NYSE$TTC
The Toro Company · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
The Toro Company's Q1 2024 results reflected continued strength in demand across construction, and golf and grounds markets, offset by lower shipments of zero-turn mowers and snow products.
The Toro Company reported first-quarter net sales of $1.00 billion and diluted EPS of $0.62. The company reaffirms full-year fiscal 2024 guidance, expecting low-single-digit total company net sales growth and adjusted diluted EPS in the range of $4.25 to $4.35.
- Net sales were $1.00 billion, a decrease of 13% compared to the same period in fiscal 2023.
- Reported diluted EPS was $0.62, compared to $1.01 in the same period of fiscal 2023.
- Adjusted diluted EPS was $0.64, compared to $0.98 in the same period of fiscal 2023.
- The company continues to expect low-single-digit total company net sales growth and adjusted diluted EPS in the range of $4.25 to $4.35 for fiscal year 2024.
Headline financials
Revenue & EPS history
Toro · Revenue · Quarterly
$1B
Revenue by segment
Toro · $1.42B total across 3 segments · Q2 2026
- Professional$1.11B—77.7%
- Residential$310M—21.8%
- Other$7.7M—0.5%
Forward guidance
For fiscal 2024, the company continues to expect low-single-digit total company net sales growth and adjusted diluted EPS in the range of $4.25 to $4.35.
Tailwinds
- Continued strong demand and more stable supply for businesses with elevated order backlog
- Homeowner markets will begin stabilizing this spring
- Incremental growth from expanded mass retailer channel will help offset dynamic
- Sustained demand in underground and specialty construction, and golf and grounds businesses.
- Prioritizing investments in advanced technologies and solutions that we expect will drive long-term profitable growth and value for all stakeholders
Headwinds
- Continuation of macro factors that have driven increased consumer and channel caution
- Manufacturing inefficiencies as production and inventory levels continue to be adjusted to market conditions
- Below-average snowfall activity year-to-date
- Assumes weather patterns aligned with historical averages for the remainder of the year
- Includes the expected incremental impact of an expanded residential segment mass channel
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 2024
-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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