Latest news with #DouglasYearley
Yahoo
10-07-2025
- Business
- Yahoo
Toll Brothers Announces Gregg Ziegler to Succeed Marty Connor as CFO
Gregg Ziegler FORT WASHINGTON, Pa., July 10, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL) ( announced today that Gregg Ziegler, Senior Vice President, Investor Relations & Treasurer and 23-year company veteran, will succeed Marty Connor as Chief Financial Officer at the end of the Company's fiscal year on October 31, 2025. Following his retirement, Mr. Connor will continue to serve the Company as a senior advisor for a one-year period. During this time, in addition to supporting a smooth transition of CFO responsibilities, he will provide strategic advice and support to Mr. Ziegler and the rest of the executive team. Upon his promotion, Mr. Ziegler will report directly to Chairman and Chief Executive Officer Douglas C. Yearley, Jr. and assume responsibility for the Company's accounting, treasury & finance, tax, investor relations, risk management, internal audit, mortgage, title and information technology functions. 'During his 17 years with Toll Brothers, Marty has been an outstanding leader, business partner and financial steward. He has played a central role creating value for our stakeholders and we look forward to continuing to benefit from his perspective and expertise as a senior advisor. Marty has built a deep bench of talent within our financial organization, and we are pleased to have a strong leader in Gregg Ziegler ready to step into this important role. Given his extensive experience in our finance department, strong partnership with our operations teams, and long-term relationships on Wall Street, Gregg has an unmatched understanding of our business, and I am confident that he is the right leader to continue our track record of financial success,' said Yearley. In his current role, Mr. Ziegler has responsibility for the Company's investor relations, capital markets, mergers and acquisitions, corporate strategy, land financing activities and financial planning and analysis functions. He began his career at Toll Brothers in 2002 as an Assistant Finance Director within the Finance and Investor Relations department and has held various roles of increasing responsibilities since then. In 2010, Mr. Ziegler was promoted to Senior Vice President and was appointed Treasurer in 2013. In May 2024, he assumed additional responsibilities as head of the Investor Relations department. Mr. Ziegler holds a Bachelor of Science degree in Accounting and a Master of Business Administration degree from Villanova University. ABOUT TOLL BROTHERSToll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol 'TOL.' The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, insurance, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. Toll Brothers has been one of Fortune magazine's World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company's Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron's magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website ( From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. FORWARD LOOKING STATEMENTThis release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as 'anticipate,' 'estimate,' 'expect,' 'project,' 'intend,' 'plan,' 'believe,' 'may,' 'can,' 'could,' 'might,' 'should,' 'likely,' 'will,' and other words or phrases of similar meaning. Such statements may include, but are not limited to, information related to: market conditions; mortgage rates; inflation rates; demand for our homes; our build- to-order and quick move-in home strategy; sales paces and prices; effects of home buyer cancellations; our strategic priorities; growth and expansion; our land acquisition, land development and capital allocation priorities; anticipated operating results; home deliveries; financial resources and condition; changes in revenues, profitability, margins and returns; changes in accounting treatment; cost of revenues, including expected labor and material costs; availability of labor and materials; selling, general and administrative expenses; interest expense; inventory write- downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; the outcome of legal proceedings, investigations, and claims; management succession plans; and the impact of public health or other emergencies. Any or all of the forward-looking statements included in this release and in any other reports or public statements made by us are not guarantees of future performance and may turn out to be inaccurate. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. Therefore, we caution you not to place undue reliance on our forward-looking statements. The major risks and uncertainties - and assumptions that are made - that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to: the effect of general economic conditions, including employment rates, housing starts, interest and mortgage rates, home affordability, inflation, consumer sentiment, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the price and availability of lumber, other raw materials, and home components; the impact of labor shortages, including on our subcontractors, supply chain and municipalities; the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries; the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters; risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as COVID-19; federal and state tax policies; transportation costs; the effect of land use, environmental and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects; the effect of potential loss of key management personnel or unsuccessful management transitions; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our and our homebuyers' confidential information or other forms of cyber-attack; and other factors described in 'Risk Factors' included in our Annual Report on Form 10-K for the year ended October 31, 2024 and in subsequent filings we make with the Securities and Exchange Commission ('SEC'). Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. For a further discussion of factors that we believe could cause our actual results to differ materially from expected and historical results, see the information under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section. CONTACT: Heather Reeves (215) 328-7634 hreeves@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Toll Brothers Announces Gregg Ziegler to Succeed Marty Connor as CFO
