Toro Sees Q2 Earnings Below View; But Raises 2016 Outlook - Quick Facts

(RTTNews) - While reporting its first-quarter financial results today, Toro Co. (TTC) forecast earnings for the second quarter below analysts' expectations, but raised its earnings outlook for fiscal 2016.

For the second quarter, Toro expects net earnings of about $1.75 to $1.80 per share. On average, four analysts expect the company to earn $1.83 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2016, Toro continues to expect revenue growth to be about 4 percent, and now expects net earnings per share to be about $3.85 to $3.95. Earlier, the company forecast earnings for the year of $3.80 to $3.90 per share.

Analysts expect the company to earn $3.93 per share for the year on revenue growth of 4.6 percent to $2.50 billion.