Toll Brothers misses 4Q profit forecasts

Toll Brothers misses 4Q earnings expectations, tops revenue forecasts

Toll Brothers on Wednesday reported profit of $131.5 million in its fiscal fourth quarter.

The Horsham, Pennsylvania-based company said it had profit of 71 cents per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The home builder posted revenue of $1.35 billion in the period, surpassing Street forecasts. Analysts expected $1.32 billion, according to Zacks.

Toll Brothers shares have declined 6 percent since the beginning of the year. The stock has risen roughly 4 percent in the last 12 months.