Why Outdoor Equipment Products Provider Toro Shares Are Surging Today
Why Outdoor Equipment Products Provider Toro Shares Are Surging Today
The Toro Company (NYSE:TTC) shares are trading higher after the company reported second-quarter FY24 results.
纽交所托罗公(TTC) 首两季度FY24的业绩报告后其股票交易价格上涨。
Sales increased 1% Y/Y to $1.35 billion, beating the consensus of $1.343 billion.
销售额同比增长1%，为13.5亿美元，超出了13.43亿美元的共识预测。
Sales by segments: Professional $1.006 billion (-5.9% Y/Y), and Residential $335.6 million (+26.3 Y/Y).
销售分为以下几个类别：专业领域10.06亿美元（同比下降5.9%），住宅领域3.356亿美元（同比增长26.3%）。
Adjusted gross margin contracted to 33.6% from 35.8% a year ago due to a change in product mix and higher material and manufacturing costs.
由于产品结构和制造成本上升，调整后的毛利率从一年前的35.8%下降到33.6%。
Adjusted operating margin declined to 14.2% from 16.3% the prior year. Adjusted EPS of $1.40 (-11% Y/Y) surpassed the consensus of $1.29.
调整后的营业利润率从去年的16.3%下降至14.2%。每股收益为1.40美元（同比下降11%），超出了1.29美元的共识预测。
As of May 3, cash and equivalents stood at $188.8 million.
截至5月3日，现金及其等价物为1.888亿美元。
Richard M. Olson, chairman and chief executive officer, said, "We realized exceptional growth in our residential segment due to our strong mass channel, successful new product introductions, and better weather conditions compared to last year."
Richard M.Olson主席兼首席执行官表示：“由于我们的强大大众渠道、成功的新产品推出和与去年相比天气条件更好，我们住宅领域实现了异常的增长。”
"Importantly, we made significant progress in reducing dealer field inventories of lawn care equipment in both the residential and professional segment, a result of lower shipments to that channel, coupled with spring retail momentum."
“重要的是，我们在减少经销商库存方面取得了显着进展，这既是该渠道发货量下降，又是春季零售势头所致。”
FY24 Outlook: Toro continues to expect low-single-digit total company net sales growth and adjusted EPS of $4.25-$4.35 (vs. consensus: $4.26).
FY24前景：Toro继续预计总公司净销售额增长低个位数，调整后的每股收益为4.25-4.35美元（与共识：4.26美元相比）
Olson added, "We expect continued growth in shipments to our residential segment mass channel, and anticipate this growth will help offset our expectations for lower preseason shipments of snow and ice management products given the lack of snow this past winter."
Olson补充说：“我们预计目标客户渠道的发货将继续增长，并预期这种增长将有助于抵消我们对于由于本次冬季缺乏降雪所导致的季前发货量下降的预期。”
Investors can gain exposure to the stock via MarketDesk Focused U.S. Dividend ETF (NASDAQ:FDIV) and VanEck Agribusiness ETF (NYSE:MOO).
投资者可以通过MarketDesk Focused U.S. Dividend ETF (NASDAQ:FDIV)和农业企业指数etf-vaneck (NYSE:MOO)获取该公司股票的曝光度。
Price Action: TTC shares are up 12.77% at $89.81 at the last check Thursday.
截至上周四最后一次查看，该公司股票交易价格为89.81美元，上涨了12.77%。