The Toro Company (NYSE:TTC) shares are trading lower after the company reported first-quarter fiscal 2025 results.
The quarterly sales decreased 1% year-over-year to $995 million, missing the consensus of $1.005 billion.
Residential segment sales fell 8.0% Y/Y to $221.0 million, due to lower shipments of snow and portable power products, the Pope Products divestiture, and higher promotions. Segment earnings declined to $17.2 million from $23.5 million, impacted by higher material, manufacturing, and freight costs, along with increased promotions and a less favorable product mix.
Professional segment sales increased 1.6% Y/Y to $768.8 million, driven by higher shipments of golf and grounds products, zero-turn mowers, and net price realization. Segment earnings rose to $127.2 million from $112.8 million (16.5% of sales vs. 14.9% last year), fueled …
