Quarter ended July 31, 2026 (fiscal Q3).
| Closings | 2,662 (↓10%) |
| Revenue | $2.65B (↓8%) |
| Gross margin | 23.9% |
| Orders | 2,508 (↑5%) |
From the call
“Overall, upgrades, structural options, and lot premiums averaged $207,000, or 24% of our average base sales price in the quarter.”
Toll’s design studio is a profit center. Selling specs early in construction keeps buyers choosing upgrades, which protects margin.
Source: Toll Brothers 8-K and earnings call.
