Toro rises on Q4 results beat

Toro Co

20/12/2023 14:37

** Shares of turf maintenance equipment manufacturer Toro
 TTC.N  rise 13.4% to $101.20 - hitting their highest level in
over three months
    ** Co reports Q4 adj. EPS of 71 cents, beating LSEG
estimates of 56 cents 
    ** Posts Q4 revenue of $983.2 mln vs analysts' ests of
$973.7 mln 
    ** Product demand robust across underground and specialty
construction, and golf and grounds businesses, offsetting sharp
YoY reduction in homeowner demand - CEO Richard Olsen 
    ** TTC expects multi-year initiative to result in savings of
$100 mln by 2027 
    ** Stock down 10.8% YTD 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))