Toro: Fiscal 3Q Earnings Snapshot
BLOOMINGTON, Minn. (AP) _ Toro Co. (TTC) on Thursday reported fiscal third-quarter profit of $60.6 million.
On a per-share basis, the Bloomington, Minnesota-based company said it had profit of 56 cents. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, came to 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The landscaping, maintenance and irrigation equipment maker posted revenue of $838.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $873.1 million.
Toro expects full-year earnings in the range of $2.90 to $3 per share, with revenue expected to be $3.1 billion.
Toro shares have climbed 29% since the beginning of the year. The stock has risen 16% in the last 12 months.