Declared Dividend • Mar 20
First quarter dividend of US$0.39 announced Shareholders will receive a dividend of US$0.39. Ex-date: 30th March 2026 Payment date: 13th April 2026 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 18
The Toro Company Declares Regular Quarterly Cash Dividend, Payable on April 13, 2026 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.39 per share of TTC’s common stock. This dividend is payable on April 13, 2026, to shareholders of record at the close of business on March 30, 2026. Recent Insider Transactions Derivative • Mar 11
Independent Director notifies of intention to sell stock James O’Rourke intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of March. If the sale is conducted around the recent share price of US$99.40, it would amount to US$492k. Since September 2025, James' direct individual holding has increased from 17.72k shares to 18.96k. Company insiders have collectively sold US$656k more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Mar 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to US$99.47. The fair value is estimated to be US$82.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.9%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. New Risk • Mar 06
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 62% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 06
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$0.69 (up from US$0.52 in 1Q 2025). Revenue: US$1.04b (up 4.2% from 1Q 2025). Net income: US$67.9m (up 29% from 1Q 2025). Profit margin: 6.6% (up from 5.3% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 8.5%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 5% per year. Announcement • Mar 05
The Toro Company Raises Earnings Guidance for the Fiscal Year 2026 The Toro Company raised earnings guidance for the fiscal year 2026. For the year, the company's management now expects total company net sales growth in the range of 3% to 6.5%, up from a range of 2% to 5%. Price Target Changed • Mar 04
Price target increased by 9.1% to US$102 Up from US$93.25, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of US$101. Stock is up 29% over the past year. The company is forecast to post earnings per share of US$4.36 for next year compared to US$3.18 last year. Announcement • Mar 03
The Toro Company to Report Q1, 2026 Results on Mar 05, 2026 The Toro Company announced that they will report Q1, 2026 results at 7:30 AM, Central Standard Time on Mar 05, 2026 Announcement • Jan 21
The Toro Company, Annual General Meeting, Mar 17, 2026 The Toro Company, Annual General Meeting, Mar 17, 2026. Reported Earnings • Dec 19
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$3.18 (down from US$4.04 in FY 2024). Revenue: US$4.51b (down 1.6% from FY 2024). Net income: US$316.1m (down 25% from FY 2024). Profit margin: 7.0% (down from 9.1% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Announcement • Dec 17
The Toro Company Provides Earnings Guidance for the Fiscal Year 2026 The Toro Company provided earnings guidance for the fiscal year 2026. For fiscal 2026, the company's management expects total company net sales growth in the range of 2% to 5%. Buy Or Sell Opportunity • Dec 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.6% to US$73.48. The fair value is estimated to be US$91.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.4%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Declared Dividend • Dec 12
Third quarter dividend of US$0.39 announced Shareholders will receive a dividend of US$0.39. Ex-date: 22nd December 2025 Payment date: 12th January 2026 Dividend yield will be 2.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 10
the Toro Company Declares Regular Quarterly Cash Dividend, Payable on January 12, 2026 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.39 per share of TTC’s common stock, an increase over the previous $0.38 per share. This dividend is payable on January 12, 2026, to shareholders of record at the close of business on December 22, 2025. Announcement • Dec 09
The Toro Company (NYSE:TTC) completed the acquisition of Tornado Infrastructure Equipment Ltd. (TSXV:TGH) from James Chui, Hong Li and others. The Toro Company (NYSE:TTC) agreed to acquire Tornado Infrastructure Equipment Ltd. (TSXV:TGH) from James Chui, Hong Li and others for approximately CAD 270 million on October 6, 2025. A cash consideration valued at CAD 1.92 per share will be paid by The Toro Company. As part of consideration, CAD 280 million is paid towards common equity of Tornado Infrastructure Equipment Ltd. In case of termination of transaction, The Toro Company will pay a termination fee of CAD 11 million. The transaction is expected to be financed with debt from existing credit facilities and additional financial arrangements.
The transaction is subject to approval of merger agreement by target board, approval of offer by target shareholders and subject to antitrust regulations. The Board of Directors of Tornado Infrastructure Equipment Ltd. formed a special committee for the transaction. The deal has been unanimously approved by the board. The transaction is expected to close in the fourth quarter of 2025. The Toro Company expects the transaction to be marginally accretive to earnings in the first year, excluding purchase price accounting and transaction-related adjustments. As of October 6, 2025, shareholders holding, directly or indirectly, or exercising control or direction over, an aggregate of 75,505,817 Shares and 5,837,500 Company Options, representing approximately 54.3% of the issued and outstanding Shares and Company Options), pursuant to which, among other things, they have agreed to vote their Shares in favour of the Arrangement. As of November 10, 2025, the Court of King’s Bench of Alberta has issued an interim order in connection with the arrangement. The board of Tornado Infrastructure unanimously recommends that the Securityholders vote FOR the arrangement resolution.
