Toro: Fiscal 1Q Earnings Snapshot
BLOOMINGTON, Minn. (AP) _ Toro Co. (TTC) on Thursday reported fiscal first-quarter profit of $59.5 million.
The Bloomington, Minnesota-based company said it had profit of 55 cents per share....
Minnesota-based Toro to buy Oklahoma-based Ditch Witch maker
BLOOMINGTON, Minn. (AP) — Bloomington, Minnesota-based The Toro Company has announced plans to purchase the Oklahoma-based company that manufactures Ditch Witch and other underground construction equipment.
Toro said in a news release Friday that it will pay $700 million in cash for The Charles Machine Works, a privately held company based in Perry, Oklahoma.
The proposed sale is subject to regulatory approval and is expected to close by the end of the third quarter.
Toro: Fiscal 4Q Earnings Snapshot
BLOOMINGTON, Minn. (AP) _ Toro Co. (TTC) on Thursday reported fiscal fourth-quarter earnings of $39 million.
The Bloomington, Minnesota-based company said it had profit of 36 cents per share. Earnings, adjusted for non-recurring gains, came to 32 cents per share.
The landscaping, maintenance and irrigation equipment maker posted revenue of $539.3 million in the period.
For the year, the company reported profit of $271.9 million, or $2.50 per share. Revenue was reported as $2.62 billion.
Toro to expand distribution center in Des Moines suburb
ANKENY, Iowa (AP) — An outdoor equipment maker plans to start work this fall on expanding its distribution center in a Des Moines suburb.
Toro: Fiscal 3Q Earnings Snapshot
BLOOMINGTON, Minn. (AP) _ Toro Co. (TTC) on Thursday reported fiscal third-quarter earnings of $79 million.
The Bloomington, Minnesota-based company said it had net income of 73 cents per share. Earnings, adjusted for pretax gains, were 68 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
BLOOMINGTON, Minn. — The Toro Company announced that it has acquired L.T. Rich Products, a leading manufacturer of commercial zero-turn spreader/sprayers, aerators and snow and ice management equipment. Terms of the transaction were not disclosed.
Toro Co. CEO Richard Olson said the company’s fiscal 2018 is off to a good start, once again recording record revenue in the first quarter.
Revenue grew 6.8 percent to $548.2 million in the quarter ended Feb. 2.
CEO Pay Watch: Toro’s Richard Olson made $2.8 million in his first year at the top
Richard Olson, The Toro Co.
Chairman, president and CEO
Total compensation: $2,816,430 for the year ended October 31, 2017
A strong fourth quarter for Bloomington-based Toro Co. led to earnings that grew nearly 16 percent for the fiscal year and increased sales of 5 percent.
Two area organizations received donations of lawn mowers in what’s become an annual tradition for Exmark Manufacturing.
The local manufacturer, which is a part of the Toro Company, presented the mowers in this year’s giveaway to the Jefferson Community Health Center in Fairbury and to Fuller Park, near Pickrell.
Chad Jurgens, CEO of JCHC in Fairbury, said a new mower was a needed addition as the campus itself evolved over the years.
Toro Co. on Tuesday promoted 30-year veteran Richard M. Olson to the role of chief executive, nearly one year after he was appointed president and chief operating officer.
Olson will succeed long time CEO Michael Hoffman effective Nov. 1, company officials said.
Hoffman who 39 years ago joined the maker of lawn mowers, leafblowers, snowplows and construction equipment and has been CEO since 2005 will remain chairman of the board.
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- Beatrice Daily SunThe Toro Company land, water initiative to support BeatriceJuly 13, 2018