Toro 2022 Sales Up 14%

    Dec. 23, 2022
    Toro
    The Toro Co 63a4bd1d688d8

    Full-year 2022 sales rose 14 percent, according to Toro, totaling $4.51 billion. Earnings for the year were up 8 percent to $443.3 million.

    The company said full-year sales in the professional segment, which includes Toro light construction and Ditch Witch underground brands, were up 17.1 percent to $3.43 billion, driven by net price realization and the Intimidator Group acquisition.

    “In the fourth quarter, professional segment demand was broad-based,” said Richard M. Olson, chairman/CEO, in a statement. “Our biggest constraint remained our ability to fulfill the heightened backlog of orders given the current supply chain environment.”

    For 2023, the company expects net sales growth in the range of 7 to 10 percent.

    Source: The Toro Co.

    About the Author

    Rod Sutton

    Sutton has served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001. 

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