Origin Merchant Partners acted as fairness opinion provider for Tornado Infrastructure Equipment Ltd. Stifel Nicolaus Canada Inc. acted as fairness opinion provider for Tornado Infrastructure Equipment Ltd and will receive a fee of CAD 250,000 upon delivery of the Opinion. Stifel Nicolaus Canada Inc. acted as financial advisor for Tornado Infrastructure Equipment Ltd. Origin Merchant Partners acted as financial advisor for Tornado Infrastructure Equipment Ltd. Michael Burkett and Steven D. Bennett of Stikeman Elliott LLP acted as legal advisor for Tornado Infrastructure Equipment Ltd. Jake Irwin of McCarthy Tétrault LLP acted as legal advisor for The Toro Company. Laurel Hill Advisory Group acted as information agent to Tornado Infrastructure. Laurel Hill will receive a fee of CAD 45,000 for its services. TSX Trust Company acted as transfer agent and depository to Tornado Infrastructure.
The Toro Company (NYSE:TTC) completed the acquisition of Tornado Infrastructure Equipment Ltd. (TSXV:TGH) from James Chui, Hong Li and others on December 8, 2025. The Shares are expected to be delisted from the TSX Venture Exchange at the close of business on December 10, 2025. Announcement • Nov 25
The Toro Company to Report Q4, 2025 Results on Dec 17, 2025 The Toro Company announced that they will report Q4, 2025 results at 7:30 AM, Central Standard Time on Dec 17, 2025 Buy Or Sell Opportunity • Nov 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.8% to US$71.60. The fair value is estimated to be US$90.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.4%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Buy Or Sell Opportunity • Oct 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.1% to US$72.70. The fair value is estimated to be US$92.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.4%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • Oct 07
The Toro Company (NYSE:TTC) agreed to acquire Tornado Infrastructure Equipment Ltd. (TSXV:TGH) for approximately CAD 280 million. The Toro Company (NYSE:TTC) agreed to acquire Tornado Infrastructure Equipment Ltd. (TSXV:TGH) for approximately CAD 280 million on October 6, 2025. A cash consideration valued at CAD 1.92 per share will be paid by The Toro Company. As part of consideration, CAD 280 million is paid towards common equity of Tornado Infrastructure Equipment Ltd. In case of termination of transaction, The Toro Company will pay a termination fee of CAD 11 million. The transaction is expected to be financed with debt from existing credit facilities and additional financial arrangements.
The transaction is subject to approval of merger agreement by target board, approval of offer by target shareholders and subject to antitrust regulations. The Board of Directors of Tornado Infrastructure Equipment Ltd. formed a special committee for the transaction. The deal has been unanimously approved by the board. The transaction is currently anticipated to close during The Toro Company’s fiscal 2026 first quarter. The Toro Company expects the transaction to be marginally accretive to earnings in the first year, excluding purchase price accounting and transaction-related adjustments.
