$TTC (The Toro Company)

$TTC {{ '2016-07-19T21:25:22+0000' | timeago}} • Announcement

Outdoor equipment maker $TTC said its board of directors elected Richard M. Olson to the position of president and chief executive officer, effective November 1, 2016. Olson was president and chief operating officer since September 2015, the company said.

$TTC {{ '2017-06-14T13:41:55+0000' | timeago}} • Announcement

$TTC said its award-winning drip irrigation recycling service will now offer expanded service capabilities in California’s Central Coast Region, effectively immediately. The service is offered in partnership with Revolution Plastics.

$TTC {{ '2017-05-25T15:32:04+0000' | timeago}} • Webcast

$TTC anticipates golf equipment business to continue strong momentum throughout the year as interest remains high in products that was launched in 2016. The company also expects sales to pick up in residential, commercial, irrigation and lighting businesses as weather shifts to more normal pattern.

$TTC {{ '2017-05-25T13:35:16+0000' | timeago}} • Announcement

$TTC now expects revenue growth for FY17 to be about 4.5% and net earnings per share to increase to about $2.35. For 3Q17, Toro sees net earnings per share to be about $0.56.

$TTC {{ '2017-05-25T13:33:32+0000' | timeago}} • Announcement

In 2Q17, $TTC reported net earnings of $120.5MM or $1.08 per share, on a net sales bump of 4.3% to $872.8MM. Professional segment net sales for the quarter totaled $610.9MM, up 2.6%. Residential segment net sales hiked 8.4% to $258.1MM.

$TTC {{ '2017-05-16T20:42:34+0000' | timeago}} • Announcement

$TTC declared a regular quarterly cash dividend of $0.175 per share. This dividend is payable on July 12, 2017, to shareholders of record on June 23, 2017.

$TTC {{ '2017-03-21T19:04:49+0000' | timeago}} • Announcement

$TTC said its Board of Directors has declared a regular quarterly cash dividend of $0.175 per share, payable on April 12, 2017, to shareholders of record on March 31, 2017.

$TTC {{ '2017-01-03T15:43:15+0000' | timeago}} • Announcement

$TTC completed purchase of privately-held Regnerbau Calw, a manufacturer of professional irrigation equipment. Regnerbau manufactures a variety of irrigation products under the Perrot brand, including retractable sprinklers for sports fields, impact sprinklers and coupling systems for agricultural fields, and rain guns for industrial applications.

$TTC {{ '2016-12-08T17:05:35+0000' | timeago}} • Webcast

$TTC returned about $178MM to shareholders through the payment of $65.9MM in dividends and the repurchase of about 2.7MM shares of common stock. The company experienced increased momentum in its landscape contractor, specialty construction and rental businesses due to the success of TITAN HD zero turn mower and the Dingo TX 1000 products.

$TTC {{ '2016-12-08T17:02:39+0000' | timeago}} • Webcast

$TTC's pre-season demand for snow and ice management products was affected by the lack of snowfall last winter, while mild autumn conditions extended the growing season, which benefitted its turf maintenance businesses. The company is committed to growth and profitability, while maintaining focus on working capital management.

$TTC {{ '2016-12-08T16:32:46+0000' | timeago}} • Webcast

$TTC expects FY17 revenue to grow about 3-4% and net earnings to be about $2.20-2.26 per share. Depreciation and amortization is expected to be $65MM. Gross margin is expected to be at the similar margin of about 36.6% and effective tax rate is expected to be about 29%.

$TTC {{ '2016-12-08T16:25:17+0000' | timeago}} • Webcast

$TTC's Professional segment net sales were $343.5MM, up 5.6% from a year ago, driven largely by the strong demand for golf products paired with favorable weather conditions. Residential segment sales were down 19.2% to $118.8MM, hurt by a decrease in residential snow products sales.

$TTC {{ '2016-12-08T14:22:02+0000' | timeago}} • Announcement

$TTC's BoD declared a quarterly cash dividend of $0.175 per share, a 16.7% increase from its prior quarterly rate of $0.15 per share. This dividend is payable on Jan. 12, 2017 to shareholders of record on Dec. 27, 2016.

$TTC {{ '2016-12-08T14:18:36+0000' | timeago}} • Announcement

$TTC sees FY17 revenue growth to be about 3-4% and EPS of about $2.20-2.26. For 1Q17, $TTC sees EPS to be about $0.34-0.36. With FY17 already underway, $TTC remains committed to delivering innovative products and serving customers across its businesses. Recent weather patterns appear promising, and $TTC is encouraged by resulting retail activity.

$TTC {{ '2016-12-08T14:14:37+0000' | timeago}} • Announcement

Landscaping, maintenance and irrigation equipment maker $TTC reported rise in 4Q16 earnings as favorable commodity costs and enhanced productivity as well as segment mix contributed to increases in gross margin. Net income rose to $30.23MM or $0.27 per share from $23.55MM or $0.21 per share last year. Net sales fell to $468.36MM from $480.81MM.

$TTC {{ '2016-11-04T16:09:53+0000' | timeago}} • Announcement

$TTC agreed to buy privately-held Regnerbau Calw GmbH, a manufacturer of professional irrigation equipment, for undisclosed terms. The transaction is currently expected to close during 1Q17. The company believes that the acquisition will help expand $TTC's global footprint and take its business to the next level.

$TTC {{ '2016-09-20T20:53:32+0000' | timeago}} • Announcement

Outdoor lighting solutions company $TTC said its BoD declared a regular quarterly cash dividend of $0.15 per share, payable on October 14, 2016, to shareholders of record on October 3, 2016. The amount of the quarterly cash dividend is adjusted to reflect the company's two-for-one stock split, which was effective on September 16, 2016.

$TTC {{ '2016-08-18T16:40:05+0000' | timeago}} • Webcast

Cleveland Research analyst Eric Bosshard questions on channel inventory. $TTC says that Residential inventory channel is down somewhat, while Professional inventory is actually up. So, overall the company is up somewhat, but channel inventory is very manageable.

$TTC {{ '2016-08-18T16:34:33+0000' | timeago}} • Webcast

C.L. King analyst James Barrett asks how strong the product pipeline is relative to historical introductions as a potential driver towards the sales target. $TTC says that it's prime sales target looking forward to FY17 will be 5%. The company nearly achieved that target in FY15, but will fall short of it in FY16, largely due to market conditions.

$TTC {{ '2016-08-18T16:17:45+0000' | timeago}} • Webcast

Raymond James analyst Samuel Darkatsh questions as to where inventories would be by FY16-end. $TTC says that its team is disappointed in its working capital initiative thus far and hopes to see more progress relating to inventories. The company expects YoverY inventory to be down at year-end, which will be incorporated into the cash flow forecast.

$TTC {{ '2016-08-18T16:00:49+0000' | timeago}} • Webcast

$TTC said that during 3Q16, it repurchased approx. 316,000 shares of its stock under its board authorization. There are 4.3MM shares outstanding under the authorization. YTD, the company spent $69MM on total stock repurchases and expects to spend approx. $100MM on stock repurchases during FY16.

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