Toro Reports Strong Q3 Earnings, Raises Full-Year Outlook
The Toro Company (NYSE:TTC) reported third-quarter fiscal 2026 net sales of $1.23 billion, an increase of 8.4% year-over-year driven by strong demand across both professional and residential segments. Adjusted earnings per share reached $1.33 with adjusted operating margin improving to 13.9%. The company raised its full-year guidance for sales growth to between 6.3% and 6.6%, as well as an updated EPS range of $4.60–$4.65. Toro's AMP productivity program is expected to deliver over $125 million in annualized savings, while free cash flow reached $425 million for the quarter. The company has repurchased shares worth $358 million year-to-date and highlighted sustained demand across underground construction, golf technology, and equipment products like Ventrac's Fence Post Mower. Chairman and CEO Rick Olson noted strong momentum entering Q4 with particular growth in landscape contractor sales and HammerHead Bluelight pipe-relining solutions. CFO Angie Drake indicated that residential segment sales are expected to remain flat for the full year due to a tough prior-year comparison, but margin improvements were still achieved.
Tickers: $TTC
Topics: Adjusted EPS Earnings Guidance Update Margin Expansion Sales Growth