Origin Merchant Partners acted as fairness opinion provider for Tornado Infrastructure Equipment Ltd. Stifel Nicolaus Canada Inc. acted as fairness opinion provider for Tornado Infrastructure Equipment Ltd. Stifel Nicolaus Canada Inc. acted as financial advisor for Tornado Infrastructure Equipment Ltd. Origin Merchant Partners acted as financial advisor for Tornado Infrastructure Equipment Ltd. Stikeman Elliott LLP acted as legal advisor for Tornado Infrastructure Equipment Ltd. McCarthy Tétrault LLP acted as legal advisor for The Toro Company. Announcement • Oct 01
The Toro Company announced that it expects to receive $200 million in funding The Toro Company announced that it has entered into a note purchase agreement of 5.27% senior notes due September 30, 2032 for gross proceeds of $200 million on September 30, 2025. The company will pay an interest of 5.27% on the notes. The notes will be senior unsecured obligations of the company and interest on the notes will be payable semiannually on the 30th day of March and September in each year, beginning on March 30, 2026. The transaction is expected to close on or prior to October 15, 2025. The company will issue notes pursuant to Section 4(a)(2) of the Securities Act of 1933. Declared Dividend • Sep 26
Third quarter dividend of US$0.38 announced Shareholders will receive a dividend of US$0.38. Ex-date: 7th October 2025 Payment date: 21st October 2025 Dividend yield will be 2.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 24
The Toro Company Declares Regular Quarterly Cash Dividend, Payable on October 21, 2025 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.38 per share of TTC’s common stock. This dividend is payable on October 21, 2025, to shareholders of record at the close of business on October 7, 2025. Reported Earnings • Sep 05
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: US$0.54 (down from US$1.15 in 3Q 2024). Revenue: US$1.13b (down 2.2% from 3Q 2024). Net income: US$53.5m (down 55% from 3Q 2024). Profit margin: 4.7% (down from 10% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Announcement • Sep 04
The Toro Company Updates Earnings Guidance for the Fiscal Year 2025 The Toro Company updated earnings guidance for the fiscal year 2025. for the year, the company's net sales to be at the lower end of prior guidance ranges: net sales flat to down 3%. This guidance is based on current visibility, inclusive of anticipated tariff impacts, and reflects: a reduction in volume from macro factors that have driven increased homeowner and channel caution, continued strong demand and stable supply for its underground construction and golf and grounds businesses and weather patterns aligned with historical averages for the remainder of the year. Price Target Changed • Aug 26
Price target increased by 8.5% to US$89.00 Up from US$82.00, the current price target is an average from 5 analysts. New target price is 9.6% above last closing price of US$81.21. Stock is down 10% over the past year. The company is forecast to post earnings per share of US$4.09 for next year compared to US$4.04 last year. Announcement • Aug 20
The Toro Company to Report Q3, 2025 Results on Sep 04, 2025 The Toro Company announced that they will report Q3, 2025 results at 7:30 AM, Central Standard Time on Sep 04, 2025 Announcement • Aug 13
the Toro Company Appoints Edric C. Funk as President and Chief Operating Officer, Effective September 1, 2025 The Toro Company announced that Edric C. Funk has been appointed president and chief operating officer, effective September 1, 2025. Funk, a 29-year veteran of the company, has served as group vice president of Golf, Grounds and Irrigation since 2022. In this new role, he will assume responsibility for all of the company’s global businesses and integrated supply chain operations, continuing to report to Richard M. Olson, chairman and chief executive officer. Since joining The Toro Company in 1996 as a design engineer, Funk transitioned to marketing in 2003 and held roles of increasing responsibility in the company’s Residential, Landscape Contractor, International and Commercial businesses. In 2014, he was promoted to director of global product management for the Commercial and International businesses, and in 2017 was named managing director of the company’s Center for Technology, Research & Innovation (CTRI). Funk went on to become the general manager of the Sitework Systems business in 2020, before being promoted to group vice present of Golf, Grounds and Irrigation, where he has played an influential role in driving performance across multiple professional product categories. Funk was instrumental in the acquisitions of both Left Hand Robotics and TURFLYNX, which accelerated the development of robotic mowing platforms recently introduced to the market. He also elevated the organization’s technology community through the creation of its Technology Forum and has championed integrated smart systems delivering more holistic solutions for customers. In 2020, he was recognized by Golf Inc. as one of the Most Innovative People in Golf. Funk received a Bachelor of Science in engineering from the University of Minnesota and an MBA from The University of Minnesota – Carlson School of Management. He also has a professional certificate in innovation and technology from the Massachusetts Institute of Technology. He serves on the boards of the National Golf Foundation, The Toro Company Foundation, and Red Iron Acceptance. Buy Or Sell Opportunity • Aug 07
Now 21% undervalued Over the last 90 days, the stock has risen 1.5% to US$73.44. The fair value is estimated to be US$92.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period. Recent Insider Transactions Derivative • Jun 27
