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Jan 29, 2021
Toro Q1 2021 Earnings Report
Reported strong first-quarter fiscal 2021 results, driven by professional landscape contractor sales and residential snow products.
Key Takeaways
The Toro Company reported a strong start to fiscal 2021, with net sales up 13.7% year over year to $873.0 million. This growth was primarily driven by higher shipments of professional landscape contractor zero-turn riding mowers and robust retail demand for residential snow equipment and Flex-Force battery-powered products. Reported EPS increased by 56.9% to $1.02, while adjusted EPS rose by 32.8% to $0.85.
Net sales reached $873.0 million, a 13.7% increase year over year.
Professional segment net sales increased by 9.3%, and Residential segment net sales increased by 31.3%.
Reported diluted EPS was $1.02, while adjusted diluted EPS was $0.85, a 32.8% increase year over year.
The company resumed share repurchases due to its strong cash position.
Toro
Toro
Toro Revenue by Segment
Toro Revenue by Geographic Location
Revenue by Segment
Professional Revenue
CapyFin.comResidential Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
The Company is reaffirming its full-year fiscal 2021 guidance of total net sales growth in the range of 6.0% to 8.0% and *adjusted EPS in the range of $3.35 to $3.45 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income