Toll Brothers (TOL) Earnings: Q3 Fiscal 2026 Results and Next Report Date

The quarter ended July 31, 2026 and Toll Brothers published the results on August 18, 2026. Revenue and diluted EPS are shown against Q3 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Toll Brothers' fiscal year ends October 31, so Q3 fiscal 2026 is the three months to July 31, 2026. Its fourth-quarter results usually come in early December.
• Toll Brothers reports no adjusted EPS. Its main non-GAAP figure is adjusted home sales gross margin, which adds back interest and inventory write-downs in home sales cost of revenues.
• Regional figures are in millions as the release rounds them, so the rows can differ from total revenue by a rounding amount.

Source: Toll Brothers Q3 fiscal 2026 results, August 18, 2026. Also in the Form 10-Q for the quarter ended July 31, 2026. Figures as reported; checked against the release on November 10, 2026.

How Toll Brothers splits revenue in its own release, under its own labels, for Q3 fiscal 2026 against Q3 fiscal 2025. Indented lines are parts of the line above them.

• Toll Brothers's North revenue was $450 million in Q3 fiscal 2026, up 3% from $439 million in Q3 fiscal 2025, 17% of total revenue.
• Toll Brothers's Mid-Atlantic revenue was $376 million in Q3 fiscal 2026, down 6% from $401 million in Q3 fiscal 2025, 14% of total revenue.
• Toll Brothers's South revenue was $656 million in Q3 fiscal 2026, down 13% from $758 million in Q3 fiscal 2025, 25% of total revenue.
• Toll Brothers's Mountain revenue was $613 million in Q3 fiscal 2026, down 16% from $730 million in Q3 fiscal 2025, 23% of total revenue.
• Toll Brothers's Pacific revenue was $557 million in Q3 fiscal 2026, up 1% from $553 million in Q3 fiscal 2025, 21% of total revenue.
• Toll Brothers's Corporate and other revenue was $0.7 million in Q3 fiscal 2026, up 75% from $0.4 million in Q3 fiscal 2025, under 1% of total revenue.
• Toll Brothers's Land sales and other revenue was $6.3 million in Q3 fiscal 2026, down 90% from $64.1 million in Q3 fiscal 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 fiscal 2026 release, Toll Brothers said:

“These results position us for another year of healthy profitability and returns, and we are reaffirming all of our full-year guidance metrics, including approximately $10.5 billion of home sales revenues and an adjusted gross margin of 26.1%.”

“We remain on track to grow community count by 8% to 10% in fiscal 2026 and our existing land position supports similar growth in fiscal 2027 and beyond.”

“Consistent with this strategy, we are increasing our projected share repurchases for fiscal 2026 from $650 million to $700 million”

Source: Toll Brothers Q3 FY2026 release, Aug 18, 2026.

This is the company's own guidance as of Aug 18, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the TOL forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues (home sales plus land sales and other) and GAAP diluted EPS, each as first reported in that quarter's release.

Toll Brothers's next report is expected around December 8, 2026, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 fiscal 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 fiscal 2026 (this page), reported Aug 18, 2026

Toll Brothers had total revenues of $2,658.8 million in Q3 fiscal 2026, against $2,945.1 million a year earlier. Home sales were $2,652.5 million of that, from 2,662 delivered homes at an average price of $996,400. Land sales and other contributed $6.3 million, down from $64.1 million. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

The 10-Q puts the drop in home sales revenues down to a 10% decrease in homes delivered, offset in part by a 2% increase in average price. Fewer deliveries followed a smaller backlog at October 31, 2025 and fewer spec home deliveries, partly offset by faster construction cycle times. The higher average price came mainly from mix in the Pacific and Mid-Atlantic regions. (Toll Brothers Form 10-Q, Q3 FY2026, Aug 28, 2026)

Toll Brothers reports five geographic segments. In the quarter the South had $655.8 million of home sales revenues, the Mountain region $613.2 million, the Pacific $556.7 million, the North $450.4 million and the Mid-Atlantic $375.7 million. The Pacific had the highest average delivered price at $1,712,900, and the South the lowest at $809,700. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

Orders and backlog point to future deliveries. Net signed contracts were $2.52 billion on 2,508 homes, against $2.41 billion on 2,388 homes a year earlier. Backlog was $6.24 billion on 5,312 homes, down from $6.38 billion on 5,492 homes, at an average of $1,174,400 per home. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

Spec homes, started without a signed buyer, are a growing part of the business: approximately 54% of fiscal 2025 deliveries were spec homes, against 49% in fiscal 2024. The 10-Q says the higher home sales cost of revenues as a share of revenues in Q3 was principally due to an increase in sales incentives on spec homes. (Toll Brothers Form 10-K, fiscal 2025, Dec 19, 2025; Toll Brothers Form 10-Q, Q3 FY2026, Aug 28, 2026)

Toll Brothers earned net income of $280.1 million, or $2.97 per diluted share, against $369.6 million, or $3.73, a year earlier. Toll Brothers publishes no adjusted EPS. Home sales gross margin fell to 23.9% from 25.6%, and SG&A rose to 10.0% of home sales revenues from 8.8%. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

Impairments weighed on the quarter. Home sales cost of revenues included $17.7 million of pre-tax inventory impairments and write-offs, land sales cost of revenues included $10.1 million, and joint venture impairments of $39.6 million sat in loss from unconsolidated entities. Adjusted home sales gross margin, which adds back interest and inventory write-downs, was 25.6% against 27.5%. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

Diluted weighted-average shares fell to 94,445 thousand from 99,170 thousand. Toll Brothers repurchased approximately 1.4 million shares in the quarter at an average of $148.63, for $206.8 million. The effective tax rate was 25.3% against 26.0%. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Toll Brothers gives quarterly and full-year guidance in its release. For Q4 fiscal 2026 it guided 3,450 to 3,550 deliveries at an average price of $995,000 to $1,005,000, an adjusted home sales gross margin of 26.00%, SG&A of 8.10% of home sales revenues and a tax rate of 26.0%. For the full year it guided 10,500 to 10,600 deliveries and an adjusted home sales gross margin of 26.10%, and reaffirmed about $10.5 billion of home sales revenues. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

The release also projects 480 to 490 communities at fiscal year end, against 471 at the end of Q3, and raised planned fiscal 2026 share repurchases from $650 million to $700 million. Toll Brothers does not give a GAAP home sales gross margin forecast, because inventory write-downs cannot be projected. (Toll Brothers Q3 FY2026 release, Aug 18, 2026)

A consensus figure is the average of the models published by the analysts who cover Toll Brothers, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Toll Brothers's own release and filings put weight on for Q3 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning TOL is on is TOL a buy or a sell?, what analysts expect next is on the TOL forecast, and what the company does is on the Toll Brothers (TOL) stock page.

Every number on this page can be traced to a document Toll Brothers published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.