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Toro Co

Toro Co (TTC)

95.52
-0.23
(-0.24%)
Closed June 22 4:00PM
95.52
0.00
(0.00%)
After Hours: 4:01PM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
95.52
Bid
-
Ask
-
Volume
1,624,650
94.62 Day's Range 96.105
77.15 52 Week Range 106.68
Market Cap
Previous Close
95.75
Open
95.19
Last Trade
554709
@
95.52
Last Trade Time
Financial Volume
$ 154,821,839
VWAP
95.2955
Average Volume (3m)
1,009,713
Shares Outstanding
103,874,095
Dividend Yield
1.49%
PE Ratio
30.09
Earnings Per Share (EPS)
3.17
Revenue
4.55B
Net Profit
329.7M

About Toro Co

The Toro Co manufactures turf maintenance and landscaping equipment. The company produces reel and rotary riding products, trim cutting and walking mowers, greens rollers, turf sprayer equipment, underground irrigation systems, heavy-duty walk-behind mowers, and sprinkler systems used for profession... The Toro Co manufactures turf maintenance and landscaping equipment. The company produces reel and rotary riding products, trim cutting and walking mowers, greens rollers, turf sprayer equipment, underground irrigation systems, heavy-duty walk-behind mowers, and sprinkler systems used for professional turf and landscape maintenance and construction. Its products are marketed through a network of distributors and dealers to primarily professional users maintaining turfs and sports fields such as golf courses. Its operating segments are Professional and Residential. The company also produces snow plowers and ice management products. Its largest end market is the United States. Show more

Sector
Lawn, Garden Tractors, Equip
Industry
Lawn, Garden Tractors, Equip
Headquarters
Wilmington, Delaware, USA
Founded
1970
Toro Co is listed in the Lawn, Garden Tractors, Equip sector of the New York Stock Exchange with ticker TTC. The last closing price for Toro was $95.75. Over the last year, Toro shares have traded in a share price range of $ 77.15 to $ 106.68.

Toro currently has 103,874,095 shares outstanding. The market capitalization of Toro is $9.92 billion. Toro has a price to earnings ratio (PE ratio) of 30.09.

Toro (TTC) Options Flow Summary

Overall Flow

Bullish

Net Premium

146k

Calls / Puts

100.00%

Buys / Sells

0.00%

OTM / ITM

0.00%

Sweeps Ratio

0.00%

TTC Latest News

The Toro Company Releases 2023 Sustainability Impact Report

Company continues to cultivate a positive impact across the industries and communities it serves, in addition to furthering sustainability initiatives The Toro Company (NYSE: TTC), a leading...

The Toro Company Reports Results for the Second Quarter of Fiscal 2024

Record Net Sales Driven by Exceptional Growth in Residential Segment and Underground Construction Significant Progress in Reducing Dealer Field Inventories of Lawn Care Products Reaffirms...

US Index Futures Mixed; Oil Prices Rise

U.S. index futures are trading mixed in pre-market on Thursday after the S&P 500 and Nasdaq reached new closing records. Investors are eagerly awaiting the May jobs report, to be released on...

The Toro Company Declares Regular Quarterly Cash Dividend

The Toro Company (NYSE: TTC) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.36 per share of TTC’s common stock. This dividend is payable on July...

The Toro Company to Announce Fiscal 2024 Second Quarter Results

The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, announced today that it will release its fiscal 2024 second quarter results on Thursday, June 6...

The Toro Company Declares Regular Quarterly Cash Dividend

The Toro Company (NYSE: TTC) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.36 per share of TTC’s common stock. This dividend is payable on April...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.820.86589229144794.798.1394.33104248796.58646282CS
411.8414.149139579383.6898.1377.15156345788.54215232CS
124.344.7598157490791.1898.1377.15100971387.88199157CS
26-2.53-2.5803161652298.0510077.1587242090.18159512CS
52-1.09-1.1282475934296.61106.6877.1573175489.70840903CS
156-9.3-8.87235260446104.82117.6671.8658171494.95743148CS
26026.8739.140568099168.65118.135054296489.95486337CS

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TTC Discussion

View Posts
56Chevy 56Chevy 3 weeks ago
Marker:
TCC
$78.46. -0.34 (-0.43%)
Volume: 1,707,812
👍️0
56Chevy 56Chevy 8 months ago
Marker:

TTC

$80.35 -0.96 (-1.18%)
Volume: 507,337
👍️0
tdbowieknife tdbowieknife 9 months ago
Thank you for that thought out reply. I suspect you are correct. One thing I figured Toro had going for it, was they have been buying up their competitors and keeping their more profitable products.

I'm thinking another disappointing quarter could mean TCC sees close to 60.

..

.
👍️0
56Chevy 56Chevy 9 months ago
My bearish opinion isn't specifically about Toro [TCC] so much as it is the entire lawn care industry as a whole.

Take the commercial side of the house first. Toro is a highly recognizable and respected name in the professional lawn care industry ..but it's my guess they (and their competitors) have seen their best days. I think we're seeing the early cracks in the foundation. Lawn care isn't what it used to be.

