Toro Company reports Q3 adjusted EPS $1.24, consensus $1.22

Reports Q3 revenue $1.13B, consensus $1.16B. “We delivered third-quarter adjusted earnings that exceeded our expectations, with our Professional segment achieving 6 percent growth and 250 basis points of margin expansion,” said Richard Olson, chairman and chief executive officer. “Strong momentum in underground construction and golf and grounds, coupled with savings from our AMP productivity program, enabled us to exceed adjusted earnings expectations despite headwinds in our Residential segment. Looking ahead, while we are taking a prudent approach, given challenges in Residential, our continued innovation leadership and focus on productivity, position us to further improve profitability and shareholder returns as markets recover.”