Wed, Jul 9, 2014, 8:14 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Toro Co. Message Board

  • drmicrocaps drmicrocaps Jul 2, 2013 10:45 PM Flag

    2nd Quarter Results

    The Toro Company Reports Record Second Quarter Results

    • Sales increase to record $704 million for the quarter
    • Quarterly net earnings per share up 17 percent to a record $1.32
    • Late spring impacts momentum in quarter
    • Company tempers sales growth expectations and maintains earnings outlook
    The Toro Company (TTC) today reported net earnings of $78.4 million, or $1.32 per share, on a net sales increase of 1.9 percent to $704.5 million for its fiscal second quarter ended May 3, 2013. In the comparable fiscal 2012 period, the company delivered net earnings of $68.8 million, or $1.13 per share, on net sales of $691.5 million.

    For the first six months, Toro reported net earnings of $109.8 million, or $1.85 per share, on a net sales increase of 3 percent to $1,149.1 million. In the comparable fiscal 2012 period, the company posted net earnings of $88.7 million, or $1.46 per share, on net sales of $1,115.3 million.

    “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

    Sentiment: Buy

 
TTC
62.89+0.12(+0.19%)Jul 9 4:01 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.