Toro (TTC) reported earnings on Thur 24 August 2017 (b/o)

** charts before earnings **

 

** charts after earnings **

Toro beats by $0.04, reports revs in-line; guides FY17 EPS above consensus, revs in-line

• Reports Q3 (Jul) earnings of $0.61 per share, $0.04 better than the Capital IQ Consensus of $0.57; revenues rose 4.5% year/year to $627.9 mln vs the $628.08 mln Capital IQ Consensus
• Strong results driven by increased demand for professional segment products
• Co issues upside EPS guidance for FY17, sees EPS of $2.38 vs. $2.36 Capital IQ Consensus Estimate; sees FY17 revs at least 4.5% growth, which calculates to ~$2.50 bln vs. $2.51 bln Capital IQ Consensus Estimate
• Co said, "With the fourth quarter underway, we are encouraged by the retail trends we are seeing, particularly across many of our professional businesses. BOSS is well positioned with several new product offerings to support the needs of our contractor customers as they prepare for the snow season. Similarly, sales of our residential snow throwers have also been favorable as the channel anticipates the upcoming snow season."