Toro Co Q1 Profit Decreases, but beats estimates

(RTTNews) - Toro Co (TTC) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $69.51 million, or $0.66 per share. This compares with $111.28 million, or $1.02 per share, in last year's first quarter.

Excluding items, Toro Co reported adjusted earnings of $69.69 million or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.8% to $932.65 million from $872.99 million last year.

Toro Co earnings at a glance (GAAP) :

-Earnings (Q1): $69.51 Mln. vs. $111.28 Mln. last year. -EPS (Q1): $0.66 vs. $1.02 last year. -Analyst Estimates: $0.62 -Revenue (Q1): $932.65 Mln vs. $872.99 Mln last year.

-Guidance: Full year EPS guidance: $3.90 to $4.10