TTC
The Toro Company72.65
-0.83-1.13%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
7.17BP/E (TTM)
22.08Basic EPS (TTM)
3.29Dividend Yield
0.02%Recent Filings
8-K
8-K
Toro acquires Tornado for CAD $279M
The Toro Company signed an agreement on October 6, 2025, to acquire Tornado Infrastructure Equipment Ltd. for CAD $279 million in cash, targeting a close in fiscal 2026 Q1. This bolsters Toro's underground construction lineup with Tornado's vacuum trucks, building on their 2022 supply deal, while expecting $3 million in annual cost synergies over three years. Deal hinges on shareholder and regulatory nods. Integration risks loom large.
8-K
Toro issues $200M notes to refinance
The Toro Company issued $200 million in 5.27% senior notes due September 30, 2032, on September 30, 2025, via a private placement to refinance its $200 million term loan from April 2022 and support general corporate needs. The unsecured notes carry semiannual interest starting March 30, 2026, with prepayment options including a make-whole premium, while covenants limit leverage to 3.50:1 and priority debt to 20% of assets. This swap extends maturities but ties Toro to stricter terms than its prior loan.
8-K
VP International departing
10-Q
Q3 FY2025 results
Toro's Q3 FY2025 net sales dipped 2.2% y/y to $1,131.3M, with Professional segment up 5.7% y/y to $930.8M on stronger underground construction and golf shipments, while Residential fell 27.9% y/y to $192.8M amid broad weakness. Gross margin slipped to 33.7% from 34.8%, pressured by higher material costs and inventory adjustments, yet operating earnings held at $64.8M after an $81.1M non-cash impairment on the Spartan trade name. Diluted EPS dropped to $0.54 from $1.14, reconciling to 99.0M shares with minor dilution; net loss exceeded operating by over 20% due to the impairment, offset by a $19.7M tax benefit. Cash stood at $201.0M with $782.9M revolver availability against $1,032.2M total debt, while free cash flow reached $291.9M (derived) for the nine months. Divestitures of auger boring and Trencor lines were immaterial. Yet competition in turf equipment lingers as a key risk.
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