Toll Brothers (TOL) Q1 2026 Earnings Summary

Toll met or beat guidance on nearly every metric and grew pre-tax income 24%, with build-to-order margins still above 30%.

Quarter ended January 31, 2026 (fiscal Q1).

Closings 1,899 (↓5%)
Revenue $1.85B (flat)
Gross margin 24.8%
Orders 2,303 (flat)

From the call

“Impressively, our average adjusted gross margin in our build-to-order business remained above 30% in the first quarter.”

Toll runs both models on purpose: build-to-order for margin and specs for speed, split about 50/50. Pre-tax income rose 24%.

Source: Toll Brothers 8-K and earnings call.

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