Toro Co. Earnings: Everything You Must Know Now

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Toro Co. (NYSE:TTC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Toro Co. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 16.81% to $1.32 in the quarter versus EPS of $1.13 in the year-earlier quarter.

Revenue: Rose 1.88% to $704.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Toro Co. reported adjusted EPS income of $1.32 per share. By that measure, the company beat the mean analyst estimate of $1.19. It beat the average revenue estimate of $700.35 million.

Quoting Management: “We achieved record sales and earnings in the quarter, despite this year’s challenging weather pattern compared to a year ago,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “In 2012, we enjoyed ideal spring conditions with a warm, early start to the season, while this year much of North America and Europe have dealt with unusually cold weather. These conditions delayed sales, especially of our residential products which are more immediately impacted by weather. Improved market conditions for some of our professional customers, combined with new products and solid execution, fueled shipment growth that offset the delay of our residential shipments. Through the first six months, our golf and micro irrigation businesses have been strong, and our professional sales in Europe and Asia are ahead of last year. While our earnings benefited from mix and timing, I’m pleased to see our productivity efforts yielding results on the path to our Destination 2014 operating earnings goal.”

Key Stats (on next page)…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business