Toro Lowers Full-Year Outlook As Residential Sales Slump, Costs Weigh on Margins
Toro Q2 sales down 2% Y/Y to $1.32B, missing consensus of $1.35B. Residential segment sales fell 11.4%, segment earnings down to $16.1M from $36.1M. Professional segment sales up 0.8%, segment earnings up to $202.1M from $190.7M. Adjusted EPS of $1.42 (+1% Y/Y), beating consensus of $1.40. Toro lowers FY25 adjusted EPS guidance to $4.15-$4.30, sees net sales growth of flat to -3%. TTC shares down 3.14% at $73.19. Invesco Water Resources ETF (PHO) and Neuberger Berman Small-Mid Cap ETF (NBSM) provide exposure to the stock.