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Oct 31, 2022
Toro Q4 2022 Earnings Report
Reported record results, driven by strong professional segment momentum and disciplined execution.
Key Takeaways
The Toro Company reported record top and bottom line results for the fourth quarter and full year fiscal 2022, with full-year net sales exceeding four billion dollars for the first time in company history. Demand for innovative products remained strong, especially in key professional markets.
Full-year net sales of $4.51 billion, up 14% year over year
Full-year reported diluted EPS of $4.20; *adjusted diluted EPS of $4.20, up 16% year over year
Fourth-quarter net sales of $1.17 billion, up 22.0% year over year
Fourth-quarter reported diluted EPS of $1.12; *adjusted diluted EPS of $1.11, up 98% year over year
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
For fiscal 2023, management expects net sales growth in the range of 7% to 10% and *adjusted diluted EPS in the range of $4.70 to $4.90. The company's guidance is based on current visibility in this evolving and dynamic macro environment, and reflects expectations for strong demand across key professional markets, normalized seasonal demand patterns for residential and landscape contractor solutions, and continued operational execution. This guidance also assumes steady supply chain improvement throughout the year, with a return to a more typical distribution of quarterly sales.
Positive Outlook
- Substantial order backlogs for products in key professional end markets
- Expected benefits from pricing and productivity initiatives
- Strong position to capitalize on growth opportunities with innovative product line-up
- Trusted brands
- Extensive distribution and service networks
Challenges Ahead
- Heightened level of macroeconomic uncertainty
- Headwinds in today's macro environment
- Agility and flexibility required to navigate headwinds
- Prioritizing investments in key technology areas
- Assumes steady supply chain improvement throughout the year
Revenue & Expenses
Visualization of income flow from segment revenue to net income