FORT WASHINGTON, Pa., July 10, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL) ( announced today that Gregg Ziegler, Senior Vice President, Investor Relations & Treasurer and 23-year company veteran, will succeed Marty Connor as Chief Financial Officer at the end of the Company's fiscal year on October 31, 2025. Following his retirement, Mr. Connor will continue to serve the Company as a senior advisor for a one-year period. During this time, in addition to supporting a smooth transition of CFO responsibilities, he will provide strategic advice and support to Mr. Ziegler and the rest of the executive team. Upon his promotion, Mr. Ziegler will report directly to Chairman and Chief Executive Officer Douglas C. Yearley, Jr. and assume responsibility for the Company's accounting, treasury & finance, tax, investor relations, risk management, internal audit, mortgage, title and information technology functions. 'During his 17 years with Toll Brothers, Marty has been an outstanding leader, business partner and financial steward. He has played a central role creating value for our stakeholders and we look forward to continuing to benefit from his perspective and expertise as a senior advisor. Marty has built a deep bench of talent within our financial organization, and we are pleased to have a strong leader in Gregg Ziegler ready to step into this important role. Given his extensive experience in our finance department, strong partnership with our operations teams, and long-term relationships on Wall Street, Gregg has an unmatched understanding of our business, and I am confident that he is the right leader to continue our track record of financial success,' said Yearley. In his current role, Mr. Ziegler has responsibility for the Company's investor relations, capital markets, mergers and acquisitions, corporate strategy, land financing activities and financial planning and analysis functions. He began his career at Toll Brothers in 2002 as an Assistant Finance Director within the Finance and Investor Relations department and has held various roles of increasing responsibilities since then. In 2010, Mr. Ziegler was promoted to Senior Vice President and was appointed Treasurer in 2013. In May 2024, he assumed additional responsibilities as head of the Investor Relations department. Mr. Ziegler holds a Bachelor of Science degree in Accounting and a Master of Business Administration degree from Villanova University. ABOUT TOLL BROTHERS Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol 'TOL.' The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, insurance, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations. Toll Brothers has been one of Fortune magazine's World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company's Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron's magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website ( From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. FORWARD LOOKING STATEMENT This release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as 'anticipate,' 'estimate,' 'expect,' 'project,' 'intend,' 'plan,' 'believe,' 'may,' 'can,' 'could,' 'might,' 'should,' 'likely,' 'will,' and other words or phrases of similar meaning. Such statements may include, but are not limited to, information related to: market conditions; mortgage rates; inflation rates; demand for our homes; our build- to-order and quick move-in home strategy; sales paces and prices; effects of home buyer cancellations; our strategic priorities; growth and expansion; our land acquisition, land development and capital allocation priorities; anticipated operating results; home deliveries; financial resources and condition; changes in revenues, profitability, margins and returns; changes in accounting treatment; cost of revenues, including expected labor and material costs; availability of labor and materials; selling, general and administrative expenses; interest expense; inventory write- downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; the outcome of legal proceedings, investigations, and claims; management succession plans; and the impact of public health or other emergencies. Any or all of the forward-looking statements included in this release and in any other reports or public statements made by us are not guarantees of future performance and may turn out to be inaccurate. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. Therefore, we caution you not to place undue reliance on our forward-looking statements. The major risks and uncertainties - and assumptions that are made - that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to: the effect of general economic conditions, including employment rates, housing starts, interest and mortgage rates, home affordability, inflation, consumer sentiment, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the price and availability of lumber, other raw materials, and home components; the impact of labor shortages, including on our subcontractors, supply chain and municipalities; the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries; the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters; risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as COVID-19; federal and state tax policies; transportation costs; the effect of land use, environmental and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects; the effect of potential loss of key management personnel or unsuccessful management transitions; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our and our homebuyers' confidential information or other forms of cyber-attack; and other factors described in 'Risk Factors' included in our Annual Report on Form 10-K for the year ended October 31, 2024 and in subsequent filings we make with the Securities and Exchange Commission ('SEC'). Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. For a further discussion of factors that we believe could cause our actual results to differ materially from expected and historical results, see the information under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.
