Yes, orders fell 7.5% short of Consensus, but margins held up nicely and will leave the full year profitability ahead. What happens to 2026 estimates, though, in light of the major order miss? At some point Toll will likely have to concede additional margin to move product, but maybe rate cuts and a better affordability environment arrive just in time to fend that off.
Here is the full breakdown of Actuals vs. Consensus:
