Toro Q3 2021 Earnings Report
Key Takeaways
The Toro Company reported record third-quarter fiscal 2021 results, with net sales up 16.2% year over year to $977 million. The company raised its full-year fiscal 2021 net sales and adjusted diluted EPS guidance.
Net sales increased by 16.2% year-over-year, reaching $977 million.
Professional segment net sales rose by 15.2%, while Residential segment net sales increased by 23.0%.
Reported EPS stood at $0.89, with adjusted diluted EPS at $0.92, marking a 12.2% increase year-over-year.
The company is increasing its full-year fiscal 2021 guidance, and now expects net sales growth of about 17% and *adjusted EPS in the range of $3.53 to $3.57 per diluted share.
Toro
Toro
Toro Revenue by Segment
Toro Revenue by Geographic Location
Forward Guidance
The company is increasing its full-year fiscal 2021 guidance, and now expects net sales growth of about 17%, up from a range of 12% to 15% previously, and *adjusted EPS in the range of $3.53 to $3.57 per diluted share.
Positive Outlook
- Anticipate continued strong demand for product offerings.
- Encouraged by the benefits from productivity and synergy initiatives.
- Positioned to deliver excellent results for the full fiscal year.
- Expect record organic growth.
- Approaching $4 billion in annual revenue.
Challenges Ahead
- Likely to be a challenging supply chain environment into next year.
- Inflation pressures.
- Labor environment pressures.
- Continuing supply chain pressures.
- Continuing inflation pressures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income