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Toro Co. Message Board

  • drmicrocaps drmicrocaps Feb 20, 2014 9:01 AM Flag

    2nd Quarter Reults

    The Toro Company Reports First Quarter Results
    First quarter sales grow to $446 million driven by strong demand for snow products
    Net earnings per share of $0.44 delivered for the quarter
    Company well-positioned for primary selling season with innovative new product offerings
    Business Wire The Toro Company
    13 minutes ago
    BLOOMINGTON, Minn.--(BUSINESS WIRE)--

    The Toro Company (TTC) today reported net earnings of $25.9 million, or $0.44 per share, on net sales of $446 million for its fiscal 2014 first quarter ended January 31, 2014. In the comparable fiscal 2013 period, the company delivered net earnings of $31.4 million, or $0.53 per share, on net sales of $444.7 million.

    “Significant snowfall across key North American markets this winter season spurred retail demand for our snow products—helping to drive sales for the quarter and providing a solid start to our 2014 fiscal year,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “The combination of more abundant snow conditions, stronger international demand and solid execution by our team helped us to temper the challenging year-over-year quarterly comparisons we faced due to the Tier 4 diesel engine transition that accelerated sales of large turf equipment into our first quarter last year. In addition, we finished our first quarter more favorably situated in terms of field inventory levels as compared to last year, considering that pre-Tier 4 equipment sales last year went into our channel while snow products sold this year moved all the way through to end-user customers.”

    “Looking ahead to our primary selling season, we are well-positioned across our businesses to drive retail sales and increase our market share. Golf course development and renovations continue to progress and customers and channel partners alike are excited about our innovative new equipment and irrigation offerings, including those featured at the recent Golf Industry Show

    Sentiment: Hold

 
TTC
62.27+0.86(+1.40%)Jul 22 4:01 PMEDT

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