Shares of The Toro Company (TTC), a landscaping equipment maker, are rising more than 8% Wednesday morning after reporting fourth-quarter results above analysts’ view.
Earnings for the fourth quarter declined to $70.3 million or $0.67 per share from $117.6 million or $1.12 per share in the previous year.
Excluding one-time items, earnings were $74.1 million or $0.71 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.56 per share.
Sales for the quarter decreased to $983.2 million from $1.172 billion a year ago, but beat the consensus estimate of $973.65 million.
TTC is at $97.33 currently. It has traded in the range of $78.35 – $117.66 in the last 1 year.
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