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{{Short description|American home builder}}
{{Short description|American home builder company}}
{{Advert|date=April 2021}}
{{Promotional|date=April 2021}}
{{Infobox company
{{Infobox company
| name = Toll Brothers, Inc.
| name = Toll Brothers, Inc.
| logo = Toll Brothers.svg
| logo = Toll Brothers.svg
| type = [[Public company]]
| type = [[Public company]]
| traded_as = {{nyse|TOL}}<BR>[[S&P 400]] Component
| traded_as = {{ubl|{{nyse|TOL}}|[[List of S&P 400 companies|S&P 400]] component}}
| industry = [[Home construction]]
| industry = [[Home construction]]
| founders = [[Robert I. Toll]]<br>[[Bruce E. Toll]]
| founders = {{ubl|[[Robert I. Toll]]|[[Bruce E. Toll]]}}
| foundation = {{Start date and age|1967}}
| foundation = {{Start date and age|1967}}
| hq_location = [[Fort Washington, Pennsylvania]]
| hq_location = [[Fort Washington, Pennsylvania]], U.S.
| key_people = Douglas C. Yearley, Jr., [[Chairman]] and [[Chief executive officer|CEO]]<ref name=10K>{{cite web|url=https://sec.report/Document/0000794170-20-000066/tol-20201031.htm|title=Toll Brothers, Inc. 2020 Form 10-K Annual Report|publisher=[[U.S. Securities and Exchange Commission]]}}</ref>
| key_people = Douglas C. Yearley, Jr. ([[Chairman]] and [[Chief executive officer|CEO]])
| production = 8,496 new home deliveries<ref name=10K/>
| production = 10,515 new home deliveries (2022)
| revenue = {{increase}} $6.94 billion (2020)<ref name=10K/>
| revenue = {{increase}} {{US$|10.28 billion|link=yes}} (2022)
| net_income = {{increase}} $446.6 million (2020)<ref name=10K/>
| operating_income = {{increase}} US$1.51 billion (2022)
| assets = {{increase}} $11.066 billion (2020)<ref name=10K/>
| net_income = {{increase}} US$1.29 billion (2022)
| equity = {{decrease}} $4.927 billion (2020)<ref name=10K/>
| assets = {{increase}} US$12.29 billion (2022)
| equity = {{increase}} US$6.01 billion (2022)
| num_employees = 4,500
| num_employees = 5,200
| num_employees_year = 2020
| num_employees_year = 2022
| homepage = {{URL|https://www.tollbrothers.com/}}
| homepage = {{URL|tollbrothers.com}}
| footnotes = <ref name=10K>{{cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/794170/000079417022000049/tol-20221031.htm|title=Toll Brothers, Inc. 2022 Form 10-K Annual Report|date=December 19, 2022|publisher=[[U.S. Securities and Exchange Commission]]}}</ref>
}}
}}


'''Toll Brothers''' is a company which designs, builds, markets, sells, and arranges financing for residential and commercial properties in the [[United States]].<ref>{{Cite web|title=tol-20201031|url=https://sec.report/Document/0000794170-20-000066/tol-20201031.htm|access-date=2021-03-29|website=sec.report}}</ref><ref>{{Cite web|title=TOL:New York Stock Quote - Toll Brothers Inc|url=https://www.bloomberg.com/quote/TOL:US|url-status=live|access-date=March 29, 2021|website=Bloomberg.com}}</ref> In 2020, the company was the 5th largest home builder in the United States, based on homebuilding revenue. The company is ranked 426th on the [[Fortune 500]].
'''Toll Brothers''' is a financial company, which finance for residential and commercial properties in the United States.<ref>{{Cite web|title=tol-20201031|url=https://sec.report/Document/0000794170-20-000066/tol-20201031.htm|access-date=2021-03-29|website=sec.report}}</ref><ref>{{Cite web|title=TOL:New York Stock Quote - Toll Brothers Inc|url=https://www.bloomberg.com/quote/TOL:US|access-date=March 29, 2021|website=Bloomberg.com}}</ref> In 2020, the company was the fifth largest home builder in the United States, based on homebuilding revenue. The company is ranked 411th on the [[Fortune 500|''Fortune'' 500]].


In 2020, the company sold homes at an average selling price of $816,500. Average prices ranged from $664,900 in the South region to $1,521,700 in the Pacific region.<ref>{{Cite web|date=March 29, 2021|title=2020 Annual Report|url=https://investors.tollbrothers.com/~/media/Files/T/TollBrothers-IR/documents/annual-reports/toll-brothers-annual-report-2020.pdf|url-status=live|access-date=March 29, 2021|website=investors.tollbrothers.com}}</ref>
In 2021, the company sold homes at an average selling price of $844,400. Average prices ranged from $663,700 in the South region to $1,376,800 in the Pacific region.<ref>{{Cite web|date=December 21, 2021|title=2021 Annual Report|url=https://investors.tollbrothers.com/~/media/Files/T/TollBrothers-IR/documents/annual-reports/final_annual%20report_12-21-21.pdf|access-date=December 21, 2021|website=investors.tollbrothers.com}}</ref> As of 2024, Toll Integrated Systems, A Toll Brothers Company, operates a manufacturing, assembly and distribution center located in Morrisville, Bucks County, Pennsylvania.<ref>https://www.tisbuildingsolutions.com/contact</ref>


== History ==
== History ==
Line 30: Line 32:
Toll Brothers was incorporated as a [[Delaware corporation]] with a public offering raising $40 million.<ref>{{Cite web|title=Toll Brothers Inc Facts, information, pictures {{!}} Encyclopedia.com articles about Toll Brothers Inc|url=http://www.encyclopedia.com/topic/Toll_Brothers_Inc.aspx|website=www.encyclopedia.com|access-date=February 10, 2016}}</ref>
Toll Brothers was incorporated as a [[Delaware corporation]] with a public offering raising $40 million.<ref>{{Cite web|title=Toll Brothers Inc Facts, information, pictures {{!}} Encyclopedia.com articles about Toll Brothers Inc|url=http://www.encyclopedia.com/topic/Toll_Brothers_Inc.aspx|website=www.encyclopedia.com|access-date=February 10, 2016}}</ref>


In addition to luxury [[Single-family detached home|single-family]], [[carriage house]]/[[townhouse]] and [[condominium]] residences, Toll Brothers offers luxury rental apartments (Apartment Living division) and luxury student housing (Campus Living division). They also operate various ancillary businesses including [[mortgage]], [[insurance]], [[home automation|home automation/security]], and [[landscaping]].
In addition to [[Single-family detached home|single-family]], [[carriage house]]/[[townhouse]] and [[Condominium (living space)|condominium]] residences, Toll Brothers offers rental apartments (Apartment Living division) and luxury student housing (Campus Living division). They also operate various ancillary businesses including [[mortgage]], [[insurance]], [[home automation|home automation/security]], and [[landscaping]]. Many details of the Toll Brothers story are presented in a Wikipedia article about [[Bruce E. Toll]].


== Executives ==
== Executives ==
[[Robert I. Toll|Robert Toll]] stepped down as Chairman in 2018 and currently serves exclusively as Special Advisor to the company.<ref>{{Cite web|title=Board of Directors|url=https://investors.tollbrothers.com/corporate-governance/board-of-directors|access-date=2021-03-29|website=investors.tollbrothers.com|language=en}}</ref>
[[Robert I. Toll|Robert Toll]] stepped down as chairman in 2018 and served exclusively as special advisor to the company.<ref>{{Cite web|title=Board of Directors|url=https://investors.tollbrothers.com/corporate-governance/board-of-directors|access-date=2021-03-29|website=investors.tollbrothers.com|language=en}}</ref>


Douglas C. Yearley, Jr. joined Toll Brothers in 1990 and was promoted as Chief Executive Officer in June 2010 and currently holds the position of Chairman and Chief Executive Officer.<ref name="Department">{{Cite web|last=Department|first=Toll Brothers, Inc. Internal Web|title=Toll Brothers - Senior Management|url=https://investors.tollbrothers.com/corporate-governance/senior-management|url-status=live|access-date=March 29, 2021|website=investors.tollbrothers.com}}</ref> Doug also serves as Co-Chair of the Pennsylvania Chapter of [[American Cancer Society]]'s CEO's Against Cancer.<ref>{{Cite web|title = The American Cancer Society: Philadelphia CEOs Against Cancer|url = http://main.acsevents.org/site/TR/Gala/GalaFY10Pennsylvania?pg=entry&fr_id=76187|website = main.acsevents.org|access-date = February 13, 2016}}</ref>
Douglas C. Yearley Jr. joined Toll Brothers in 1990 and was promoted as chief executive officer in June 2010 and currently holds the position of chairman and chief executive officer.<ref name="Department">{{Cite web|last=Department|first=Toll Brothers, Inc. Internal Web|title=Toll Brothers - Senior Management|url=https://investors.tollbrothers.com/corporate-governance/senior-management|access-date=March 29, 2021|website=investors.tollbrothers.com}}</ref> Doug also serves as co-chair of the Pennsylvania Chapter of [[American Cancer Society]]'s CEO's Against Cancer.<ref>{{Cite web|title = The American Cancer Society: Philadelphia CEOs Against Cancer|url = http://main.acsevents.org/site/TR/Gala/GalaFY10Pennsylvania?pg=entry&fr_id=76187|website = main.acsevents.org|access-date = February 13, 2016}}</ref>
Martin Connor was hired as Chief Financial Officer in 2010.<ref name="Department"/>
Martin Connor was hired as chief financial officer in 2010.<ref name="Department"/>


James Boyd and Robert Parahus were promoted to Co-Chief Operating Officers and Executive Vice Presidents in 2019.<ref name="Department"/>
Robert Parahus was promoted to chief operating officer and executive president in 2020.<ref name="Department"/>


== Acquisitions ==
== Acquisitions ==
Toll Brothers has made thirteen acquisitions since 1995: West Texas Woodlands
Toll Brothers has made thirteen acquisitions since 1995:<ref>{{Cite web|title=Financial FAQs|url=https://investors.tollbrothers.com/resources/financial-faqs|access-date=2021-03-29|website=investors.tollbrothers.com|language=en}}</ref>
* West Texas Woodlands
* Geoffrey H. Edmunds in Scottsdale, Arizona (1995)
Geoffrey H. Edmunds in Scottsdale, Arizona (1995), Coleman Homes' Las Vegas Division (1998), Silverman Homes in metro Detroit (1999), Richard R. Dostie (2003) and The Manhattan Building Company (2003) in northern New Jersey, the central Florida Division of Landstar Homes (2005), CamWest Development in Seattle, Washington (2011), Shapell Industries in California (2014), Coleman Homes in Boise, Idaho (2016), Sharp Residential in Atlanta, Georgia (2019), Sabal Homes in South Carolina (2019), Thrive Residential in Nashville and Atlanta (2020) and Keller Homes in Colorado Springs (2020).<ref>{{Cite web|title=Financial FAQs|url=https://investors.tollbrothers.com/resources/financial-faqs|access-date=2021-03-29|website=investors.tollbrothers.com|language=en}}</ref>
* Coleman Homes' Las Vegas Division (1998)
* Silverman Homes in metro Detroit (1999)
* Richard R. Dostie (2003) and The Manhattan Building Company (2003) in northern New Jersey
* the central Florida Division of Landstar Homes (2005)
* CamWest Development in Seattle, Washington (2011)
* Shapell Industries in California (2014)
* Coleman Homes in Boise, Idaho (2016)
* Sharp Residential in Atlanta, Georgia (2019)
* Sabal Homes in South Carolina (2019)
* Thrive Residential in Nashville and Atlanta (2020)
* Keller Homes in Colorado Springs (2020)


== Awards ==
==Disputes==
Toll brothers has a 1.3/5 score on consumeraffairs.org [https://www.consumeraffairs.com/housing/toll-brothers.html Toll Brothers on Consumer Affairs]. Common complaints are regarding quality and warranty service.
In 2014 Builder Magazine and in 2012 [[Professional Builder]] Magazine named Toll Brothers 'Builder of the Year'.


⚫
Toll Brothers was sued in April 2007 by a group of investors claiming they were misled by directors about their ability to maintain historically high earnings during the downturn in the U.S. residential real estate market.<ref>{{Cite web|url=https://www.sedgwicklaw.com/credit-crunch-digest-12-29-2010/|title=Credit Crunch Digest}}</ref> Toll Brothers agreed to settle the suit for $25 million, though they did not admit any wrongdoing.<ref name=pearson2010/>
In 2016, Toll Brothers takes the #1 spot for the honors of the "World's Most Admired Company/Home Builders" by ''FORTUNE'' magazine and "America's Most Trusted Builder" by ''Lifestory Research''.<ref>{{Cite web|title=Lifestory Research Reports: Toll Brothers Recognized by Home Shoppers as America’s Most Trusted Home Builder 2015|url=https://www.prweb.com/releases/2015/01/prweb12454351.htm|access-date=2021-03-29|website=PRWeb}}</ref>


⚫
The project gained notoriety in 2007 when a kettle of roofing tar on the top level caught fire during construction and although quickly contained produced a significant amount of smoke.<ref name="dobkin2007" /> After meeting with the residents Toll Brothers agreed to fix the seals.<ref>{{Cite web|title = Disgruntled Northside Piers Buyers Declare War on Toll Brothers|url = http://ny.curbed.com/archives/2011/03/24/disgruntled_northside_piers_buyers_declare_war_on_toll_brothers.php|website = Curbed NY| date=24 March 2011 |access-date = February 11, 2016}}</ref> Toll Brothers sued the contractor who installed the windows for $10 million.<ref>{{Cite web|title = Toll Bros. sues contractors at One Northside Piers for $10 million|url = http://therealdeal.com/2012/04/13/toll-bros-sues-contractors-at-one-northside-piers-for-10m/|website = The Real Deal New York|access-date = February 11, 2016|first = Adam|last = Pincus| date=13 April 2012 }}</ref>
In 2020, Toll Brothers was named the #1 Most Admired Home Builder for the sixth consecutive year in the ''FORTUNE'' magazine survey of the World’s Most Admired Companies.<ref>{{Cite web|title=Toll Brothers|url=https://fortune.com/worlds-most-admired-companies/2020/search/?industry=asc|url-status=live|access-date=March 29, 2021|website=Fortune|language=en-US}}</ref>


⚫
In 2012, the company was required to pay a penalty of $741,000 for numerous alleged violations of the [[Clean Water Act]], including more than 600 relating to runoff of stormwater at its building sites, among them sites in the [[Chesapeake Bay Watershed]].<ref name=EPA/> Toll Brothers agreed to implement storm-water training and prevention techniques across the entire company.<ref>{{Cite web|title = Toll Brothers settles with EPA - Public Spirit Willow Grove Guide - Montgomery News|url = http://www.montgomerynews.com/articles/2012/06/21/public_spirit_willow_grove_guide/news/doc4fe36d3704eaf001222989.txt|website = Montgomery Media|access-date = February 11, 2016}}</ref>
==Disputes==
⚫
Toll Brothers was sued in April 2007 by a group of investors claiming they were misled by directors about their ability to maintain historically high-earnings during the downturn in the U.S. residential real estate market.<ref>{{Cite web|url=https://www.sedgwicklaw.com/credit-crunch-digest-12-29-2010/|title=Credit Crunch Digest}}</ref> Toll Brothers agreed to settle the suit for $25 million, though they did not admit any wrongdoing.<ref name=pearson2010/>


The Toll Brothers have also filed lawsuits over denial of building permits over concerns about traffic density, watershed and other concerns<ref>{{cite web | url=https://www.inquirer.com/news/pennsylvania/crebilly-farm-toll-brothers-development-chester-county-pa-commonwealth-court-20190503.html | title=Two years in, Chester County residents maintain fight against Toll Bros. Over Revolution-era farmland | date=3 May 2019 }}</ref><ref>{{cite web | url=https://law.justia.com/cases/pennsylvania/superior-court/2013/329-eda-2013.html | title=Toll Bros., Inc. V. Upper Uwchlan Township (Memorandum) }}</ref>
⚫
Six residents at the Northside Piers development complained of faulty window seals that leaked in air and rain when windy.<ref name="calder2011" /> The project gained notoriety in 2007 when a kettle of roofing tar on the top level caught fire during construction and although quickly contained produced a significant amount of smoke.<ref name="dobkin2007" /> After meeting with the residents Toll Brothers agreed to fix the seals.<ref>{{Cite web|title = Disgruntled Northside Piers Buyers Declare War on Toll Brothers|url = http://ny.curbed.com/archives/2011/03/24/disgruntled_northside_piers_buyers_declare_war_on_toll_brothers.php|website = Curbed NY|access-date = February 11, 2016}}</ref> Toll Brothers sued the contractor who installed the windows for $10 million.<ref>{{Cite web|title = Toll Bros. sues contractors at One Northside Piers for $10 million|url = http://therealdeal.com/2012/04/13/toll-bros-sues-contractors-at-one-northside-piers-for-10m/|website = The Real Deal New York|access-date = February 11, 2016|first = Adam|last = Pincus}}</ref>

⚫
In 2012, the company was required to pay a penalty of $741,000 for numerous alleged violations of the [[Clean Water Act]], including more than 600 relating to runoff of stormwater at its building sites, among them sites in the [[Chesapeake Bay Watershed]].<ref name=EPA/> Toll Brothers agreed to implement storm-water training and prevention techniques across the entire company.<ref>{{Cite web|title = Toll Brothers settles with EPA - Public Spirit Willow Grove Guide - Montgomery News|url = http://www.montgomerynews.com/articles/2012/06/21/public_spirit_willow_grove_guide/news/doc4fe36d3704eaf001222989.txt|website = Montgomery Media|access-date = February 11, 2016}}</ref>


==References==
==References==
{{reflist|refs=
{{reflist|refs=

<!--ref name=annualreport2020>{{Citation|year=2020|title=2020 Annual Report|publisher=Toll Brothers|url=https://investors.tollbrothers.com/~/media/Files/T/TollBrothers-IR/documents/annual-reports/toll-brothers-annual-report-2020.pdf}}</ref-->

<ref name=calder2011>{{Citation|last=Calder|first=Rich|date=March 23, 2011|title=Williamsburg waterfront condo residents complain of 'shoddy' construction|newspaper=[[New York Post]]|at=nypost.com|url=http://www.nypost.com/p/news/local/brooklyn/williamsburg_waterfront_condo_residents_PtEt4zzFD2qR6QDJAt6kRO}}</ref>

<!--ref name=corpprofile2021>{{Citation|date=January 2021|title=Corporate Profile|publisher=Toll Brothers|url=https://investors.tollbrothers.com/~/media/Files/T/TollBrothers-IR/documents/Corporate%20Profile/TOL-%20Corporate%20Profile_Q1%202021%20v2.pdf}}</ref-->


<ref name=dobkin2007>{{Citation|last=Dobkin|first=Jak|date=September 26, 2007|title=Williamsburg Condo Market Going up in Flames|type=blog|work=Gothamist|publisher=[[Gothamist]]|url=http://gothamist.com/2007/09/26/williamsburg_co.php|url-status=dead|archive-url=https://web.archive.org/web/20081207005944/http://gothamist.com/2007/09/26/williamsburg_co.php|archive-date=December 7, 2008|df=mdy-all}}</ref>
<ref name=dobkin2007>{{Citation|last=Dobkin|first=Jak|date=September 26, 2007|title=Williamsburg Condo Market Going up in Flames|type=blog|work=Gothamist|publisher=[[Gothamist]]|url=http://gothamist.com/2007/09/26/williamsburg_co.php|url-status=dead|archive-url=https://web.archive.org/web/20081207005944/http://gothamist.com/2007/09/26/williamsburg_co.php|archive-date=December 7, 2008|df=mdy-all}}</ref>

<!--ref name=kosteini2011>{{Citation|last=Kosteini|first=Natalie |publication-date=November 8, 2011|title=Toll Bros. revenue grows 6%|periodical=[[Philadelphia Business Journal]]|at=Morning Roundup|access-date=December 9, 2011|url=http://www.bizjournals.com/philadelphia/morning_roundup/2011/11/toll-bros-revenue-grows-6.html?s=newsletter&ed=2011-11-08 }}</ref-->


<ref name=pearson2010>{{Citation|last=Pearson|first=Sophia|date=November 2, 2010|title=Toll to Pay $25 Million to End Lawsuit Alleging Company Misled Investors|work=bloomberg.com|publisher=[[Bloomberg L.P.]]|url=https://www.bloomberg.com/news/2010-11-02/toll-brothers-to-pay-25-million-to-end-lawsuit-alleging-investors-misled.html}}</ref>
<ref name=pearson2010>{{Citation|last=Pearson|first=Sophia|date=November 2, 2010|title=Toll to Pay $25 Million to End Lawsuit Alleging Company Misled Investors|work=bloomberg.com|publisher=[[Bloomberg L.P.]]|url=https://www.bloomberg.com/news/2010-11-02/toll-brothers-to-pay-25-million-to-end-lawsuit-alleging-investors-misled.html}}</ref>
Line 76: Line 78:
<ref name=EPA>{{Citation|date=June 20, 2012|url=http://yosemite.epa.gov/opa/admpress.nsf/d0cf6618525a9efb85257359003fb69d/3f7e2d8a276ec4b285257a2300607c35!OpenDocument|title=Homebuilder Toll Brothers Inc. to Pay $741,000 Clean Water Act Penalty and Implement Company-Wide Stormwater Controls / Settlement to Prevent Millions of Pounds of Sediment and Polluted Stormwater Runoff from Entering U.S. Waterways Each Year|publisher=United States Environmental Protection Agency|access-date=February 10, 2016}}</ref>
<ref name=EPA>{{Citation|date=June 20, 2012|url=http://yosemite.epa.gov/opa/admpress.nsf/d0cf6618525a9efb85257359003fb69d/3f7e2d8a276ec4b285257a2300607c35!OpenDocument|title=Homebuilder Toll Brothers Inc. to Pay $741,000 Clean Water Act Penalty and Implement Company-Wide Stormwater Controls / Settlement to Prevent Millions of Pounds of Sediment and Polluted Stormwater Runoff from Entering U.S. Waterways Each Year|publisher=United States Environmental Protection Agency|access-date=February 10, 2016}}</ref>


}}
<!--<ref name=10k2012>{{Citation|author=Toll Brothers|publication-date=March 29, 2021|title=TOLL BROTHERS, INC.|series=10-K|publisher=[[U.S. Securities and Exchange Commission]]|url=https://sec.report/Document/0000794170-20-000066/tol-20201031.htm|access-date=December 22, 2020}}</ref-->}}

{{Philadelphia Corporations}}
{{Philadelphia Corporations}}
{{S&P 400 companies}}

{{Authority control}}
{{Authority control}}


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[[Category:Construction and civil engineering companies established in 1967]]
[[Category:Construction and civil engineering companies established in 1967]]
[[Category:1967 establishments in Pennsylvania]]
[[Category:1967 establishments in Pennsylvania]]
[[Category:Companies in the S&P 400]]

Latest revision as of 16:57, 13 December 2024

Toll Brothers, Inc.
Company typePublic company
IndustryHome construction
Founded1967; 57 years ago (1967)
Founders
HeadquartersFort Washington, Pennsylvania, U.S.
Key people
Douglas C. Yearley, Jr. (Chairman and CEO)
Production output
10,515 new home deliveries (2022)
RevenueIncrease US$10.28 billion (2022)
Increase US$1.51 billion (2022)
Increase US$1.29 billion (2022)
Total assetsIncrease US$12.29 billion (2022)
Total equityIncrease US$6.01 billion (2022)
Number of employees
5,200 (2022)
Websitetollbrothers.com
Footnotes / references
[1]

Toll Brothers is a financial company, which finance for residential and commercial properties in the United States.[2][3] In 2020, the company was the fifth largest home builder in the United States, based on homebuilding revenue. The company is ranked 411th on the Fortune 500.

In 2021, the company sold homes at an average selling price of $844,400. Average prices ranged from $663,700 in the South region to $1,376,800 in the Pacific region.[4] As of 2024, Toll Integrated Systems, A Toll Brothers Company, operates a manufacturing, assembly and distribution center located in Morrisville, Bucks County, Pennsylvania.[5]

History

[edit]

Toll Brothers was founded in 1967 in Pennsylvania by Robert I. Toll and Bruce E. Toll. Robert received a law degree from University of Pennsylvania and his B.A. from Cornell University, while his brother Bruce had an accounting degree from the University of Miami. Their father, Albert, built homes and the brothers believed that the new home industry had more to offer. Bruce was 26 and Robert was 27 at the time.[6]

Toll Brothers was incorporated as a Delaware corporation with a public offering raising $40 million.[7]

In addition to single-family, carriage house/townhouse and condominium residences, Toll Brothers offers rental apartments (Apartment Living division) and luxury student housing (Campus Living division). They also operate various ancillary businesses including mortgage, insurance, home automation/security, and landscaping. Many details of the Toll Brothers story are presented in a Wikipedia article about Bruce E. Toll.

Executives

[edit]

Robert Toll stepped down as chairman in 2018 and served exclusively as special advisor to the company.[8]

Douglas C. Yearley Jr. joined Toll Brothers in 1990 and was promoted as chief executive officer in June 2010 and currently holds the position of chairman and chief executive officer.[9] Doug also serves as co-chair of the Pennsylvania Chapter of American Cancer Society's CEO's Against Cancer.[10] Martin Connor was hired as chief financial officer in 2010.[9]

Robert Parahus was promoted to chief operating officer and executive president in 2020.[9]

Acquisitions

[edit]

Toll Brothers has made thirteen acquisitions since 1995:[11]

  • West Texas Woodlands
  • Geoffrey H. Edmunds in Scottsdale, Arizona (1995)
  • Coleman Homes' Las Vegas Division (1998)
  • Silverman Homes in metro Detroit (1999)
  • Richard R. Dostie (2003) and The Manhattan Building Company (2003) in northern New Jersey
  • the central Florida Division of Landstar Homes (2005)
  • CamWest Development in Seattle, Washington (2011)
  • Shapell Industries in California (2014)
  • Coleman Homes in Boise, Idaho (2016)
  • Sharp Residential in Atlanta, Georgia (2019)
  • Sabal Homes in South Carolina (2019)
  • Thrive Residential in Nashville and Atlanta (2020)
  • Keller Homes in Colorado Springs (2020)

Disputes

[edit]

Toll brothers has a 1.3/5 score on consumeraffairs.org Toll Brothers on Consumer Affairs. Common complaints are regarding quality and warranty service.

