Loading...
•
Oct 31, 2021
Toro Q4 2021 Earnings Report
Reported record full-year fiscal 2021 results, with double-digit net sales growth in both segments in the fourth quarter.
Key Takeaways
The Toro Company reported strong Q4 and full-year fiscal 2021 results, exceeding top- and bottom-line guidance with double-digit net sales growth in both the professional and residential segments. Despite global supply chain challenges and inflationary pressures, the company delivered solid results through employee and channel partner collaboration.
Net sales increased by 14.2% year over year to $960.7 million.
Professional segment net sales were up 13.7%.
Residential segment net sales increased by 19.8%.
Reported and adjusted diluted EPS were $0.56.
Toro
Toro
Toro Revenue by Segment
Toro Revenue by Geographic Location
Revenue by Segment
Professional Revenue
CapyFin.comResidential Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
For fiscal year 2022, management expects net sales growth in the range of 8% to 10% and adjusted EPS in the range of $3.90 to $4.10 per diluted share. The guidance is based on current visibility and reflects expectations for a strong demand environment and increasing net price realization, coupled with the continuation of a challenging operating environment.
Positive Outlook
- Robust demand for innovative products
- Focus on serving customers
- Benefits from productivity initiatives
- Benefits from pricing actions
- Strong demand environment
Challenges Ahead
- Challenging macro environment will continue for at least the near term
- Managing expenses prudently
- Prioritizing investments that support long-term, sustainable growth across businesses
- Global supply chain challenges
- Inflationary pressures
Revenue & Expenses
Visualization of income flow from segment revenue to net income