Toll Brothers Inc Q1 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Susan Marie Maklari - Goldman Sachs Group, Inc., Research Division - Analyst : Thank you. My first question is just you commented on some of the work you're doing around the cost structure, looking at the broker policy spend in there. Can you give us a little more color on that? And maybe how we should be thinking about that flowing through over time?

Question: Susan Marie Maklari - Goldman Sachs Group, Inc., Research Division - Analyst : Okay. And then my follow-up question is the other big topic that people had been thinking about, of course, is inflation. And especially as we've seen lumber prices rising over the last couple of weeks and hitting record levels there, can you give us some color around how you're thinking about inflation this year? I know on the last call, you mentioned you expected it to be up about 5% between labor and materials. Has that changed at all? And if so, can you just talk to some of the movements in there?

Question: Susan Marie Maklari - Goldman Sachs Group, Inc., Research Division - Analyst : Got you. Okay. All right. So it sounds like generally speaking, maybe a little higher than that 5% or so, but nothing that you can't offset with the pricing? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 24, 2021 / 1:30PM, TOL.N - Q1 2021 Toll Brothers Inc Earnings Call