Toro: Fiscal 1Q Earnings Snapshot
BLOOMINGTON, Minn. (AP) _ Toro Co. (TTC) on Thursday reported fiscal first-quarter net income of $70.1 million.
The Bloomington, Minnesota-based company said it had net income of 65 cents per share. Earnings, adjusted for pretax gains, came to 64 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The landscaping, maintenance and irrigation equipment maker posted revenue of $767.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $784.3 million.
For the current quarter ending in May, Toro expects its per-share earnings to range from $1.28 to $1.33.
The company expects full-year earnings in the range of $3.33 to $3.40 per share, with revenue expected to be $3.6 billion.
Toro shares have declined roughly 3% since the beginning of the year. The stock has climbed 13% in the last 12 months.