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Jul 30, 2021
Toro Q3 2021 Earnings Report
Toro's third-quarter performance was driven by robust sales growth across both professional and residential segments, amidst navigating global supply chain challenges.
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
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 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