NYSE$TTC
The Toro Company · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Achieved record results for the first quarter of fiscal 2023, driven by strong professional segment performance and improved profitability.
The Toro Company reported record first-quarter net sales of $1.15 billion, a 23% increase year over year. Reported diluted EPS was $1.01, up 53% year over year, and adjusted diluted EPS was $0.98, up 49% year over year. The company reaffirms full-year fiscal 2023 net sales and adjusted diluted EPS guidance.
- Record first-quarter net sales of $1.15 billion, up 23% year over year
- First-quarter reported diluted EPS of $1.01, up 53% year over year
- Record first-quarter *adjusted diluted EPS of $0.98, up 49% year over year
- Reaffirms full-year fiscal 2023 net sales and *adjusted diluted EPS guidance
Headline financials
Revenue & EPS history
Toro · Revenue · Quarterly
$1.15B
Revenue by segment
Toro · $1.15B total across 3 segments · Q1 2023
- Professional$881M+30.9%76.7%
- Residential$265M+3.6%23.0%
- Other$3.57M—0.3%
Forward guidance
For fiscal 2023, management continues to expect net sales growth in the range of 7% to 10% and *adjusted diluted EPS in the range of $4.70 to $4.90.
Tailwinds
- Exceptional demand and substantial order backlog for products in key professional end markets
- Expected benefits from pricing and productivity initiatives
- Anticipate continued improvements in the supply chain
- Operational execution, position us to increase product availability and enhance profitability
- Benefit from our innovative product lineup, extensive service and support networks, and well-established market leadership
Headwinds
- Current macroeconomic environment
- Guidance assumes steady supply chain improvement throughout the year
- Guidance assumes a return to a more typical distribution of quarterly sales.
- Impact of laws, regulations and standards, consumer product safety, accounting, taxation, trade, tariffs and/or antidumping and countervailing duties petitions, healthcare, and environmental, health and safety matters
- The company’s adjusted diluted EPS guidance for fiscal 2023 excludes certain items that are inherently uncertain and difficult to predict
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-0.4%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-1.3%
Avg return
30 days after
43%
30 / 69 earnings
Positive
+20.5%
Q2 2024
Best reaction
-17.4%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -2.4% | +0.8% | — | |
| Q1 2026 | -2.1% | -1.8% | -8.0% | |
| Q4 2025 | +10.7% | +8.0% | +23.3% | |
| Q3 2025 | -0.0% | -2.2% | -4.6% | |
| Q2 2025 | +2.4% | +3.1% | +8.4% | |
| Q1 2025 | -4.9% | -3.3% | -15.7% | |
| Q4 2024 | -4.9% | -6.0% | -2.2% | |
| Q3 2024 | -9.8% | -9.0% | -7.7% | |
| Q2 2024 | +20.5% | +19.8% | +10.7% | |
| Q1 2024 | -4.8% | -5.9% | -7.4% | |
| Q4 2023 | +11.6% | +10.7% | +4.0% | |
| Q3 2023 | -17.4% | -17.4% | -15.4% | |
| Q2 2023 | -7.6% | -6.3% | -3.3% | |
| Q1 2023 | -3.5% | -2.4% | -10.8% | |
| Q4 2022 | -0.8% | +0.9% | -2.3% | |
| Q3 2022 | -0.3% | +2.6% | +4.3% | |
| Q2 2022 | +6.6% | +7.7% | -5.0% | |
| Q1 2022 | -6.7% | -14.6% | -10.6% | |
| Q4 2021 | +0.9% | -4.9% | +0.2% | |
| Q3 2021 | +1.2% | -1.4% | -9.5% | |
| Q2 2021 | -4.2% | -2.8% | +1.2% | |
| Q1 2021 | -1.7% | -2.7% | +5.1% | |
| Q4 2020 | +0.8% | +1.7% | +5.2% | |
| Q3 2020 | +2.6% | +2.4% | +8.0% | |
| Q2 2020 | +2.1% | +1.4% | -6.4% | |
| Q1 2020 | -2.4% | -4.7% | -19.3% | |
| Q4 2019 | -5.4% | -1.6% | +2.7% | |
| Q3 2019 | -1.2% | -1.7% | +0.5% | |
| Q2 2019 | -6.5% | -7.9% | -1.4% | |
| Q1 2019 | +3.3% | +2.6% | +9.5% | |
| Q4 2018 | -1.8% | -2.9% | -5.1% | |
| Q3 2018 | -2.9% | -0.9% | +1.1% | |
| Q2 2018 | +0.8% | +0.2% | -1.0% | |
| Q1 2018 | +2.4% | +3.3% | -3.9% | |
| Q4 2017 | +2.9% | +0.8% | +4.1% | |
| Q3 2017 | -10.8% | -12.6% | -10.7% | |
| Q2 2017 | +0.4% | +1.2% | +5.5% | |
| Q1 2017 | -1.0% | -0.8% | +0.4% | |
| Q4 2016 | +3.9% | +1.5% | +5.0% | |
| Q3 2016 | +3.8% | +5.0% | +0.2% | |
| Q2 2016 | -3.4% | — | — | |
| Q1 2016 | +5.3% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | -0.7% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | -1.5% | — | — | |
| Q4 2014 | -6.0% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | +2.4% | — | — | |
| Q1 2014 | -0.3% | — | — | |
| Q4 2013 | -1.2% | — | — | |
| Q3 2013 | +10.0% | — | — | |
| Q2 2013 | +2.5% | — | — | |
| Q1 2013 | -0.4% | — | — | |
| Q4 2012 | -6.6% | — | — | |
| Q3 2012 | +1.2% | — | — | |
| Q2 2012 | -1.2% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q3 2011 | -4.5% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q1 2010 | -2.8% | — | — | |
| Q1 2011 | -1.6% | — | — | |
| Q4 2008 | -1.7% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q2 2010 | -1.7% | — | — | |
| Q4 2009 | +2.8% | — | — | |
| Q3 2010 | +2.8% | — | — | |
| Q3 2009 | +2.8% | — | — |
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