Why Outdoor Equipment Products Provider Toro Shares Are Surging Today
Why Outdoor Equipment Products Provider Toro Shares Are Surging Today
The Toro Company (NYSE:TTC) shares are trading higher after the company reported second-quarter FY24 results.
紐交所託羅公(TTC) 首兩季度FY24的業績報告後其股票交易價格上漲。
Sales increased 1% Y/Y to $1.35 billion, beating the consensus of $1.343 billion.
銷售額同比增長1%，爲13.5億美元，超出了13.43億美元的共識預測。
Sales by segments: Professional $1.006 billion (-5.9% Y/Y), and Residential $335.6 million (+26.3 Y/Y).
銷售分爲以下幾個類別：專業領域10.06億美元（同比下降5.9%），住宅領域3.356億美元（同比增長26.3%）。
Adjusted gross margin contracted to 33.6% from 35.8% a year ago due to a change in product mix and higher material and manufacturing costs.
由於產品結構和製造成本上升，調整後的毛利率從一年前的35.8%下降到33.6%。
Adjusted operating margin declined to 14.2% from 16.3% the prior year. Adjusted EPS of $1.40 (-11% Y/Y) surpassed the consensus of $1.29.
調整後的營業利潤率從去年的16.3%下降至14.2%。每股收益爲1.40美元（同比下降11%），超出了1.29美元的共識預測。
As of May 3, cash and equivalents stood at $188.8 million.
截至5月3日，現金及其等價物爲1.888億美元。
Richard M. Olson, chairman and chief executive officer, said, "We realized exceptional growth in our residential segment due to our strong mass channel, successful new product introductions, and better weather conditions compared to last year."
Richard M.Olson主席兼首席執行官表示：“由於我們的強大大衆渠道、成功的新產品推出和與去年相比天氣條件更好，我們住宅領域實現了異常的增長。”
"Importantly, we made significant progress in reducing dealer field inventories of lawn care equipment in both the residential and professional segment, a result of lower shipments to that channel, coupled with spring retail momentum."
“重要的是，我們在減少經銷商庫存方面取得了顯着進展，這既是該渠道發貨量下降，又是春季零售勢頭所致。”
FY24 Outlook: Toro continues to expect low-single-digit total company net sales growth and adjusted EPS of $4.25-$4.35 (vs. consensus: $4.26).
FY24前景：Toro繼續預計總公司淨銷售額增長低個位數，調整後的每股收益爲4.25-4.35美元（與共識：4.26美元相比）
Olson added, "We expect continued growth in shipments to our residential segment mass channel, and anticipate this growth will help offset our expectations for lower preseason shipments of snow and ice management products given the lack of snow this past winter."
Olson補充說：“我們預計目標客戶渠道的發貨將繼續增長，並預期這種增長將有助於抵消我們對於由於本次冬季缺乏降雪所導致的季前發貨量下降的預期。”
Investors can gain exposure to the stock via MarketDesk Focused U.S. Dividend ETF (NASDAQ:FDIV) and VanEck Agribusiness ETF (NYSE:MOO).
投資者可以通過MarketDesk Focused U.S. Dividend ETF (NASDAQ:FDIV)和農業企業指數etf-vaneck (NYSE:MOO)獲取該公司股票的曝光度。
Price Action: TTC shares are up 12.77% at $89.81 at the last check Thursday.
截至上週四最後一次查看，該公司股票交易價格爲89.81美元，上漲了12.77%。
譯文內容由第三人軟體翻譯。