Take Golf and the subsequent lawn care the sport entails as an example which unquestionably makes up 85% of their customer base. Golf has been on the decline for a number of years now. Fewer and fewer young people are playing the sport. When was the last time you had to call ahead or reserve a Tee time!? And most of the guys you see still out there are over 60.
Country club housing projects are a thing of the past due to 1) the premium cost of space and land a golf course requires 2) the water and fertilizer requirements it takes to maintain a pristine course and 3) the high cost of HOA fees associated with living on a golf course. They simply cannot make it private. They need the public to even hope to break even.

It's problematic.

It's my contention is - as Golf goes.. so goes Toro (and it's competitors).

I look for a slow decay of their business and industry overall. Selling to the Res market can't possibly make up for the commercial losses. Not only that but the high cost of water is a problem for homeowners as well. They're not putting in large lawns cause they can't afford them.
👍️0
tdbowieknife tdbowieknife 9 months ago
Whats the bottom going to be?


..

.
👍️0
56Chevy 56Chevy 9 months ago
Marker:

TTC

$82.16 -4.91 (-5.64%)
Volume: 1,041,045

* TTC has been on a dramatic fall this past week... which is a big deal considering they've had arguably one of the best 30 year charts you'll ever see. There's a bigger story behind this. Apparently Res homeowners aren't buying lawn equipment. Toro, which currently only sells their res equipment at Home Depot, plans to sell their equipment at Lowe's beginning in 2024. Color me skeptical.
👍️0
TheFinalCD TheFinalCD 1 year ago
sorry wrong board


meant to post on $TORO
👍️0
nowwhat2 nowwhat2 1 year ago
What's 2.50 from 2.88 ?
👍️0
TheFinalCD TheFinalCD 1 year ago
2.50 FROM 2.88
👍️0
nowwhat2 nowwhat2 1 year ago
The Great TORO Lawnmowers' Poss Double Top

Last 108

https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=TTC&x=0&y=0&time=20&startdate=2%2F4%2F2020&enddate=4%2F19%2F2023&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9








.
👍️0
nowwhat2 nowwhat2 3 years ago
Hey, it was at $70 dollars back then.....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132375287


And NOW look where it's at

https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=ttc&time=100&startdate=5%2F1%2F1990&enddate=11%2F20%2F2021&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=10+21&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&x=27&y=10&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
👍️0
FunCityJaguar FunCityJaguar 5 years ago
check item 3

this was a series D share swap not dilution
👍️0
stocktrademan stocktrademan 6 years ago
TTC invest 58.3























normal chart




log chart



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TREND1 TREND1 7 years ago
Toro Company is engaged in designs, manufactures, and markets professional turf maintenance equipment and services, turf and agricultural micro-irrigation systems, landscaping equipment, and residential yard and snow removal products.
👍️0
TREND1 TREND1 7 years ago
EPS = .61
👍️0
TREND1 TREND1 7 years ago
TTC 1 YEAR with RSI 10

👍️0
TREND1 TREND1 7 years ago
TTC

👍️0
nowwhat2 nowwhat2 7 years ago
Toro !....Toro !....Just buy the bull.





This from a month ago : (when it WAS below 70)











But, what if you'd have been purchasing Call Options eh ? all that entire time ?.....




LoL





.
👍️0
Drmicrocap Drmicrocap 7 years ago
IN THE NEWS: TTC beats the Street by .05
👍️0
Drmicrocap Drmicrocap 7 years ago
In The News: TTC
👍️0
ValueInvestor15 ValueInvestor15 8 years ago
Fundamental analysis implies Toro is 7% overvalued before earnings

Valuation Analysis
👍️0
Drmicrocap Drmicrocap 8 years ago
"Whisper Number"
👍️0
Drmicrocap Drmicrocap 8 years ago
The Toro Company Reports Record First Quarter Results
First quarter sales increase 2.6 percent to a record $486.4 million
Net earnings per share for the first quarter up 29.6 percent to a record $0.70
Company is well positioned as it enters key selling season
Full-year earnings guidance raised
Business Wire The Toro Company
February 18, 2016 8:30 AM
????
BLOOMINGTON, Minn.--(BUSINESS WIRE)--

The Toro Company (TTC) today reported net earnings of $39.3 million, or $0.70 per share, on a net sales increase of 2.6 percent to $486.4 million for its first quarter ended January 29, 2016. In the comparable fiscal 2015 period, the company delivered net earnings of $31.0 million, or $0.54 per share, on net sales of $474.2 million.

“We are very encouraged by the positive start to the fiscal year, delivering record results for the first quarter,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “Our residential business benefitted from strong demand for zero-turn riding mowers. Strong sales of our landscape contractor equipment, increased demand for our specialty construction equipment and higher sales of golf irrigation products also contributed to the positive start to the fiscal year.”

“With an ongoing focus on innovation, we are excited about our new product lineup across our businesses for fiscal 2016. Most recently, our new golf equipment and irrigation products received a positive reception at the Golf Industry Show in San Diego, California last week. New products such as the Workman® light-duty vehicle and the enhanced product offerings for our INFINITY® Series golf sprinkler were well received by those attending the show. We were also pleased by the excitement surrounding our new product offerings at the 2016 Sports Turf Managers Show that also took place in San Diego, California. Similarly, in the days ahead, the team will be busy preparing for the upcoming Rental Show in the end of February, where we expect to see positive opportunities
👍️0
Drmicrocap Drmicrocap 9 years ago
The "Street" has TTC coming in at .92 for the 2nd quarter that should be reported on or about August 20, 2015!

