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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.
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.
The Toro Company (NYSE: TTC) has released its 2023 Sustainability Impact Report, detailing achievements across its strategic priorities of growth, operational excellence, and empowering people. Key goals include increasing battery and hybrid product sales to 20% of total sales and reducing Scope 1 and 2 greenhouse gas emissions by 15% by 2025. Notable achievements include partnerships for workforce development, recognition by Newsweek as one of the World’s Most Trustworthy Companies, and substantial investments in scholarships and youth programs. The company also reported advancements in product innovation and operational efficiency, such as LED lighting installation, energy practice assessments, and eWaste recycling events. For the full report, visit www.thetorocompany.com/sustainability.
The Toro Company (NYSE: TTC) announced its Q2 fiscal 2024 results, showcasing record net sales of $1.35 billion, a slight increase from $1.34 billion in Q2 2023.
Despite this, diluted EPS fell to $1.38 from $1.59, while adjusted diluted EPS dropped to $1.40 from $1.58. Exceptional growth in the residential segment was highlighted, driven by mass channel sales and new product success.
Professional segment sales decreased by 5.9%, primarily due to lower zero-turn mower shipments. Toro also made progress in reducing dealer field inventories.
For fiscal 2024, Toro reaffirmed its guidance of low single-digit net sales growth and adjusted diluted EPS between $4.25 and $4.35, citing robust demand in the professional segment and recovery signs in homeowner markets.
The Toro Company (NYSE: TTC) has announced a regular quarterly cash dividend of $0.36 per share of its common stock.
The dividend will be payable on July 11, 2024, to shareholders who are on record as of June 18, 2024.
The Toro Company, a global outdoor solutions provider, will announce its fiscal 2024 second-quarter results on June 6. The earnings release will be available on their website, followed by an earnings conference call.
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