Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of
luxury homes, and Sunrun Inc., America’s #1 home solar and storage
provider, today announced a new national partnership for
Sunrun to provide solar power and storage to Toll Brothers homes.
Sunrun and Toll Brothers have an exclusive agreement for Sunrun to
provide solar power as an included feature in all Toll Brothers
homes in California, as well as a preferred agreement to provide
solar for additional Toll Brothers divisions nationwide.
As part of the agreement, Sunrun will serve as a “one-stop shop”
to provide solar as a standard feature in all Toll Brothers
communities in California, including sales, design, permitting,
installation, customer care, and warranty. Sunrun also provides
home buyers with the choice of a third-party battery storage
system, including EnPhase or the Tesla Powerwall 3, to integrate
with their provided residential solar system.
“We are pleased to announce this new agreement with Sunrun as
our national solar and storage partner, providing our home buyers
with state-of-the-art options for clean, reliable power in their
new homes,” said Seth Ring, Executive Vice President of Toll
Brothers. “Since 2015, Toll Brothers has been committed to
incorporating solar into our communities in California and beyond,
and we are excited to continue this commitment to innovation and
our environment with Sunrun.”
Under the agreement, Sunrun solar products could also be offered
to Toll Brothers homebuyers in additional markets as an option or
as a standard (included) feature financed with the home. In certain
markets, where third-party ownership (via a Leasing and Power
Purchase Agreement) is allowed and available, solar can be added to
the home at no cost to the homebuyer.
“Toll Brothers already offers solar power options in a number of
additional markets nationwide, including Massachusetts, Nevada,
Arizona, and more,” added Ring. “This new agreement with Sunrun
provides an excellent framework to expand that reach and promote
solar and storage programs to our homebuyers nationwide.”
Founded in 2007, Sunrun has completed solar installation on over
one million homes nationwide.
About Toll BrothersToll
Brothers, Inc., a Fortune 500 Company, is the nation’s leading
builder of luxury homes. The Company was founded 57 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,
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.
In 2024, Toll Brothers marked 10 years in a row being named to
the Fortune World’s Most Admired Companies™ list and 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 TollBrothers.com.
From Fortune, ©2024 Fortune Media IP Limited. All rights
reserved. Used under license.
FORWARD-LOOKING STATEMENTS
Information presented herein for the third
quarter ended July 31, 2024 is subject to finalization of the
Company’s regulatory filings, related financial and accounting
reporting procedures and external auditor procedures.
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 and
statements regarding: expectations regarding inflation and interest
rates; the markets in which we operate or may operate; our
strategic priorities; our land acquisition, land development and
capital allocation priorities; market conditions; demand for our
homes; our build-to-order and spec home strategy; anticipated
operating results and guidance; home deliveries; financial
resources and condition; changes in revenues; changes in
profitability; changes in margins; changes in accounting treatment;
cost of revenues, including expected labor and material costs;
selling, general, and administrative expenses; interest expense;
inventory write-downs; home warranty and construction defect
claims; unrecognized tax benefits; anticipated tax refunds; sales
paces and prices; effects of home buyer cancellations; growth and
expansion; joint ventures in which we are involved; anticipated
results from our investments in unconsolidated entities; our
ability to acquire or dispose of 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; and
the outcome of legal proceedings, investigations, and claims.
Any or all of the forward-looking statements
included in this release are not guarantees of future performance
and may turn out to be inaccurate. This can occur as a result of
incorrect assumptions or as a consequence of known or unknown risks
and uncertainties. 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, inflation rates, interest and mortgage rates, 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, home components and
labor;
- 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, environment 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;
- 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, 2023 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 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)
328-7634hreeves@tollbrothers.com
CONTACT: Gregg Ziegler, (215)
478-3820gziegler@tollbrothers.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bdacba39-8613-460f-9704-28de3455bbd1
Toll Brothers (NYSE:TOL)
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부터 9월(9) 2024 으로 10월(10) 2024
Toll Brothers (NYSE:TOL)
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