Toro Lifts Outlook as 3Q Sales, Profit Rise

Dow Jones
Sep 03
 

Toro lifted its full-year outlook after reporting a higher profit and sales growth in the third quarter.

The outdoor equipment company said it now expects full-year sales to rise between 6.3% and 6.6%, up from a range of 4% to 6.5%. Toro also projected adjusted earnings between $4.60 and $4.65, up from its prior view of $4.50 to $4.62.

Analysts polled by FactSet currently expect full-year adjusted earnings of $4.61 a share on $4.76 billion in sales, representing 5.6% growth.

The company on Thursday reported a profit of $77 million, or 81 cents a share. That compares with a profit of $53.5 million, or 54 cents a share, a year earlier.

Stripping out certain one-time items, adjusted earnings were $1.33 a share. Analysts were expecting $1.31 a share.

Sales rose to $1.23 billion, up from $1.13 billion a year earlier. Analysts expected $1.19 billion in sales.

 
 

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