Toro Releases 2Q Fiscal Results

May 28, 2015

Toro reported net earnings of $93.8 million, or $1.64 per share, on a net sales increase of 10.9 percent to $826.2 million for its 2015 second quarter ended May 1, 2015. In the comparable fiscal 2014 period, the company delivered net earnings of $87.1 million, or $1.51 per share, on net sales of $745 million.

“Good spring weather conditions helped generate robust retail sales during the quarter,” said Michael J. Hoffman, Toro’s chairman and chief executive officer.

For the first six months of 2015, Toro reported net earnings of $124.7 million, or $2.18 per share, on a net sales increase of 9.2 percent to $1.3 billion. In the comparable fiscal 2014 period, the company posted net earnings of $113 million, or $1.95 per share, on net sales of $1.191 billion.

“Our residential segment contributed double-digit revenue growth in the year-to-date period due to strong retail demand for residential zero-turn riding and walk power mowers, as well as higher demand for our residential snow thrower products,” said Hoffman.

“On the professional side of our business, the addition of the BOSS snow and ice management products, higher sales of landscape maintenance equipment and solid demand for our golf turf maintenance equipment all helped us to deliver record results for the period.”