Toro Company ( (TTC) ) has released its Q4 earnings. Here is a breakdown of the information Toro Company presented to its investors.
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The Toro Company is a global leader in providing solutions for the outdoor environment, specializing in turf and landscape maintenance, snow and ice management, and irrigation systems, with a significant presence in more than 125 countries.
In its latest financial results, The Toro Company reported record full-year net sales of $4.58 billion for fiscal 2024, driven by strong performance in its residential segment, underground construction, and golf. The company also highlighted significant improvement in cash generation, supporting increased share repurchases.
The Toro Company achieved a full-year reported diluted EPS of $4.01 and an adjusted diluted EPS of $4.17, reflecting a notable increase from the previous year. The fourth quarter alone saw net sales rise to $1.08 billion, marking a 9% increase from the same period in fiscal 2023, accompanied by a 30% boost in diluted EPS. The professional segment, particularly golf and grounds products, contributed significantly to these results, although there was a noted decrease in shipments for lawn care and compact utility products.
Looking ahead, The Toro Company is optimistic about fiscal 2025, expecting adjusted diluted EPS in the range of $4.25 to $4.40. The management remains confident in achieving earnings growth supported by strong market demand, a robust product lineup, and an effective productivity initiative aimed at cost savings.
Overall, The Toro Company is well-positioned to capitalize on future growth opportunities, with a focus on maintaining its leadership across its diverse portfolio and addressing inventory challenges in specific segments as it enters the new fiscal year.
