Toro Company Reaffirms 2023 Net Sales, Adj. EPS Guidance

(RTTNews) - The Toro Company (TTC) announced, for fiscal 2023, the company continues to expect net sales growth in the range of 7% to 10% and adjusted EPS in the range of $4.70 to $4.90.

"Our momentum continues to be supported by the exceptional demand and substantial order backlog for products in key professional end markets, as well as the expected benefits from our pricing and productivity initiatives. We anticipate continued improvements in the supply chain, which combined with our operational execution, position us to increase product availability and enhance profitability," said Richard Olson, CEO.

First-quarter net earnings was $106.9 million, up 54% from previous year. EPS was $1.01, up 53% year over year. Adjusted EPS was $0.98, up 49% year over year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.94, for the quarter. Analysts' estimates typically exclude special items.

First-quarter net sales were $1.15 billion, up 23% year over year. Analysts on average had estimated $1.16 billion in revenue.

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