Yahoo
09-07-2025
- Business
- Yahoo
The Top 5 Analyst Questions From Toll Brothers's Q1 Earnings Call
Toll Brothers' second quarter results exceeded Wall Street's revenue and non-GAAP profit expectations, despite a year-on-year decline in sales. Management pointed to a softer demand environment, driven by economic uncertainty and lower consumer confidence, as the primary challenge. CEO Douglas Yearley highlighted that the company's performance benefited from a diversified luxury product mix and disciplined cost control. He stated, 'Our results highlight the strength of our broadly diversified luxury product offerings, our balanced portfolio of build-to-order and spec homes, and our strategy of prioritizing sales base and margin in the current environment.' Management also noted that increased incentives were necessary to move spec inventory, while margins for higher-end, build-to-order homes remained strong. Is now the time to buy TOL? Find out in our full research report (it's free). Revenue: $2.74 billion vs analyst estimates of $2.49 billion (3.5% year-on-year decline, 9.9% beat) Adjusted EPS: $3.50 vs analyst estimates of $2.86 (22.4% beat) Adjusted EBITDA: $476.6 million vs analyst estimates of $423.9 million (17.4% margin, 12.4% beat) Operating Margin: 16.8%, down from 23% in the same quarter last year Backlog: $6.84 billion at quarter end, down 7.3% year on year Market Capitalization: $11.49 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Stephen Kim (Evercore ISI) asked about the company's spec inventory levels and the comfort with current inventory versus delivery targets. CFO Marty Connor detailed that over 1,000 completed spec units are available, with 2,400 more in progress, stating this is the highest concentration for the year. John Lovallo (UBS) inquired about gross margin sustainability and the factors balancing margin pressures from spec sales. CEO Douglas Yearley explained that higher-margin luxury and regional mix would offset lower spec margins, resulting in stable blended margins. Mike Dahl (RBC Capital Markets) questioned the visibility of second-half deliveries given the current backlog. Connor clarified that about 4,500 deliveries are covered by backlog, with the remainder supported by completed and in-progress spec homes, minimizing cost risk. Sam Reid (Wells Fargo) asked about SG&A leverage in the fourth quarter. Connor attributed expected improvements to higher revenue and tight cost controls, while noting ongoing inflationary pressures, especially in healthcare. Alan Ratner (Zelman & Associates) sought insights into the impact of stock market volatility and consumer confidence on demand. Yearley noted modest improvements in traffic and interest but said there were no definitive signs of a rebound yet. In the coming quarters, the StockStory team will monitor (1) the pace of community count growth and its effect on sales absorption, (2) the ability to maintain margins amid rising incentives and a cautious market, and (3) the execution of the spec versus build-to-order mix strategy as macro conditions evolve. We will also watch for signs of a demand rebound and any impacts from potential tariffs or changes in land acquisition discipline. Toll Brothers currently trades at $117.05, up from $104.47 just before the earnings. Is there an opportunity in the stock?See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
Toll Brothers (NYSE:TOL): Strongest Q1 Results from the Home Builders Group
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let's take a look at how Toll Brothers (NYSE:TOL) and the rest of the home builders stocks fared in Q1. Traditionally, homebuilders have built competitive advantages with economies of scale that lead to advantaged purchasing and brand recognition among consumers. Aesthetic trends have always been important in the space, but more recently, energy efficiency and conservation are driving innovation. However, these companies are still at the whim of the macro, specifically interest rates that heavily impact new and existing home sales. In fact, homebuilders are one of the most cyclical subsectors within industrials. The 12 home builders stocks we track reported a slower Q1. As a group, revenues beat analysts' consensus estimates by 1.4%. Thankfully, share prices of the companies have been resilient as they are up 7.1% on average since the latest earnings results. Started by two brothers who started by building and selling just one home in Pennsylvania, today Toll Brothers (NYSE:TOL) is a luxury homebuilder across the United States. Toll Brothers reported revenues of $2.74 billion, down 3.5% year on year. This print exceeded analysts' expectations by 9.9%. Overall, it was an incredible quarter for the company with an impressive beat of analysts' EBITDA estimates and a solid beat of analysts' EPS estimates. Douglas C. Yearley, Jr., chairman and chief executive officer, stated: 'We are pleased with our second quarter results, as we delivered earnings that significantly exceeded expectations. Despite a softer demand environment, we generated record second quarter home sales revenues of $2.71 billion, well above our guidance of $2.47 billion, and beat both our adjusted gross margin and SG&A guidance. We believe these results highlight the strength of our broadly diversified luxury product offerings, price points and geographies, our balanced portfolio of build-to-order and spec homes, and our strategy of prioritizing sales price and margin over pace in the current environment. Based on our first half results and the strength of our backlog, we are reaffirming our full year guidance. Toll Brothers pulled off the biggest analyst estimates beat of the whole group. Unsurprisingly, the stock is up 14.8% since reporting and currently trades at $119.90. Is now the time to buy Toll Brothers? Access our full analysis of the earnings results here, it's free. Named 'America's Most Trusted Home Builder' in 2019, Taylor Morrison Home (NYSE:TMHC) builds single family homes and communities across the United States. Taylor Morrison Home reported revenues of $1.90 billion, up 11.5% year on