Toro Co’s fourth-quarter profit rises, in line with estimates

WASHINGTON (dpa-AFX) – Toro Co (TTC) reported fourth-quarter results that were up from the same period last year, in line with Street estimates.

The company’s net income was $89.9 million, or $0.87 per share. That compares to $70.3 million, or $0.67 per share, in the fourth quarter of last year.

Excluding items, Toro Co reported adjusted earnings of $97.7 million, or $0.95 per share for the period.

Analysts on average expected a profit of $0.95 per share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items.

The company’s revenue for the quarter increased 9.4% to $1,076 million, compared to $983.2 million last year.

Toro Co earnings at a glance (GAAP):

-Revenues (Q4): $89.9 million. against $70.3 million. last year. -EPS (Q4): $0.87 versus $0.67 last year. -Revenue (Q4): $1,076 million versus $983.2 million last year.