Why Is Outdoor Equipment Products Provider Toro Stock Plunging Today?
Why Is Outdoor Equipment Products Provider Toro Stock Plunging Today?
Adjusted gross margin expanded to 35.4% from 34.4% a year ago, led by productivity improvements and net price realization.The Toro Company (NYSE:TTC) shares are trading lower after the company reported third-quarter results.
託羅配件公司（紐交所：TTC）股價下跌，因該公司公佈第三季度業績報告。
Sales increased 6.9% Y/Y to $1.156 billion, missing the consensus of $1.259 billion. Professional $880.9 million (-1.7% Y/Y), and Residential $267.5 million (+52.6% Y/Y).
銷售額同比增長6.9%，達到11.56億美元，低於預期的12.59億美元。專業部門銷售額爲8,809萬美元（同比下降1.7%），住宅部門銷售額爲2,675萬美元（同比增長52.6%）。
Adjusted EPS of $1.18 (+24.2% Y/Y) missed the consensus of $1.22.
經調整的每股收益爲1.18美元，同比增長24.2%，低於預期的1.22美元。
Adjusted gross margin expanded to 35.4% from 34.4% a year ago, led by productivity improvements and net price realization.
由於生產率提高和淨價格實現，經調整的毛利率從去年的34.4%提高到35.4%。
Adjusted operating margin for the third quarter was 13.7%, up from 12.2% in the same period last year. As of August 2, cash and equivalents stood at $221.1 million.
第三季度經調整的營業利潤率爲13.7%，高於去年同期的12.2%。截至8月2日，現金及等價物餘額爲2,211萬美元。
Richard M. Olson, chairman and chief executive officer, said, "In both segments, we saw increased caution from homeowners and lawn care dealers as summer progressed due to macro factors, which resulted in lower-than-expected shipments of residential and professional lawn care products to our dealer channel."
主席兼首席執行官Richard M. Olson表示：「在這兩個領域，由於宏觀因素的影響，我們看到業主和草坪護理經銷商在夏季進展過程中變得更加謹慎，這導致我們向經銷商渠道出貨的住宅和專業草坪護理產品不及預期。」
FY24 Outlook: Toro now expects company net sales growth of about 1% (prior view: low single-digit growth) and adjusted EPS of $4.15 – $4.20 (prior: $4.25 – $4.35) vs. consensus of $4.30.
FY24展望：託羅現預計公司淨銷售額增長約1%（之前的預期：低個位數增長），調整每股收益爲4.15 - 4.20美元（之前的預期：4.25 - 4.35美元），市場預期爲4.30美元。
Olson added, "We are already realizing benefits from our multi-year productivity initiative named AMP, and we expect these benefits to accelerate during the next two years. We remain on track to deliver at least $100 million in annualized run rate savings by fiscal 2027."
Olson補充說：「我們已經從我們的多年生產力倡議AMP中獲得了好處，並預計在未來兩年內這些好處將加速。我們將按計劃實現至少1億美元的年化運行節約，目標是到2027財年。」
"We are extremely well positioned in attractive end markets, and look ahead with optimism to fiscal 2025 and beyond," added Olson.
「我們在吸引人的終端市場處於極佳的位置，並對2025財年及以後充滿樂觀」，奧爾森補充道。
Investors can gain exposure to the stock via Invesco Water Resources ETF (NASDAQ:PHO) and Neuberger Berman ETF Trust Neuberger Berman Small-Mid Cap ETF (NYSE:NBSM).
投資者可以通過景順水資源etf (納斯達克:PHO) 和紐伯格伯曼etf trust紐伯格伯曼中小盤etf (紐交所:NBSM) 來獲得該股的 exposure。
Price Action: TTC shares are down 12.6% at $79.51 premarket at the last check Thursday.
股價走勢：託羅配件股票在週四最後檢查時盤前下跌了12.6%，報79.51美元。
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譯文內容由第三人軟體翻譯。