Vice President of Technology notifies of intention to sell stock Kurt Svendsen intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of June. If the sale is conducted around the recent share price of US$70.99, it would amount to US$426k. Since December 2024, Kurt's direct individual holding has increased from 22.48k shares to 22.88k. Company insiders have collectively bought US$1.5m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Jun 10
Upcoming dividend of US$0.38 per share Eligible shareholders must have bought the stock before 17 June 2025. Payment date: 11 July 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (1.6%). Reported Earnings • Jun 06
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: US$1.37 (down from US$1.39 in 2Q 2024). Revenue: US$1.32b (down 2.3% from 2Q 2024). Net income: US$136.8m (down 5.5% from 2Q 2024). Profit margin: 10% (in line with 2Q 2024). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 1.9%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Price Target Changed • Jun 06
Price target decreased by 9.0% to US$83.00 Down from US$91.20, the current price target is an average from 4 analysts. New target price is 21% above last closing price of US$68.51. Stock is down 29% over the past year. The company is forecast to post earnings per share of US$4.15 for next year compared to US$4.04 last year. Announcement • Jun 05
The Toro Company Updates Earnings Guidance for the Year 2025 The Toro Company updated earnings guidance for the year 2025. For fiscal 2025, company now expects total company net sales to be in the range of flat to down 3%. Buy Or Sell Opportunity • Jun 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.0% to US$74.63. The fair value is estimated to be US$94.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Declared Dividend • May 23
First quarter dividend of US$0.38 announced Shareholders will receive a dividend of US$0.38. Ex-date: 17th June 2025 Payment date: 11th July 2025 Dividend yield will be 2.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 21
the Toro Company Declares Regular Quarterly Cash Dividend, Payable on July 11, 2025 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.38 per share of TTC’s common stock. This dividend is payable on July 11, 2025, to shareholders of record at the close of business on June 17, 2025. Buy Or Sell Opportunity • May 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.9% to US$75.41. The fair value is estimated to be US$94.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings are also forecast to grow by 6.3% per annum over the same time period. Announcement • May 14
The Toro Company to Report Q2, 2025 Results on Jun 05, 2025 The Toro Company announced that they will report Q2, 2025 results at 7:30 AM, Central Standard Time on Jun 05, 2025 Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Independent Director Dianne Craig was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Mar 21
First quarter dividend of US$0.38 announced Shareholders will receive a dividend of US$0.38. Ex-date: 31st March 2025 Payment date: 14th April 2025 Dividend yield will be 2.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 19
The Toro Company Declares Regular Quarterly Cash Dividend, Payable on April 14, 2025 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.38 per share of TTC’s common stock. This dividend is payable on April 14, 2025, to shareholders of record at the close of business on March 31, 2025. Reported Earnings • Mar 06
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: US$0.52 (down from US$0.62 in 1Q 2024). Revenue: US$995.0m (flat on 1Q 2024). Net income: US$52.8m (down 19% from 1Q 2024). Profit margin: 5.3% (down from 6.5% in 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Announcement • Mar 06
The Toro Company Maintains Earnings Guidance for the Year 2025 The Toro Company maintains earnings guidance for the year 2025. For the period, the company expects total company net sales growth in the range of 0% to 1%. Buy Or Sell Opportunity • Feb 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to US$79.99. The fair value is estimated to be US$99.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 3.5%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 5.9% per annum over the same time period. Announcement • Feb 13
The Toro Company to Report Q1, 2025 Results on Mar 06, 2025 The Toro Company announced that they will report Q1, 2025 results at 8:30 AM, US Eastern Standard Time on Mar 06, 2025 Buy Or Sell Opportunity • Jan 29
Now 20% undervalued Over the last 90 days, the stock has risen 4.7% to US$84.23. The fair value is estimated to be US$105, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 3.5%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 5.9% per annum over the same time period. Announcement • Jan 22
Toro's Redesigned TITAN MAX Zero-Turn Mower Dominates Grass Toro's Redesigned TITAN MAX zero-turn mower is built to crush the toughest residential lawn care challenges. The new TITAN MAX sits on massive 23-inch Reaper Tires and 13-inch treaded front caster tires for ultimate traction. Toro supercharged the transmission and upgraded to commercial-grade pulleys and idler arm, making it the ultimate tool for ruling turf. The 7-gallon fuel tank helps operators spend more time on the job and less time refueling. This kind of all-day performance demands all-day comfort, which is why the new TITAN MAX has upgraded seat compression springs and arm for premium support and comfort, as well as fully integrated LED lighting for improved visibility in dim conditions. Following in the footsteps of its legendary predecessors, the new TITAN MAX has rugged and reliable components, including the ultra-strong, tubular steel frame chassis. Equipped with the