By Dean Seal
Toro cut its full-year guidance amid a pullback in lawn-mower demand from homeowners.
The maker of lawn mowers and other outdoor maintenance equipment said Thursday that it now expects sales to fall up to 3% and, at best, come in flat with last year. It previously guided for sales to rise up to 1% and, at worst, come in flat with last year.
Toro also cut its adjusted earnings outlook for the year by 10 cents, saying it expects $4.15 to $4.30 a share.
The revised guidance reflects anticipated tariffs and lower volumes as homeowners become more cautious about their spending, Toro said. Demand continues to be strong for its underground construction and golf-and-grounds businesses.
Shares ticked down 2.7% to $73.51 in premarket trading.
For the fiscal second quarter ended May 2, Toro posted a profit of $136.8 million, or $1.37 a share, compared with $144.8 million, or $1.38 a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were $1.42 a share. Analysts polled by FactSet had been expecting $1.40 a share.
Sales slid 2% to $1.32 billion, below analyst projections for $1.35 billion, according to FactSet.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 05, 2025 08:51 ET (12:51 GMT)
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