All post's welcome!

The "Good Dr's In"!
👍️0
Drmicrocap Drmicrocap 10 years ago
Related Quotes



TTC63.37+0.16%





Toro Co.? Watchlist
63.37+0.10(0.16%)
NYSE12:54 PM EST




TORO CO Files SEC form 8-K, Completion of Acquisition or Disposition of Assets, Regulation FD Disclosure, Financial S
EDGAR Online 5 days ago
Toro Co Conference Call to discuss its agreement to acquire the BOSS snow and ice management business. scheduled for 9:00 am ET today
CCBN 23 days ago

More









The purchase price is approximately $227 million, which Toro will pay primarily in cash except for $30 million that will be paid in the form of a three-year unsecured promissory note. Toro plans to fund the cash portion of the purchase price with cash on hand and borrowings under a new five-year unsecured revolving credit facility that includes a senior term loan. Toro expects this acquisition to be slightly accretive to fiscal 2015 earnings.

About The Toro Company
The Toro Company (TTC) is a leading worldwide provider of innovative turf, landscape, rental and construction equipment, and irrigation and outdoor lighting solutions. With sales of more than $2 billion in fiscal 2013, Toro’s global presence extends to more than 90 countries through strong relationships built on integrity and trust, constant innovation and a commitment to helping customers enrich the beauty, productivity and sustainability of the land. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties and agricultural fields. More information is available at www.thetorocompany.com.

LIVE CONFERENCE CALL
October 28, 2014 at 8:00 a.m. CDT
www.thetorocompany.com/invest

The Toro Company will conduct a call and webcast for investors beginning at 8:00 a.m. CDT on October 28, 2014 to discuss its agreement to acquire the BOSS snow and ice management business. The webcast will be available at www.streetevents.com or atwww.thetorocompany.com/invest. Webcast participants will need to complete a brief registration form and should allocate extra time before the webcast begins to register and, if necessary, download and install audio software.

Forward-Looking Statements
This news release contains forward-looking statements, which are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations of future events, and often can be identified by words such as “expect,” “anticipate,” “continue,” “plan,” “estimate,” “project,” “believe,” “should,” “could,” “will,” “would,” “possible,” “may,” “likely,” “intend,” and similar expressions or future dates. Some of the forward-looking statements in this release about Toro’s acquisition of the BOSS business include the anticipated timing for the consummation of the acquisition, plans for funding the acquisition purchase price and anticipated earnings impact. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied. The following are some of the factors known to Toro that could cause Toro’s actual results to differ materially from what Toro has anticipated in its forward-looking statements: delays in completing the acquisition of the BOSS business and the risk that the acquisition may not be completed at all; the failure by Toro to achieve the net sales, earnings, working capital, capital expenditure, growth prospects and any cost or revenue synergies expected from the acquisition or delays in the realization thereof; delays and challenges in integrating the businesses after the acquisition is completed, including risks associated with information or financial systems; operating costs and business disruption during the pendency of and following the acquisition, including adverse effects on employee relations or retention or on business relationships with third parties, including customers, distributors and dealers; loss of key personnel; violation of non-competition covenants by key individuals of the BOSS business; damage to the BOSS business facilities located in Iron Mountain, Michigan causing a material disruption to the operations; failure to comply with applicable international, federal or state product safety or other regulatory standards or requirements; unanticipated liabilities or exposures associated with the BOSS business for which Toro has not been indemnified or may not recover; infringement of intellectual property rights of others associated with the rights acquired in the acquisition; general adverse business, economic or competitive conditions; and other risks and uncertainties described in our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other filings with the Securities and Exchange Commission. We undertake no obligation to update forward-looking statements made herein to reflect events or circumstances after the date hereof.




Contact:
The Toro Company
Investor Relations
Amy Dahl, 952-887-8917
Managing Director, Corporate Communications and Investor Relations
amy.dahl@toro.com
or
Media Relations
Branden Happel, 952-887-8930
Senior Manager, Public Relations
branden.happel@toro.com







👍️0
RowingDude RowingDude 10 years ago
Good afternoon Toro Co. (TTC) looking for a strong hour of power!
👍️0
Drmicrocap Drmicrocap 11 years ago
..

The Toro Company Reports Fiscal 2013 Third Quarter Results

Third quarter sales increase to $510 million and net earnings per share increase to $0.68
• Quarterly results strengthened by improved market conditions and increased demand for residential and landscape contractor products
• Company raises full-year earnings outlook on the strength of margin improvement
Business WirePress Release: The Toro Company – Thu, Aug 22, 2013 8:30 AM EDT..

.
The Toro Company (TTC) today reported net earnings of $40.1 million, or $0.68 per share, on a net sales increase of 1.2 percent to $509.9 million for its fiscal third quarter ended August 2, 2013. In the comparable fiscal 2012 period, the company delivered net earnings of $40.5 million, or $0.67 per share, on net sales of $504.1 million.

