UPDATE: Toll Brothers Reports Rise In Q3 Profit

Toll Brothers Inc TOL reported a higher Q3 profit, but narrowed its home delivery outlook for the year. Toll Brothers reported its quarterly earnings at $42.1 million, or $0.25 per share, up from $27.3 million, or $0.16 per share, in the year-ago period. Excluding items, Toll Brothers' pretax income climbed to $24.1 million from $14 million. Its revenue dropped 13% to $394.3 million, versus analysts' estimates of $403.6 million. Toll Brothers' deliveries dropped 14% to 693 units. Toll Brothers shares dropped 1.07% to close at $14.74 yesterday.