Toro Company Q3 2024 net sales up 7%, misses analyst expectations, lowers full-year earnings guidance.
The Toro Company reported Q3 2024 earnings with net sales of $1.16 billion, a nearly 7% increase year-over-year. However, it fell short of analysts' expectations and lowered its full-year earnings guidance to $4.15-$4.20 per share. The residential segment saw strong growth, while professional product demand weakened. CEO Rick Olson highlighted challenges from macroeconomic pressures, impacting consumer spending. Toro's stock dropped over 10% following the announcement.
September 05, 2024
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