For the first nine months, Toro reported net earnings of $149.9 million, or $2.53 per share, on a net sales increase of 2.4 percent to $1,659.1 million. In the comparable fiscal 2012 period, the company posted net earnings of $129.3 million, or $2.13 per share, on net sales of $1,619.4 million.

“For the quarter, our results were strengthened by a summer growing season with favorable temperatures and precipitation levels as compared to last year’s severe drought conditions,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “The more desirable weather helped us drive retail sales across most of our businesses and, in particular, our residential business. In addition to realizing sales delayed in the prior quarter by adverse spring weather conditions, our residential business benefited from increased demand for our new and innovative products, including our Timecutter® zero turn radius riding products and our recently introduced line of lithium-ion battery-powered string and hedge trimmers.”

“As anticipated, the Tier 4 diesel engine transition—which caused a significant portion of our professional sales to be accelerated into our first quarter from later quarters as we’ve historically seen—continued to impact the quarterly results for our professional business. Year-to-date our results are solid and our business fundamentals remain sound. Our golf and landscape contractor businesses are benefitting from innovative and high performing equipment offerings valued by our end-user customers, we continue to grow our micro irrigation business around the world, and we realized additional sales from increased customer demand for our rental products and newly introduced Toro-branded underground and construction products.”

“Looking ahead, although we are always mindful of the challenges that Mother Nature can create for us, as well as continuing expectations for slow worldwide economic growth, we remain cautiously optimistic about the remainder of our year. We expect favorable sales comparisons to last year’s fourth quarter when limited prior season snowfall in North America and Europe significantly affected demand for our snowthrower products. Turning to field inventory, despite elevated positions held through the second quarter due to the planned execution of the Tier 4 transition and the resulting impact of the poor spring weather conditions, we believe that recent retail efforts have reduced field inventories across our product lines and at these improved levels we are well positioned for the future. Lastly, we expect that momentum from our productivity efforts and favorable commodity trends, somewhat offset by product mix, should drive additional earnings gains. As a result, today we are refining our full-year revenue outlook and increasing our earnings expectations.”

The company now expects revenue growth for fiscal 2013 to be about 4 percent and net earnings to be about 2.55 per share, or an increase of about 19 percent over fiscal 2012.

SEGMENT RESULTS

Professional
• Professional segment net sales for the third quarter totaled $343.9 million, down 4.8 percent from the prior year period. The quarterly sales decrease primarily was attributable to the Tier 4 diesel engine transition and related acceleration of a significant portion of our professional sales into our first quarter from later quarters as historically experienced. Offsetting the decrease, shipments of landscape contractor equipment benefited from increased demand for our zero turn radius products driven by more favorable weather conditions this quarter compared to the drought conditions last year, as well as newly introduced product offerings. Rental and construction equipment sales were up on increased product demand. Global micro irrigation sales increased on continued demand for more efficient irrigation solutions for agriculture. For the first nine months, professional segment net sales were $1,169.4 million, up 6.2 percent from the comparable fiscal 2012 period.
• Professional segment earnings for the third quarter totaled $60.5 million, down 14.2 percent from the prior year period. For the first nine months, professional segment earnings were $233.5 million, up 10.5 percent from the comparable fiscal 2012 period.

Residential
• Residential segment net sales for the third quarter totaled $155.5 million, up 14.4 percent from the prior year period. Favorable temperatures and precipitation levels in the quarter led to sales increases across all summer product categories, including riding products, walk power mowers and handheld trimmer and blower products. For the first nine months, residential segment net sales were $477.8 million, down 5.5 percent from the comparable fiscal 2012 period. The year-to-date sales results largely were attributable to the unusually mild 2012/2013 winter season and the late start to spring.
• Residential segment earnings for the third quarter totaled $15.1 million, up 50 percent from the prior year period. For the first nine months, residential segment earnings were $51.9 million, up 1.4 percent from the comparable fiscal 2012 period.

OPERATING RESULTS

Gross margin for the third quarter was 34.9 percent, down 40 basis points from the comparable fiscal 2012 period, primarily due to product mix but offset by favorable commodity costs, productivity gains and realized pricing. For the first nine months, gross margin was up 130 basis points to 35.9 percent.

Selling, general and administrative (SG&A) expense as a percent of sales increased 20 basis points for the third quarter to 23.4 percent. For the first nine months, SG&A expense increased 40 basis points as a percent of sales to 22.5 percent. For both periods, the increase in SG&A as a percent of sales was the result of higher warehousing expense, increased engineering spending and incremental costs from acquisitions, offset by lower warranty expense.

Operating earnings as a percent of sales decreased 60 basis points to 11.5 percent for the third quarter, but was up 90 basis points to 13.4 percent for the year to date.

The effective tax rate for the third quarter was 30.5 percent compared with 31.8 percent in the same period last year. For the year to date comparison, the tax rate decreased to 31.0 percent from 33.3 percent. The decrease in both periods was primarily the result of the reenactment of the Federal Research and Engineering Tax Credit.

Accounts receivable at the end of the third quarter totaled $202.1 million, up 2.6 percent from the prior year period. Net inventories were $258.9 million, up 10.3 percent from the end of last year’s third quarter. Trade payables were $124.2 million, the approximate equivalent of last year.

About The Toro Company
The Toro Company (TTC) is a leading worldwide provider of innovative turf, landscape, rental and construction equipment, and irrigation and outdoor lighting solutions. With sales of more than $1.9 billion in fiscal 2012, Toro’s global presence extends to more than 90 countries through strong relationships built on integrity and trust, constant innovation and a commitment to helping customers enrich the beauty, productivity and sustainability of the land. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties and agricultural fields. More information is available at www.thetorocompany.com.

LIVE CONFERENCE CALL
August 22, 2013 at 10:00 a.m. CDT
www.thetorocompany.com/invest

The Toro Company will conduct its earnings call and webcast for investors beginning at 10:00 a.m. CDT on August 22, 2013. The webcast will be available at www.streetevents.com or at www.thetorocompany.com/invest. Webcast participants will need to complete a brief registration form and should allocate extra time before the webcast begins to register and, if necessary, download and install audio software.

Safe Harbor
Statements made in this news release, which are forward-looking, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied. These uncertainties include factors that affect all businesses operating in a global market as well as matters specific to Toro. Particular risks and uncertainties that may affect the company’s operating results or overall financial position at the present include: slow or negative growth rates in global and domestic economies, resulting in rising or persistent unemployment and weakened consumer confidence; the threat of terrorist acts and war, which may result in contraction of the domestic and global economies; drug cartel-related violence, which may disrupt our production activities and maquiladora operations based in Juarez, Mexico; fluctuations in the cost and availability of raw materials and components, including steel, engines, hydraulics, resins and other commodities and components; fluctuating fuel and other costs of transportation; the impact of abnormal weather patterns, natural disasters and global pandemics; the level of growth or contraction in our key markets; government and municipal revenue, budget and spending levels, which may negatively impact our grounds maintenance equipment business in the event of reduced tax revenues and tighter government budgets; dependence on The Home Depot as a customer for the residential segment; elimination of shelf space for our products at retailers; inventory adjustments or changes in purchasing patterns by our customers; market acceptance of existing and new products; increased competition; our ability to achieve the revenue growth, operating earnings and employee engagement goals of our multi-year employee initiative called “Destination 2014”; our increased dependence on international sales and the risks attendant to international operations and markets, including political, economic and/or social instability in the countries in which we manufacture or sell our products resulting in contraction or disruption of such markets; credit availability and terms, interest rates and currency movements including, in particular, our exposure to foreign currency risk; our relationships with our distribution channel partners, including the financial viability of distributors and dealers; our ability to successfully achieve our plans for and integrate acquisitions and manage alliances or joint ventures, including Red Iron Acceptance, LLC; the costs and effects of changes in tax, fiscal, government and other regulatory policies, including rules relating to environmental, health and safety matters, and Tier 4 emissions requirements; unforeseen product quality or other problems in the development, production and usage of new and existing products; loss of or changes in executive management or key employees; ability of management to manage around unplanned events; our reliance on our intellectual property rights and the absence of infringement of the intellectual property rights of others; and the occurrence of litigation or claims. In addition, factors that could affect completion of the proposed acquisition of a micro irrigation business in China including whether and when the required regulatory approvals will be obtained, and whether and when the other closing conditions will be satisfied. In addition to the factors set forth in this paragraph, market, economic, financial, competitive, legislative, governmental, weather, production and other factors identified in Toro's quarterly and annual reports filed with the Securities and Exchange Commission, could affect the forward-looking statements in this press release. Toro undertakes no obligation to update forward-looking statements made in this release to reflect events or circumstances after the date of this release.


THE TORO COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings (Unaudited)
(Dollars and shares in thousands, except per-share data)

Three Months Ended Nine Months Ended
August 2, August 3, August 2, August 3,
2013 2012 2013 2012
Net sales $ 509,918 $ 504,076 $ 1,659,065 $ 1,619,396
Gross profit 178,031 178,122 596,149 560,195
Gross profit percent 34.9 % 35.3 % 35.9 % 34.6 %
Selling, general, and administrative expense 119,451 117,137 373,894 358,689
Operating earnings 58,580 60,985 222,255 201,506
Interest expense (3,909 ) (4,198 ) (12,307 ) (12,791 )
Other income, net 2,982 2,681 7,420 5,231
Earnings before income taxes 57,653 59,468 217,368 193,946
Provision for income taxes 17,556 18,919 67,473 64,656
Net earnings $ 40,097 $ 40,549 $ 149,895 $ 129,290

Basic net earnings per share $ 0.70 $ 0.69 $ 2.58 $ 2.17

Diluted net earnings per share $ 0.68 $ 0.67 $ 2.53 $ 2.13


Weighted average number of shares of common

stock outstanding – Basic

57,653

59,045

58,091

59,642


Weighted average number of shares of common
stock outstanding – Diluted

58,913

60,336

59,266

60,829




Segment Data (Unaudited)
(Dollars in thousands)

Three Months Ended Nine Months Ended


August 2, August 3, August 2, August 3,

Segment Net Sales
2013 2012 2013 2012
Professional $ 343,866 $ 361,120 $ 1,169,446 $ 1,100,899
Residential 155,452 135,894 477,789 505,399
Other 10,600 7,062 11,830 13,098
Total * $ 509,918 $ 504,076 $ 1,659,065 $ 1,619,396

* Includes international sales of $ 138,855 $ 133,623 $ 492,526 $ 480,471

Three Months Ended Nine Months Ended


August 2, August 3, August 2, August 3,

Segment Earnings (Loss) Before Income Taxes
2013 2012 2013 2012
Professional $ 60,508 $ 70,537 $ 233,521 $ 211,329
Residential 15,070 10,048 51,903 51,174
Other (17,925 ) (21,117 ) (68,056 ) (68,557 )
Total $ 57,653 $ 59,468 $ 217,368 $ 193,946



THE TORO COMPANY AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in thousands)

August 2, August 3,
2013 2012

ASSETS

Cash and cash equivalents $ 161,180 $ 143,058
Receivables, net 202,148 197,023
Inventories, net 258,929 234,790
Prepaid expenses and other current assets 27,426 24,436
Deferred income taxes 62,324 62,368
Total current assets 712,007 661,675

Property, plant, and equipment, net 179,943 177,723
Goodwill and other assets, net 139,180 147,130
Total assets $ 1,031,130 $ 986,528


LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt $ — $ 1,858
Accounts payable 124,244 124,168
Accrued liabilities 284,702 278,797
Total current liabilities 408,946 404,823

Long-term debt, less current portion 223,528 223,467
Deferred revenue 10,547 11,289
Deferred income taxes 2,898 1,380
Other long-term liabilities 6,592 7,822
Stockholders’ equity 378,619 337,747
Total liabilities and stockholders’ equity $ 1,031,130 $ 986,528



THE TORO COMPANY AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Dollars in thousands)

Nine Months Ended
August 2, August 3,
2013 2012
Cash flows from operating activities:
Net earnings $ 149,895 $ 129,290

Adjustments to reconcile net earnings to net cash provided by operating activities:

Noncash income from finance affiliate (5,658 ) (4,521 )
Provision for depreciation and amortization 39,204 37,929
Stock-based compensation expense 7,927 7,465
Decrease (increase) in deferred income taxes 183 (443 )
Other 28 (117 )
Changes in operating assets and liabilities, net of effect of acquisitions:
Receivables, net (56,762 ) (51,640 )
Inventories, net (12,048 ) (6,428 )
Prepaid expenses and other assets (1,539 ) (6,114 )

Accounts payable, accrued liabilities, deferred revenue, and other long-term liabilities

36,910

59,986

Net cash provided by operating activities 158,140 165,407

Cash flows from investing activities:
Purchases of property, plant, and equipment (34,390 ) (28,158 )
Proceeds from asset disposals 344 114
Distributions from finance affiliate, net 2,977 1,777
Acquisitions, net of cash acquired — (9,663 )
Net cash used in investing activities (31,069 ) (35,930 )

Cash flows from financing activities:
Repayments of short-term debt (415 ) (922 )
Repayments of long-term debt (1,769 ) (1,892 )
Excess tax benefits from stock-based awards 5,196 8,080
Proceeds from exercise of stock options 8,146 17,337
Purchases of Toro common stock (76,003 ) (67,354 )
Dividends paid on Toro common stock (24,453 ) (19,748 )
Net cash used in financing activities (89,298 ) (64,499 )

Effect of exchange rates on cash and cash equivalents (2,449 ) (2,806 )

Net increase in cash and cash equivalents 35,324 62,172
Cash and cash equivalents as of the beginning of the period 125,856 80,886

Cash and cash equivalents as of the end of the period $ 161,180 $ 143,058



.
.
Contact:.
.
The Toro Company
Investor Relations
Amy Dahl, 952-887-8917
Managing Director, Corporate Communications and Investor Relations
amy.dahl@toro.com
or
Media Relations
Branden Happel, 952-887-8930
Senior Manager, Public Relations
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Drmicrocap Drmicrocap 11 years ago

The Toro Company Reports Record First Quarter Results

• First quarter revenues grow 4.9 percent to a record $444.7 million
• Net earnings per share up over 60 percent to a record $0.53
• Company raising full-year earnings guidance; well positioned entering key selling season
• Commitment to building micro irrigation global presence continues with acquisition in China
Press Release: The Toro Company – Thu, Feb 21, 2013 8:30 AM

BLOOMINGTON, Minn.--(BUSINESS WIRE)--

The Toro Company (TTC) today reported net earnings of $31.4 million, or $0.53 per share, on a net sales increase of 4.9 percent to $444.7 million for its fiscal first quarter ended February 1, 2013. In the comparable fiscal 2012 period, the company delivered net earnings of $19.9 million, or $0.33 per share, on net sales of $423.8 million. The “per share” data for the comparative periods has been adjusted to reflect a two-for-one stock split effective June 29, 2012.

“Our record-setting first quarter, driven by particularly strong channel demand for large turf equipment and the continued growth of micro irrigation sales, propelled us to a solid start for the year,” said Michael J. Hoffman, Toro’s chairman and chief executive officer. “Our financial performance benefitted from both accelerated sales related to pre-Tier 4 product shipments and early professional end-user demand, along with positive effects of our productivity initiatives.”

“The optimistic outlook of customers across our businesses is encouraging, as we prepare for our primary selling season,” said Hoffman. “Barring new economic headwinds, we anticipate the momentum our golf, landscape contractor and micro irrigation businesses enjoyed this past quarter will carry into spring. Our residential business retail potential looks solid as well. Recent snowfall across our primary snow markets, including the record-breaking blizzard that struck the Northeast, generated additional revenue for our contractor customers and is helping clear field inventories, thus boosting prospects for our autumn pre-season snow sales.”

“Additionally, along with positive market conditions,” Hoffman added, “our latest professional and residential product innovations, like the Reelmaster® 3550-D (the lightest golf fairway mower on the market), new 30” professional walk power mowers for landscape contractors and the newly Toro-branded products from our Astec and Stone Construction acquisitions from 2012, are helping create further opportunities.”

The Toro Company is also announcing today that it has entered into an agreement to acquire a Chinese micro-irrigation company, subject to applicable regulatory approval and other customary closing conditions. Terms of the transaction were not disclosed. Hoffman commented, “Although small, this acquisition will help strengthen our presence in China, a critical growth market, by establishing a micro irrigation base of operations.”

The company continues to expect revenue growth of about 4 to 5 percent for fiscal 2013. With the expectations that the accelerated margin and earnings benefit of the Tier 4 transition will moderate through the year, the earnings expectations are being raised largely to reflect the benefit of tax rate improvement discussed below. The company now expects fiscal 2013 net earnings to be about $2.40 to $2.45 per share. For the second quarter the company expects to report net earnings per share of about $1.20.

SEGMENT RESULTS

Professional
• Professional segment net sales for the first quarter totaled $329.1 million, up 16 percent from the same period last year. Domestic shipments of large turf equipment were up due to channel demand. The early successful launch of products from the Astec and Stone acquisitions, also contributed to the professional businesses’ strong quarter. Furthermore, increased capacity enabled the company to capitalize on steadily growing demand for micro-irrigation systems to meet the ever-growing global food requirements. Results in the professional segment were somewhat offset by soft international sales activity.
• Professional segment earnings totaled $60.7 million, up 44.3 percent from $42.1 million last year.

Residential
• Residential segment net sales for the first quarter totaled $120.9 million, down 12.1 percent from the first quarter last year. The decline reflects reduced retail demand for snow products due to unseasonable winter weather in North America. However, residential segment results benefitted from improved sales of Pope products in Australia.
• Residential segment earnings for the fiscal 2013 first quarter totaled $12.2 million, down 3.6 percent from $12.6 million in the same period last year.

OPERATING RESULTS

Gross margin for the fiscal 2013 first quarter increased 270 basis points from last year to 37.3 percent. The margin growth was primarily the result of product mix, pricing, and progress on our productivity efforts.

Selling, general and administrative (SG&A) expense as a percent of sales for the fiscal 2013 first quarter was up 30 basis points to 26.9 percent. The SG&A increase as a percent of sales reflects incremental costs associated with the acquisition of Astec and Stone, as well as start-up costs for the new distribution facility in Iowa.

First quarter operating earnings as a percent of sales were 10.4 percent compared to 8 percent a year ago.

First quarter interest expense was down 4 percent to $4.2 million due to lower average debt levels.

The effective tax rate for the quarter was 27.7 percent compared with 33.8 percent last year. The lower tax rate was primarily due to the retroactive extension of the Federal Research and Engineering Tax Credit.

Accounts receivable at the end of the fiscal 2013 first quarter totaled $180.3 million, up 2.7 percent from the same period last year, on a sales increase of 4.9 percent. Net inventories for the first quarter were $335.7 million, up 23.2 percent. The increase includes product to support the Tier 4 transition, snow throwers and inventory from the Astec and Stone acquisitions. Trade payables increased 10.9 percent for the first quarter to $168.3 million.

About The Toro Company
The Toro Company (TTC) is a leading worldwide provider of innovative turf, landscape, rental and construction equipment, and irrigation and outdoor lighting solutions. With sales of more than $1.9 billion in fiscal 2012, Toro’s global presence extends to more than 90 countries through strong relationships built on integrity and trust, constant innovation, and a commitment to helping customers enrich the beauty, productivity and sustainability of the land. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties, and agricultural fields. More information is available at www.toro.com.

LIVE CONFERENCE CALL
February 21, 10:00 a.m. CST
www.thetorocompany.com/invest

The Toro Company will conduct its earnings call and webcast for investors beginning at 10:00 a.m. CST on February 21, 2013. The webcast will be available at www.streetevents.com or at www.thetorocompany.com/invest.Webcast participants will need to complete a brief registration form and should allocate extra time before the webcast begins to register and, if necessary, download and install audio software.

Safe Harbor
Statements made in this news release, which are forward-looking, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied. These uncertainties include factors that affect all businesses operating in a global market as well as matters specific to Toro. Particular risks and uncertainties that may affect the company’s operating results or overall financial position at the present include: slow or negative growth rates in global and domestic economies, resulting in rising or persistent unemployment and weakened consumer confidence; the threat of terrorist acts and war, which may result in contraction of the U.S. and worldwide economies; drug cartel-related violence, which may disrupt our production activities and maquiladora operations based in Juarez, Mexico; fluctuations in the cost and availability of raw materials and components, including steel, engines, hydraulics, resins and other commodities and components; fluctuating fuel and other costs of transportation; the impact of abnormal weather patterns, natural disasters and global pandemics; the level of growth or contraction in our key markets; government and municipal revenue, budget and spending levels, which may negatively impact our grounds maintenance equipment business in the event of reduced tax revenues and tighter government budgets; dependence on The Home Depot as a customer for the residential segment; elimination of shelf space for our products at retailers; inventory adjustments or changes in purchasing patterns by our customers; market acceptance of existing and new products; increased competition; our ability to achieve the revenue growth, operating earnings and employee engagement goals of our multi-year employee initiative called “Destination 2014”; our increased dependence on international sales and the risks attendant to international operations and markets, including political, economic and/or social instability in the countries in which we manufacture or sell our products resulting in contraction or disruption of such markets; credit availability and terms, interest rates and currency movements including, in particular, our exposure to foreign currency risk; our relationships with our distribution channel partners, including the financial viability of distributors and dealers; our ability to successfully achieve our plans for and integrate acquisitions and manage alliances or joint ventures, including Red Iron Acceptance, LLC; the costs and effects of changes in tax, fiscal, government and other regulatory policies, including rules relating to environmental, health and safety matters, and Tier 4 emissions requirements; unforeseen product quality or other problems in the development, production and usage of new and existing products; loss of or changes in executive management or key employees; ability of management to manage around unplanned events; our reliance on our intellectual property rights and the absence of infringement of the intellectual property rights of others; and the occurrence of litigation or claims. In addition, factors that could affect completion of the proposed acquisition of a micro-irrigation business in China including whether and when the required regulatory approvals will be obtained, and whether and when the other closing conditions will be satisfied. In addition to the factors set forth in this paragraph, market, economic, financial, competitive, legislative, governmental, weather, production and other factors identified in Toro's quarterly and annual reports filed with the Securities and Exchange Commission, could affect the forward-looking statements in this press release. Toro undertakes no obligation to update forward-looking statements made in this release to reflect events or circumstances after the date of this release.




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Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/The-Toro-Company-Reports-bw-1341964087.html?x=0
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MiamiGent MiamiGent 12 years ago
TTC Toro 1Q Net Rose 15% On Strong Revenue; Raises Year View
PROVIDED BY Dow Jones & Company, Inc. - 8:53 AM 02/23/2012
DOW JONES NEWSWIRES

Toro Co.'s (TTC) fiscal first-quarter earnings rose 15% on stronger-than- expected revenue as both the professional and residential segments posted double-digit profit increases.

The grounds-care equipment maker raised its full-year earnings estimate to $ 4.20 a share on 6% to 7% revenue growth from its December forecast of $4.15 a share on revenue growth of 5%. Toro (TTC) also forecast current-quarter earnings of $ 2.10 a share, while analysts surveyed by Thomson Reuters expect $2.09.

The maker of landscaping equipment and snowblowers has seen its bottom line improve in recent quarters, led by revenue growth at its professional division, its largest segment. Demand for professional landscaping and irrigation equipment is recovering from the recession as new golf courses are developed, particularly in Asia.

For the quarter ended Feb. 3, Toro (TTC) reported a profit of $19.9 million, or 65 cents a share, up from $17.3 million, or 53 cents, a year earlier. Its December projection was 58 cents a share, below analysts' estimates at the time.

Revenue jumped 11% to $423.8 million, topping the most recent forecast of $403 million from analysts polled by Thomson Reuters.

Gross margin fell to 34.6% from 35.7%, due primarily to product mix and freight expense.

At the professional segment--which includes landscaping, golf and irrigation equipment--sales rose 9.9% and profit was up 11%.

The residential segment--which includes lawnmowers and snowblowers--saw a 12% sales increase and earnings jumped 11%.

Shares closed Wednesday at $63.80 and were inactive premarket. The stock has risen 5.2% so far this year.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@ dowjones.com


(END) Dow Jones Newswires
02-23-12 0853ET
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Penny Roger$ Penny Roger$ 12 years ago
~ Thursday! $TTC ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $TTC ~ Earnings expected on Thursday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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http://stockcharts.com/h-sc/ui?s=TTC&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=TTC
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=TTC#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=TTC+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=TTC
Finviz: http://finviz.com/quote.ashx?t=TTC
~ BusyStock: http://busystock.com/i.php?s=TTC&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=TTC >>>>>>



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*If the earnings date is in error please ignore error. I do my best.
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Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/The-Toro-Company-Acquires-bw-2915022263.html?x=0
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MrMajik55 MrMajik55 12 years ago
Testing...
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MrMajik55 MrMajik55 12 years ago
Just testing the signature thing...
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