Toll Brothers sees fall in home-building revenue
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Toll Brothers Inc , the largest U.S. luxury home builder, said on Wednesday that it expects to report a 22 percent drop in fiscal first-quarter home-building revenue amid a dire housing market.
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NEW YORK - Toll Brothers Inc., a US builder of luxury homes, said on Wednesday third-quarter profit rose 56 percent, easily beating analystsâ forecasts, helped by record home-building revenue.
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A plunge in construction spending threatens to drive the American economy into recession.
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The pace of U.S. home construction  fell 14.3 percent in January, the sharpest drop since October  that bucked two months of increases and that was much worse  than economists had expected, a government report on Friday  showed.
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WASHINGTON -- Construction of new homes fell in May as the nation's homebuilders continued to struggle with a steep housing slump that has been exacerbated by rising problems with mortgage defaults.
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The Home Depot Inc., the world's largest home improvement store chain, warned Tuesday that its earnings will decline this year more than previously expected because of weak conditions in the housing market and the sale of its wholesale distribution business.
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The steep slump in housing intensified at the end of last year, pushing home construction down by the biggest amount in nearly three decades.
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Declining land and home values prompted home builder Hovnanian Enterprises Inc  to report results far worse than Wall Street expectations and one the important spring selling season may offer little relief.
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There's an anxious face-off between sellers and buyers of homes as expectations of big profits fade
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The home builder said on Tuesday declining home values would lead to its first quarterly loss since it listed on the New York Stock Exchange in 1995, sending its shares to a three-year low.
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Toll Brothers Inc. , builder of luxury homes, on Tuesday reported a fall in fourth-quarter earnings amid continuing softness in some of the once-hottest U.S. housing markets.
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KB Home  on Thursday posted a loss on write-downs for land values, and revenue fell 32 percent, reflecting the swelling supply of homes and tighter standards in the mortgage market that kept potential buyers on the sidelines.
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Toll Brothers, the builder of luxury homes, said on Wednesday that it expected to report a 22 percent drop in first-quarter revenue and that it saw no sign of improvement in the depressed housing market.
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Home Depot Inc.  said on Wednesday it expects per-share profit to fall this year as the U.S. housing slump hurts sales and it increases spending to improve older stores in a bid to gain market share.
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Toll Brothers Inc. , which builds luxury homes, reported lower quarterly earnings on Tuesday amid a slowdown in the U.S. housing market, sending its shares down more than 3 percent before the market opened.
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BOSTON/NEW YORK  - Luxury home builder Toll Brothers Inc.  reported a 44 percent drop in quarterly profit on Tuesday but signaled that the worst may be over for the sagging U.S. housing market.
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The pace of U.S. home construction fell 14.3 percent in January, the sharpest drop since October that bucked two months of increases and that was much worse than economists had expected, a government report on Friday showed.