Turf equipment maker Toro's Q3 sales & adj EPS beat estimates, raises outlook

The Toro

03/09/2026 13:41

Overview
U.S. outdoor equipment maker's fiscal Q3 sales rose 8.4%, beating analyst expectations
Adjusted EPS for fiscal Q3 increased 7.3%, beating analyst expectations
Company raised full-year sales and adjusted EPS guidance on strong demand trends

Outlook
Toro raises full-year net sales growth outlook to 6.3%-6.6%, up from 4.0%-6.5%
Company now sees full-year adjusted EPS of $4.60-$4.65, up from $4.50-$4.62
Toro says end markets remain healthy and demand for new products is strong

Result Drivers
PROFESSIONAL SEGMENT DEMAND - Co said higher volume, improved pricing, and Tornado acquisition drove Professional segment sales growth
RESIDENTIAL SEGMENT IMPROVEMENT - Co said higher volume of walk power mowers and improved pricing drove Residential segment growth
PRODUCTIVITY INITIATIVES - Co said productivity improvements and net price realization supported margin expansion

Company press release: ID:nBw64tRpLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$1.23 bln
$1.19 bln (5 Analysts)
Q3 Adjusted EPS
Beat
$1.33
$1.31 (5 Analysts)
Q3 EPS
 
$0.81
 
Q3 Adjusted Net Income
 
$126.80 mln
 
Q3 Net Income
 
$77 mln
 
Q3 Gross Margin
 
34.10%
 
Q3 Gross Profit
 
$418.10 mln
 
Q3 Operating earnings
 
$115.20 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"
Wall Street's median 12-month price target for The Toro Company is $117.00, about 18% above its September 2 closing price of $99.15
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 18 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)