- The Toro Company (TTC, Financial) reports Q2 net sales of $1.32 billion, slightly down from last year.
- Adjusted diluted EPS for Q2 rises to $1.42 from $1.40 year-on-year.
- Updated fiscal 2025 guidance: net sales expected to range from flat to down 3%.
The Toro Company (TTC), a global leader in outdoor environment solutions, announced its financial results for the second quarter of fiscal 2025, ending May 2. The company reported net sales of $1.32 billion, a slight decrease from the same quarter last year. The reported diluted earnings per share (EPS) for the quarter was $1.37, a minor decrease from $1.38 in the previous year. However, the adjusted diluted EPS saw a rise to $1.42, compared to $1.40 in the same period of fiscal 2024.
Richard M. Olson, Chairman and CEO, emphasized the company's focus on the Professional segment, which showed resilience despite pressures in the Residential segment. The Professional segment saw net sales of $1.014 billion, a 0.8% increase, driven by demand for golf and grounds products. Earnings for this segment rose to $202.1 million from $190.7 million the previous year.
The Residential segment faced challenges, with net sales dropping 11.4% to $297.4 million, primarily due to lower shipments of various products and previous year divestitures. Earnings for this segment also declined significantly from $36.1 million to $16.1 million, affected by higher costs and lower sales volume.
The company has updated its full-year fiscal 2025 guidance, anticipating net sales to be flat or decline by up to 3%. The forecast for adjusted diluted EPS is between $4.15 and $4.30, reflective of current market conditions, including anticipated tariff impacts and macroeconomic challenges.
Toro's management remains optimistic about navigating near-term headwinds by leveraging its strong portfolio and disciplined execution.