year, outperforming analysts' expectations by 5.7%. The business had a strong quarter with an impressive beat of analysts' EBITDA estimates. Taylor Morrison Home delivered the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 9.3% since reporting. It currently trades at $64.25. Is now the time to buy Taylor Morrison Home? Access our full analysis of the earnings results here, it's free. Based in Texas, LGI Homes (NASDAQ:LGIH) is a homebuilding company specializing in constructing affordable, entry-level single-family homes in desirable communities across the United States. LGI Homes reported revenues of $351.4 million, down 10.1% year on year, falling short of analysts' expectations by 5%. It was a disappointing quarter as it posted a significant miss of analysts' adjusted operating income estimates. LGI Homes delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 5.4% since the results and currently trades at $56. Read our full analysis of LGI Homes's results here. The first homebuilder to be listed on the NYSE, KB Home (NYSE:KB) is a homebuilding company targeting the first-time home buyer and move-up buyer markets. KB Home reported revenues of $1.53 billion, down 10.5% year on year. This result topped analysts' expectations by 1.6%. Aside from that, it was a slower quarter as it logged a significant miss of analysts' EBITDA and backlog estimates. The stock is up 4.7% since reporting and currently trades at $55.88. Read our full, actionable report on KB Home here, it's free. Originally founded in 1985 in Arizona as Monterey Homes, Meritage Homes (NYSE:MTH) is a homebuilder specializing in designing and constructing energy-efficient and single-family homes in the US. Meritage Homes reported revenues of $1.36 billion, down 7.5% year on year. This number beat analysts' expectations by 2.4%. Aside from that, it was a mixed quarter as it also logged full-year revenue guidance beating analysts' expectations but a significant miss of analysts' backlog estimates. Meritage Homes delivered the highest full-year guidance raise among its peers. The stock is up 4.1% since reporting and currently trades at $70.97. Read our full, actionable report on Meritage Homes here, it's free. Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-06-2025
- Business
- Yahoo
CEO of an $11 billion builder empire warns that these housing markets face a short-term oversupply
Want more housing market stories from Lance Lambert's ResiClub in your inbox? Subscribe to the ResiClub newsletter. He was buried in a mushroom casket. Soon he'll be part of the soil CEO of an $11 billion builder empire warns that these housing markets face a short-term oversupply Lifting the veil on the critical—and oft-times overlooked—factors driving AI growth This year's spring selling season didn't meet expectations, Toll Brothers CEO Douglas Yearley told a group of institutional investors gathered at Bank of America's 2025 Housing Symposium earlier this month. 'The spring selling season, which is really a winter selling season, is when most new homes are sold in this country,' Yearley said. 'This was not a good spring . . . it still was, overall, a soft spring season.' Yearley said February marked the spring season low point, with some improvement in March and April—but not enough to call it a rebound. Regionally, Yearley painted a picture of a highly bifurcated market. The best-performing areas for Toll Brothers include Boston and Northern Virginia, where land is scarce, resale inventory is tight, and competition from large public builders is limited. 'Through the COVID years, you know, the Northeast and Atlantic, all across and down through Northern Virginia, did not fare well, as everybody could go remote and leave—they were chasing the sunshine and chasing a lower cost of living. And so home price appreciation through COVID wasn't as much in Boston and Northern Virginia because demand wasn't as strong. Now that has completely flipped, and our strongest corridor is Boston,' Yearley said. Yearley added: 'There's less competition [in the Northeast]. The big public builders aren't here. There's very little land. So when you get the land, it's gold, and the resale markets are much tighter. I live on the Main Line of Philadelphia, in the suburbs of Philly. There's no inventory [here]. That's not true in Texas and Florida and other places where you have a lot of big public builders and a lot of land. So there's much more supply [in Texas and Florida]. But in the Boston and Northern Virginia corridor, it's very supply-constrained, and we [Toll Brothers] are doing really well [in the Northeast].' On the flip side, Toll Brothers—a publicly traded luxury homebuilder with an $11 billion market capitalization—is seeing the most softness in pandemic-era boomtowns across the Sun Belt, where unsold completed spec inventory has surged. Spec homes—short for speculative homes—are built without a buyer lined up, with the builder betting the home will sell once finished. 'On the softer side, you know, Florida inventories are up . . . parts of Texas inventories are up. Phoenix is still adjusting a bit with high inventories. A lot of that inventory for existing homes is builder spec, because all those markets have a lot of big builders there who are committed to a spec strategy,' Yearley said. Yearley doesn't think this spec overhang in boomtown areas in Arizona, Florida, and Texas will last forever. He's already starting to see some homebuilders pull back. 'As many as a third of the overhang on the resale market right now is actually new unsold spec. That'll clean up [over time] because the builders are starting fewer spec homes in the softer market, and I think that will naturally work its way out,' Yearley said. Despite near-term softness, Yearley remains bullish on the long-term fundamentals driving housing demand. 'We have 4 to 6 million too few homes in this country. We haven't built enough homes in the last 15 years to come close to satisfying demand,' he said. 'The tailwinds for the industry are great, but short-term pressure is real.' This post originally appeared at to get the Fast Company newsletter:
