Welcome to our dedicated page for Toro Company (The) news (Ticker: TTC), a resource for investors and traders seeking the latest updates and insights on Toro Company (The) stock.
The Toro Company (NYSE: TTC) is a renowned global provider of innovative solutions for the outdoor environment. Specializing in turf, snow, and ground engaging equipment, as well as irrigation and outdoor lighting solutions, Toro has established itself as a leader in the industry. With sales reaching $2.2 billion in fiscal 2014, Toro’s influence extends to over 90 countries worldwide.
Founded on principles of innovation, trust, and integrity, Toro and its family of brands have built a legacy of excellence. The company’s products help customers maintain golf courses, landscapes, sports fields, public green spaces, commercial and residential properties, and agricultural fields.
Core Business
Toro manufactures a comprehensive range of turf maintenance and landscaping equipment. This includes reel and rotary riding products, trim cutting and walking mowers, greens rollers, turf sprayer equipment, and underground irrigation systems. Toro is also a major producer of heavy-duty walk-behind mowers and sprinkler systems used for professional turf and landscape maintenance and construction.
Operating Segments
The company operates under two main segments: Professional and Residential. The Professional segment generates the majority of its revenue and serves predominantly professional users maintaining turfs and sports fields, such as golf courses. The Residential segment caters to homeowners with products designed for home use.
Recent Achievements and Partnerships
Toro consistently engages in projects and partnerships that drive innovation and customer satisfaction. The company is committed to providing equipment that improves the efficiency and effectiveness of outdoor maintenance. Toro’s reputation for quality and reliability is supported by its extensive network of distributors and dealers.
Financial Condition
With a strong market presence and a key revenue-generating market in the United States, Toro continues to show robust financial performance. The company’s dedication to meeting customer needs and expanding its product line ensures its ongoing success and growth in the global market.
For more detailed information about The Toro Company, its products, and latest news, visit www.toro.com.
EMCOR Group (NYSE: EME) announced the election of Amy E. Dahl to its Board of Directors, effective December 18, 2024. Dahl, 50, currently serves as Vice President of International Business & Strategy at The Toro Company (NYSE: TTC), overseeing operations across 125+ countries. Her extensive experience spans strategic planning, legal compliance, mergers and acquisitions, and human resources.
Since joining Toro in 2007, Dahl has held various leadership positions including Vice President, General Counsel and Corporate Secretary. Prior to Toro, she practiced law specializing in securities, corporate governance, and M&A at Norton Rose Fulbright and Lathrop GPM. She holds a B.A. in Political Science from The University of Minnesota and a J.D. from The University of North Dakota School of Law.
The Toro Company (TTC) reported strong fiscal 2024 results with record full-year net sales of $4.58 billion, up from $4.55 billion in 2023. The company achieved full-year reported diluted EPS of $4.01 and adjusted diluted EPS of $4.17. Fourth-quarter performance showed significant improvement with net sales of $1.08 billion and diluted EPS of $0.87.
The company demonstrated exceptional growth in its residential segment through mass channel partnerships, particularly with Lowe's, and successful new product launches. Professional segment saw strong demand in underground construction and golf equipment. The company generated substantial free cash flow of over $470 million and returned nearly $400 million to shareholders through dividends and share repurchases.
Looking ahead, TTC provided fiscal 2025 guidance projecting net sales growth of 0% to 1% and adjusted diluted EPS between $4.25 and $4.40.
The Toro Company (NYSE: TTC) has announced a 5.6% increase in its quarterly cash dividend to $0.38 per share, up from the previous $0.36 per share. This marks the company's 16th consecutive year of dividend increases. The dividend will be paid on January 13, 2025, to shareholders of record as of December 23, 2024.
Additionally, TTC's Board of Directors has authorized a new share repurchase program for up to 4 million shares of common stock, which can be executed through open-market or private transactions.
The Toro Company (NYSE: TTC) announced it will release its fiscal 2024 fourth quarter and full-year results on Wednesday, December 18, at 7:30 a.m. CST. The company will host an earnings conference call at 10 a.m. CST the same day. A live webcast of the earnings call will be available at www.thetorocompany.com/invest, where visitors can register and download necessary audio software in advance. A replay of the call will be available on the website after the event.
The Toro Company (NYSE: TTC) announced its participation in the Baird 2024 Global Industrial Conference scheduled for Wednesday, November 13, 2024, at 12:25 p.m. EST. Chairman and CEO Richard Olson and CFO Angie Drake will represent the company at the conference.
The presentation will be available via webcast on The Toro Company's investor website. Interested parties are advised to register beforehand and install any required streaming software. A replay of the presentation will be accessible on the company's investor website for those unable to attend the live session.
The Toro Company (NYSE: TTC) has announced a regular quarterly cash dividend of $0.36 per share of its common stock. This dividend will be payable on October 11, 2024, to shareholders of record at the close of business on September 30, 2024. The announcement demonstrates TTC's commitment to returning value to its shareholders through consistent dividend payments.
The Toro Company (NYSE: TTC) reported Q3 fiscal 2024 results with net sales of $1.16 billion, up 6.9% year-over-year. Reported diluted EPS was $1.14, up from $(0.14) in Q3 2023, while adjusted diluted EPS rose 24.2% to $1.18. Growth was driven by the residential mass channel, golf and grounds, and underground construction segments. However, increased macro caution in July led to lower-than-expected lawn care shipments to dealers. The company made significant progress in reducing dealer field inventories of lawn care products. Toro revised its full-year adjusted diluted EPS guidance to $4.15 to $4.20. The company expects total net sales growth of about 1% for fiscal 2024, citing continued macro uncertainty affecting consumer and channel caution.
The Toro Company (NYSE: TTC), a leading global provider of outdoor environment solutions, has announced the release of its fiscal 2024 third quarter results on Thursday, September 5, at approximately 7:30 a.m. CDT. The full earnings release will be available on the company's investor relations website. Additionally, Toro will host an earnings conference call at 10 a.m. CDT on the same day. Investors and interested parties can access a live, listen-only webcast of the call through the company's website. Participants are advised to register in advance and install any necessary audio software. A replay of the call will be made available on the website shortly after its conclusion.
Griffon (NYSE: GFF) announced that its subsidiary, The AMES Companies, acquired Pope from The Toro Company. Pope is an Australian provider of residential watering products. This marks AMES's seventh acquisition in Australia since 2013 and expands its product portfolio in the Australian market. Pope is expected to add approximately $25 million in annual revenue and positively impact Griffon's earnings in the first full year. Financial details of the acquisition were not disclosed.
The Toro Company (NYSE: TTC) has announced the sale of its Australia-based residential Pope Products business to The AMES Company, a subsidiary of Griffon (NYSE: GFF). The sold assets, focused on garden watering and irrigation, were exclusively marketed in Australia and New Zealand. This divestiture aligns with Toro's strategy to concentrate on high-growth sectors such as golf, sports fields, and professional contractor markets. Financially, the sale's impact on Toro's fiscal 2024 results is negligible and was already factored into their previous forecasts.
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