Toro - TTC STOCK NEWS

HammerHead Trenchless, a division of The Toro Company (NYSE: TTC), has acquired the assets of ProKASRO Services USA, a market leader in robotic solutions and rehabilitation equipment for underground water and wastewater infrastructure repair. Based in Centennial, Colorado, ProKASRO is known for its robotics, UV pipe lining solutions, and lateral rehabilitation technologies that enable contractors to repair underground pipelines without digging.

The acquisition expands HammerHead's product portfolio in the trenchless pipe rehabilitation and replacement market, covering both CIPP and pipe bursting markets. HammerHead will continue marketing these products under the ProKASRO USA brand name, maintaining operations in Colorado. With service facilities in both Wisconsin and Colorado, the company aims to maintain quality standards and expand customer service capabilities.

Simpson Manufacturing Co. (NYSE: SSD) has appointed Angela Drake as an independent director, effective January 1, 2025. Drake will serve on the company's Audit and Finance and Compensation and Leadership Development Committees. She brings nearly 30 years of financial and business management experience, currently serving as Chief Financial Officer at The Toro Company (NYSE: TTC) since March 2023.

Drake's extensive background includes leadership positions at The Toro Company between 2019-2023, including Vice President of Finance, Vice President of Construction, and Senior Managing Director, Integration Co-Lead. She previously served as CFO at Charles Machine Works before its acquisition by Toro. Drake is a Certified Public Accountant with a BS in Accounting from the University of Central Oklahoma and serves on the board of First Bank & Trust Company.

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.