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Apr 29, 2022
Toro Q2 2022 Earnings Report
Reported solid results driven by operational execution and improved full-year outlook.
Key Takeaways
The Toro Company reported an 8.7% increase in net sales to $1.25 billion for the second quarter of fiscal 2022. Diluted EPS was $1.24, with adjusted diluted EPS at $1.25. The company raised its full-year fiscal 2022 net sales and adjusted diluted EPS guidance.
Net sales increased by 8.7% year-over-year, reaching $1.25 billion.
Reported diluted EPS was $1.24, and adjusted diluted EPS was $1.25.
Sequential gross margin and adjusted operating earnings margin improved from the first quarter of fiscal 2022.
Full year fiscal 2022 net sales and adjusted diluted EPS guidance were raised.
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 raising its full-year fiscal 2022 guidance, and now expects total net sales growth in the range of 14% to 16% and adjusted EPS in the range of $4.00 to $4.15 per diluted share.
Positive Outlook
- Ongoing strength in demand.
- Operational execution.
- Modest accretion from the Intimidator Group acquisition.
- Strategic investments in alternative power.
- Strategic investments in smart-connected and autonomous solutions.
Challenges Ahead
- Global supply chain environment impacts ability to meet elevated demand.
- Dynamic macro environment.
- Potential charges or gains are inherently uncertain and difficult to predict.
- Combined effect and timing of recognition of potential charges or gains is inherently uncertain and difficult to predict.
- Any adjustments could have a substantial effect on U.S. GAAP measures of financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income