The Toro Company reports news around its outdoor-environment equipment portfolio, including turf and landscape maintenance, snow and ice management, underground construction, rental and specialty construction, irrigation, and outdoor lighting solutions.
Recurring updates for TTC cover Professional and Residential segment results, dividend and share-repurchase actions, product and brand portfolio developments, and completed acquisitions such as Tornado Infrastructure Equipment. Company announcements also address customer markets that include golf courses, sports fields, construction sites, public green spaces, commercial and residential properties, and agricultural operations.
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The Toro Company (NYSE: TTC) has declared a regular quarterly cash dividend of $0.34 per share, payable on April 19, 2023. Shareholders on record as of April 6, 2023 will receive this dividend. Toro, a leading provider of outdoor solutions, reported $4.5 billion in net sales for fiscal 2022 and operates in over 125 countries. The company is known for its wide range of brands, including Toro, Ditch Witch, and Exmark, providing services in turf maintenance, snow management, and irrigation, among others.
The Toro Company (NYSE: TTC) reported a strong first-quarter performance for fiscal 2023, achieving net sales of $1.15 billion, a 23% year-over-year increase. The diluted EPS rose to $1.01, up 53% year-over-year, with adjusted diluted EPS at $0.98, a 49% increase. The professional segment drove significant growth, with net sales of $880.7 million, up 30.9%, while the residential segment saw a modest 3.6% growth to $264.6 million. The company reaffirms guidance for fiscal 2023, anticipating net sales growth of 7% to 10% and adjusted diluted EPS in the range of $4.70 to $4.90.
The Toro Company (NYSE: TTC) announced the retirement of Renee J. Peterson as Chief Financial Officer effective July 2023. She will be succeeded by Angela C. Drake, currently the vice president of finance, starting March 10, 2023. Peterson has contributed significantly to Toro’s financial strategy and growth since joining in 2011. Drake, who has a strong background in finance and strategic planning, is expected to continue the company's focus on financial discipline and value creation. Toro reported net sales of $4.5 billion in fiscal 2022.
The Toro Company (NYSE: TTC) will release its fiscal 2023 first quarter results on March 9 at 7:30 a.m. CST. The earnings release can be accessed at www.thetorocompany.com/invest. Following the release, an earnings conference call is scheduled for 10 a.m. CST. A live webcast of the call will also be available on the company's website, with a replay option for those who cannot attend. In fiscal 2022, The Toro Company reported net sales of $4.5 billion and operates in over 125 countries.