Toro Company Posts Better Than Expected Fiscal Third Quarter Earnings

BLOOMINGTON, Minn. (AP) — Toro Co. (TTC) on Thursday reported fiscal third-quarter earnings of $96.3 million.

On a per-share basis, the Bloomington, Minnesota-based company said it had a profit of 89 cents. Earnings, adjusted for one-time gains and costs, came to 92 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The landscaping, maintenance, and irrigation equipment maker posted revenue of $976.8 million in the period. Toro expects full-year earnings in the range of $3.53 to $3.57 per share.

Toro shares have risen 14% since the beginning of the year. The stock has climbed 40% in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on TTC at https://www.zacks.com/ap/TTC

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