BLOOMINGTON, Minn. (AP) — BLOOMINGTON, Minn. (AP) — Toro Co. (TTC) on Thursday reported fiscal first-quarter earnings of $52.8 million.
The Bloomington, Minnesota-based company said it had net income of 52 cents per share. Earnings, adjusted for non-recurring costs, came to 65 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The landscaping, maintenance and irrigation equipment maker posted revenue of $995 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1 billion.
Toro expects full-year earnings in the range of $4.25 to $4.40 per share.
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