Filing Flows › Toll Brothers (TOL) › Q2 FY26
Toll Brothers (TOL) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 29, 2026
Toll Brothers (TOL) reported revenue of $2.5B for the second quarter fiscal 2026 (Q2 FY26), -8% from a year earlier and +18% from the quarter before. Operating margin was 13.7%, net earnings $261M (10.3% of revenue).
Toll Brothers, Q2 FY26: revenue $2.5B (-8% year over year), operating margin 13.7%, net earnings $261M, operating cash flow $134M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +18% | -8% |
| Operating profit | $347M | +58% | -23% |
| Net earnings | $261M | +24% | -26% |
| Operating cash flow | $134M | 18× | -63% |
| Free cash flow | $110M | — | -68% |
What changed
Revenue was $2.5B in Q2 FY26, down 8% year over year and up 18% from the previous quarter. Home sales was the largest line at 99% of revenue. Home sales lost $0.19B year over year (down 7%), 93% of the total change.
Operating profit was $0.35B, a 13.7% margin (down 2.7 points year over year). Total costs fell 5% while revenue fell 8%. Net earnings were $0.26B, down 26% year over year. The effective tax rate was 25.6%.
Operating cash flow was $0.13B (down 63% year over year), 52% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items used $0.15B. Capital expenditures of $0.02B left free cash flow of $0.11B.
Questions
What was Toll Brothers' revenue in the second quarter fiscal 2026?
Toll Brothers (TOL) reported revenue of $2.5B for the second quarter fiscal 2026 (Q2 FY26), -8% from a year earlier and +18% from the quarter before.
Was Toll Brothers profitable in the second quarter fiscal 2026?
Operating profit was $347M (13.7% of revenue) and net earnings $261M.
Source: Toll Brothers 10-Q on SEC EDGAR.