BLOOMINGTON, Minn. – In the midst of a year that has seen its stock price climb surprisingly to all-time highs only to slide back nearly 20 percent in recent months, Toro announced that its third-quarter performance will beat stock analysts’ expectations. In addition, Toro executives said this strong performance should continue through the year, leading to a strong year-end performance.
“While economic conditions and weather patterns have not been as favorable as we had hoped, we expect to be able to exceed analyst expectations for the third quarter and the year because of higher than expected sales of new products as well as continued success of our profit improvement initiatives,” said Ken Melrose, chairman and chief executive officer of The Toro Co.
Toro will be announcing its third quarter earnings on August 27 and will hold a conference call at 10 a.m. central time. A live Web cast and replay of the conference call will be available at www.streetevents.com. Toro's stock peaked this year at $62.75, and it’s currently trading around $52 a share.
The author is Managing Editor of Lawn & Landscape magazine and can be reached at nwisniewski@lawnandlandscape.com.
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