Toll Brothers (TOL) Q2 2026 Earnings Transcript

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DATE

May 20, 2026, 8:30 a.m. ET

CALL PARTICIPANTS

• Executive Chairman — Douglas Yearley

• Chief Executive Officer — Karl Mistry

• Chief Financial Officer — Gregg Ziegler

• President and Chief Operating Officer — Rob Parahus

• Chief Marketing Officer — Wendy Marlett

• Incoming President and Chief Operating Officer — Seth Ring

Full Conference Call Transcript

Douglas Yearley: Thank you, Bailey. Good morning. Welcome, and thank you all for joining us. With me today are Karl Mistry, Chief Executive Officer; Gregg Ziegler, Chief Financial Officer; Rob Parahus, President and Chief Operating Officer; and Wendy Marlett, Chief Marketing Officer. We are also joined today by Seth Ring, who will succeed Rob as President and Chief Operating Officer when Rob retires on June 30 and transitions to his new role as a Senior Adviser to the company. Rob has been an invaluable leader and contributor to the company's growth and transformation over the past 4 years, and I wish him well in his retirement.

He has always done a great job of helping to mentor the next generation of leadership, working closely with that to [indiscernible] new role. Seth is a proven leader and industry veteran, so in his own right with over 20 years of experience with the company is just terrific. He is the perfect successor to Rob, and I'm excited to watch as he partners with Karl and Gregg to help lead this company into the future. During today's call, I will provide a brief overview of our results in the quarter, discuss the market at a macro level and touch on our strategic initiatives.

Karl will focus on our operational results and provide a deeper dive on conditions across our markets. And as usual, Gregg will provide a detailed review of our financial results in the quarter and discuss guidance for the balance of the year. Before we start, however, I will provide the usual cautionary notice that many statements on this call are forward-looking based on assumptions about the economy, world events, housing and financial markets, interest rates, the availability of labor and materials, inflation and many other factors beyond our control that could significantly affect future results.

Please read our statement on forward-looking information in our earnings release of last night and on our website to better understand the risks associated with our forward-looking statements. We are very pleased with our second quarter results. We beat guidance on both the top and bottom lines and posted another quarter of strong margins. Based on our first half performance, we are raising our full year guidance across all key homebuilding metrics. Our results in the second quarter reflect our unique position as America's luxury homebuilder as well as the success of our strategies of expanding our geographies, product lines and price points.