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The Toro Company's first quarter net sales up 6.8%

3 March 2022
1 min.
The Toro Company's first quarter net sales up 6.8%

The company's shares and its report

The Toro Company (NYSE: TTC), a US-based commercial equipment manufacturer for the agricultural and government sectors, today released its report for the first quarter of fiscal year 2022.

The company's shares closed up 2.52% in yesterday's trading, with a value per share of US$96.78.

During yesterday's trading day, the total volume of shares bought and sold so far during the period since the start of the trading day (Volume) was 533,960. However, the average daily trading volume in units (Avg. Volume) was 511,766.

The minimum value per share of the company was US$94.12 and the maximum value was US$97.66.

Over the last 5 days, the company's share price has added 3.78 (+4.06%).

Company report

The company said in its report that net sales in the first quarter were up 6.8% year-on-year ($932.7 million). Also, net sales of the professional segment grew by 3.5 per cent and net sales of the residential segment grew by 17.3 per cent.

The company reported first quarter and adjusted diluted earnings per share of $0.66.

Moreover, the company noted that gross profit performance has improved consistently since Q4 FY2021, driven by higher net realisable value and improved operating performance, compared to the same period in the previous year, impacted by increased inflationary pressures and product availability constraints.

President and CEO Richard M. Olson said: "We delivered solid financial results for the quarter and continued to advance our strategic initiatives."

The Toro Company was founded in 1914. The company is headquartered in Bloomington, Minnesota, USA.

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Chairman of the Board, President and Chief Executive Officer at The Toro Company
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