The Toro Company is a leading manufacturer and marketer of equipment and outdoor products for professional and residential use
They specialize in the design and production of a wide range of lawn care and landscaping equipment, including mowers, snow removal equipment, irrigation systems, and garden care products. With a strong focus on innovation and sustainability, Toro is committed to providing high-quality solutions that help customers maintain and enhance their outdoor spaces. The company serves a diverse array of markets, including landscape contractors, agricultural producers, and homeowners, and is recognized for its dedication to performance, efficiency, and customer satisfaction.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the agricultural machinery industry, including The Toro Company (NYSETTC) and its peers.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at agricultural machinery stocks, starting with Alamo (NYSEALG).
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the agricultural machinery industry, including Deere (NYSEDE) and its peers.
Outdoor equipment company Toro (NYSETTC) missed Wall Street’s revenue expectations in Q3 CY2024, but sales rose 9.4% year on year to $1.08 billion. Its non-GAAP profit of $0.95 per share was in line with analysts’ consensus estimates.
Toro reported lower-than-expected Q4 sales and earnings. Residential segment sales rose 4.5% but reported a loss. Professional segment sales rose 10.3% and earnings rose 36.3%. Adjusted gross margin and operating margin decreased. Company expects 0%-1% sales growth and adjusted EPS of $4.25-$4.40.
Signs of a cooling labor market last month pushed major U.S. stock averages lower on Thursday, ahead of the highly anticipated August jobs report set for release on Friday.
Toro Co shares down after reporting Q3 results with sales increase of 6.9% but missing consensus, adjusted gross margin and operating margin up, adjusted EPS misses and lower FY24 outlook due to caution from homeowners and lawn care dealers.
