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The Toro Company For 2024 Now Expects Total Company Net Sales Growth Of About 1%; Sees Adj. EPS Of $4.15-$4.20 (Prior Adj. EPS $4.25-$4.35) Vs. $4.30 Consensus

Benzinga ·  Sep 5 20:39

For fiscal 2024, the company now expects total company net sales growth of about 1%, and *adjusted diluted EPS in the range of $4.15 to $4.20. This guidance is based on current visibility and assumes:

  • a continuation of macro factors that have driven increased consumer and channel caution;
  • continued strong demand and stable supply for our underground construction, and golf and grounds businesses; and
  • weather patterns aligned with historical averages for the remainder of the year.

This guidance also considers:

  • remaining adjustments needed to normalize field inventory levels of lawn care products and snow and ice management solutions;
  • manufacturing inefficiencies as production and inventory levels continue to be adjusted to market conditions; and
  • the net impact across all residential mass channel partners related to our new strategic partnership with Lowe's.
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