY 2012’s same period.

Of course, anyone familiar with the chart of housing starts can’t be that surprised. Check out that recent spike.


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