unstoppable strength of the IronForged®? cutting system, the new TITAN MAX boasts an ultra-strong bullnose leading reinforced edge made from grade-50 hardened steel featuring updated deck struts for improved durability. Engineered for durability and top-tier performance, the cutting system boasts Kevlar-reinforced belts for superior strength and resilience, paired with robust, heavy-duty cast aluminum spindles designed to withstand the toughest conditions. Together, these components deliver unmatched longevity and unyielding strength. The TITAN MAX is armed with features to safeguard both the deck and property. Confront unexpected obstacles head-on by pressing down on the deck lift pedal to clear them effortlessly. When cutting close to landscape structures, the rugged rubber discharge chute lets achieve a precision cut without leaving a mark. Recent Insider Transactions Derivative • Dec 22
Chairman exercised options to buy US$620k worth of stock. On the 18th of December, Richard Olson exercised 13.99k options to receive shares at no cost, then sold around 6.38k of them at US$81.40 each and kept the remainder. Since December 2023, Richard's direct individual holding has decreased from 35.00k shares to 31.14k. Company insiders have collectively sold US$715k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Dec 19
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$4.04 (up from US$3.16 in FY 2023). Revenue: US$4.58b (flat on FY 2023). Net income: US$418.9m (up 27% from FY 2023). Profit margin: 9.1% (up from 7.2% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Declared Dividend • Dec 13
Third quarter dividend increased to US$0.38 Dividend of US$0.38 is 5.6% higher than last year. Ex-date: 23rd December 2024 Payment date: 13th January 2025 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 11
the Toro Company Declares Regular Quarterly Cash Dividend, Payable on January 13, 2025 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.38 per share of TTC’s common stock, an increase over the previous quarter’s cash dividend of $0.36 per share of TTC’s common stock. This marks the 16th consecutive year that the company has increased its dividend. The dividend is payable on January 13, 2025, to shareholders of record at the close of business on December 23, 2024. Announcement • Nov 20
The Toro Company to Report Fiscal Year 2024 Results on Dec 18, 2024 The Toro Company announced that they will report fiscal year 2024 results at 7:30 AM, Central Standard Time on Dec 18, 2024 Declared Dividend • Sep 20
Third quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 30th September 2024 Payment date: 11th October 2024 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 18
The Toro Company Declares Regular Quarterly Cash Dividend, Payable on October 11, 2024 The Toro Company announced that its Board of Directors has declared a regular quarterly cash dividend of $0.36 per share of company's common stock. This dividend is payable on October 11, 2024, to shareholders of record at the close of business on September 30, 2024. Reported Earnings • Sep 06
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: US$1.15 (up from US$0.14 loss in 3Q 2023). Revenue: US$1.16b (up 6.9% from 3Q 2023). Net income: US$119.3m (up US$134.3m from 3Q 2023). Profit margin: 10% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) also missed analyst estimates by 6.8%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 9% per year. Buy Or Sell Opportunity • Sep 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to US$81.82. The fair value is estimated to be US$108, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 6.9%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • Aug 07
The Toro Company to Report Q3, 2024 Results on Sep 05, 2024 The Toro Company announced that they will report Q3, 2024 results at 7:30 AM, Central Daylight on Sep 05, 2024 Buy Or Sell Opportunity • Jul 05
Now 21% undervalued Over the last 90 days, the stock has risen 1.6% to US$88.17. The fair value is estimated to be US$112, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 6.9%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Recent Insider Transactions Derivative • Jun 24
Chairman notifies of intention to sell stock Richard Olson intends to sell 20k shares in the next 90 days after lodging an Intent To Sell Form on the 21st of June. If the sale is conducted around the recent share price of US$95.19, it would amount to US$1.9m. For the year to October 2017, Richard's total compensation was 13% salary and 87% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2023, Richard's direct individual holding has increased from 35.00k shares to 35.72k. Company insiders have collectively sold US$1.6m more than they bought, via options and on-market transactions in the last 12 months. Upcoming Dividend • Jun 11
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 18 June 2024. Payment date: 11 July 2024. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (1.7%). Announcement • Jun 08
The Toro Company Reaffirms Sales Guidance for the Fiscal Year 2024 The Toro Company reaffirmed sales guidance for the fiscal year 2024. For fiscal 2024, the company continues to expect low single-digit total company net sales growth. Reported Earnings • Jun 07
Second quarter 2024 earnings released: EPS: US$1.39 (vs US$1.60 in 2Q 2023) Second quarter 2024 results: EPS: US$1.39 (down from US$1.60 in 2Q 2023). Revenue: US$1.35b (flat on 2Q 2023). Net income: US$144.8m (down 14% from 2Q 2023). Profit margin: 11% (down from 13% in 2Q 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$91.11, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Machinery industry in the US. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$92.16 per share. 
