As coronavirus battered the residential market, Toll Brothers said its second-quarter profits dropped nearly 42 percent from a year ago, to $75.7 million. The luxury home builder reported that signed contracts dipped 22 percent as buyers complied with stay-home orders. Home sale revenue was $1.52 billion, down 11 percent from $1.71 billion in the second quarter of 2019. The results were a reflection of “complex and challenging” circumstances sparked by the pandemic, CEO Douglas Yearley
source https://therealdeal.com/2020/05/28/pandemic-takes-a-toll-builders-profits-drop-42/
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