Mon, Sep. 21, 6:45 PM
- Toro (NYSE:TTC) is taking SPX's (NYSE:SPW) spot in the S&P MidCap 400 following Thursday's close. SPX and Core-Mark (NASDAQ:CORE), meanwhile, will replace Toro and soon-to-be-acquired DealerTrak in the S&P SmallCap 600. (PR)
- SPX's SPX Flow spinoff will replace Christopher & Banks (NYSE:CBK) in the S&P 600 following Friday's close. S&P states CBK "is ranked near the bottom of the S&P SmallCap 600 and is no longer appropriate for that index."
- TTC +1.3% after hours. CORE +3.9%. CBK -3.6%.
Aug. 22, 2013, 11:23 AM
- Toro (TTC +4.8%) gains on a solid FQ3 beat, as strong sales in its residential unit offset declines in its professional products. Results were strengthened by a solid summer growing season, with favorable temperatures and precipitation levels as compared to last year's severe drought conditions.
- Looking forward, the company says that momentum from productivity efforts and favorable commodity trends should drive additional earnings gains.
- It's raising revenue growth expectations for FY13, now expecting around 4% growth and net earnings to be about 2.55 per share, a 19% increase over FY12 and above the Street view of $2.40.
May 23, 2013, 3:16 PMToro (TTC +3.7%) moves up today after posting a better than expected FQ2. Net earnings rose 14% Y/Y on sales strength in its professional segment, which helped offset a 13% decline in residential sales. The company says that although it backs current earnings guidance, it's lowering revenue growth expectations to between 3% and 4%, compared with its February forecast of a 5% revenue increase. Gross margin improved to 35.8% from 34%. | May 23, 2013, 3:16 PM | Comment!
Dec. 5, 2012, 12:51 PMShares of Toro (TTC -3%) slide after its FQ4 top line result missed estimates this morning. Net earnings dropped 95% as weather conditions hurt the grounds-care equipment maker's sales. The company also lowered guidance for FY13, citing challenges in Europe. It now expects revenue growth to be about 4% to 5%. Earnings are anticipated to be $2.35 - $2.40 per share, below Street estimates of $2.44. | Dec. 5, 2012, 12:51 PM | Comment!
Aug. 23, 2012, 8:35 AM
Aug. 20, 2012, 3:59 PMToro (TTC -4.7%) shares are downgraded by Raymond James ahead of Thursday's FQ3 report: "Recent results from competitors/suppliers have been hurt by the late-season drought, and while we believe Toro will post better relative results, we do not believe its business will be totally unscathed... now is a good time to take profits." | Aug. 20, 2012, 3:59 PM | Comment!
May 24, 2012, 3:09 PMToro (TTC +7.5%) pops on a strong FQ2 report earlier today. Net earnings rose 14% Y/Y as unseasonably warm weather and an accelerated Spring helped boost sales of grounds-care equipment. The company also raises its FY12 forecast, now expecting an EPS of approximately $4.30, in the lower end of its previously announced guidance range of $4.30 - $4.35, but still better than Street estimates of $4.29. The company also expects revenue growth of 7% - 8% Y/Y. | May 24, 2012, 3:09 PM | Comment!
TTC vs. ETF Alternatives
Toro Co is engaged in designs, manufactures, and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment, and residential yard and snow removal products.
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