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.
The landscaping, maintenance and irrigation equipment maker posted revenue of $655.8 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $661.3 million.
Toro shares have dropped nearly 6 percent since the beginning of the year. The stock has decreased 13 percent in the last 12 months.