The Toro Company (NYSE:TTC) manufacturer of turf maintenance equipment and services, is expected to report third quarter earnings results, before market open, on Thursday 3rd September 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.55 per share from revenue of $ 772.58 million.
Looking ahead, the full year income are expected at $ 2.49 per share on the revenues of $ 3177.88 million.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 3,600.00 million ~ $ 3,600.00 million, where as bottomline are predicted in a range of $ 3.33 ~ $ 3.40 per share
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Previous Quarter Performance
The Toro Company recorded income for the second quarter of $ 0.92 per share, from the revenue of $ 929.40 million. The quarterly earnings shrunk 21.37 percent compared with the same quarter last year. Street analysts expected The Toro Company to report income of $ 1.33 per share on revenue of $ 1156.47 million for the second quarter. The bottom line results missed street analysts by $ 0.41 or 30.83 percent, at the same time, top line results fell short of analysts by $ 227.07 million or 19.63 percent.
Stock Performance
Shares of The Toro Company traded up $ 0.88 or 1.13 percent on Wednesday, reaching $ 78.50 with volume of 321.70 thousand shares. The stock opened positive for the day at $ 77.82, after closing the previous day trading at $ 77.62.
According to the previous trading day, closing price of $ 77.62, representing a 49.07 % increase from the 52 week low of $ 52.07 and a 7.88 % decrease over the 52 week high of $ 84.26.
The company has a market capital of $ 8.41 billion and is part of the Industrials sector and Tools & Accessories industry.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The companys Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders. It also provides irrigation products comprising sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, coupling systems, and agricultural irrigation system drip tape and hose products, as well as professionally installed lighting products through distributors and landscape contractors.