Toll Brothers was sued in April 2007 by a group of investors claiming they were misled by directors about their ability to maintain historically high earnings during the downturn in the U.S. residential real estate market.[12] Toll Brothers agreed to settle the suit for $25 million, though they did not admit any wrongdoing.[13]

The project gained notoriety in 2007 when a kettle of roofing tar on the top level caught fire during construction and although quickly contained produced a significant amount of smoke.[14] After meeting with the residents Toll Brothers agreed to fix the seals.[15] Toll Brothers sued the contractor who installed the windows for $10 million.[16]

In 2012, the company was required to pay a penalty of $741,000 for numerous alleged violations of the Clean Water Act, including more than 600 relating to runoff of stormwater at its building sites, among them sites in the Chesapeake Bay Watershed.[17] Toll Brothers agreed to implement storm-water training and prevention techniques across the entire company.[18]

The Toll Brothers have also filed lawsuits over denial of building permits over concerns about traffic density, watershed and other concerns[19][20]

References

[edit]
  1. ^ "Toll Brothers, Inc. 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission. December 19, 2022.
  2. ^ "tol-20201031". sec.report. Retrieved 2021-03-29.
  3. ^ "TOL:New York Stock Quote - Toll Brothers Inc". Bloomberg.com. Retrieved March 29, 2021.
  4. ^ "2021 Annual Report" (PDF). investors.tollbrothers.com. December 21, 2021. Retrieved December 21, 2021.
  5. ^ https://www.tisbuildingsolutions.com/contact
  6. ^ "History of Toll Brothers Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved February 10, 2016.
  7. ^ "Toll Brothers Inc Facts, information, pictures | Encyclopedia.com articles about Toll Brothers Inc". www.encyclopedia.com. Retrieved February 10, 2016.
  8. ^ "Board of Directors". investors.tollbrothers.com. Retrieved 2021-03-29.
  9. ^ a b c Department, Toll Brothers, Inc. Internal Web. "Toll Brothers - Senior Management". investors.tollbrothers.com. Retrieved March 29, 2021.{{cite web}}: CS1 maint: multiple names: authors list (link)
  10. ^ "The American Cancer Society: Philadelphia CEOs Against Cancer". main.acsevents.org. Retrieved February 13, 2016.
  11. ^ "Financial FAQs". investors.tollbrothers.com. Retrieved 2021-03-29.
  12. ^ "Credit Crunch Digest".
  13. ^ Pearson, Sophia (November 2, 2010), "Toll to Pay $25 Million to End Lawsuit Alleging Company Misled Investors", bloomberg.com, Bloomberg L.P.
  14. ^ Dobkin, Jak (September 26, 2007), "Williamsburg Condo Market Going up in Flames", Gothamist (blog), Gothamist, archived from the original on December 7, 2008
  15. ^ "Disgruntled Northside Piers Buyers Declare War on Toll Brothers". Curbed NY. 24 March 2011. Retrieved February 11, 2016.
  16. ^ Pincus, Adam (13 April 2012). "Toll Bros. sues contractors at One Northside Piers for $10 million". The Real Deal New York. Retrieved February 11, 2016.
  17. ^ Homebuilder Toll Brothers Inc. to Pay $741,000 Clean Water Act Penalty and Implement Company-Wide Stormwater Controls / Settlement to Prevent Millions of Pounds of Sediment and Polluted Stormwater Runoff from Entering U.S. Waterways Each Year, United States Environmental Protection Agency, June 20, 2012, retrieved February 10, 2016
  18. ^ "Toll Brothers settles with EPA - Public Spirit Willow Grove Guide - Montgomery News". Montgomery Media. Retrieved February 11, 2016.
  19. ^ "Two years in, Chester County residents maintain fight against Toll Bros. Over Revolution-era farmland". 3 May 2019.
  20. ^ "Toll Bros., Inc. V. Upper Uwchlan Township (Memorandum)".
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