1343 ET - Lawn-mower maker Toro has significantly reduced its exposure to China over the past few years, with the country currently accounting for a low-single-digit percent of its total cost of goods sold, CEO Rick Olson says on a call with analysts. Some of the company's residential and irrigation products are produced in Mexico, and it doesn't produce in Canada, he adds. Determining a gross impact from tariffs is a moving target right now, Olson says, though he adds that the company is "prepared to quickly make adjustments to our operations and pricing as appropriate." Toro backs its fiscal 2025 outlook, which includes the first round of Chinese tariffs and calls for sales to be flat to up 1% from last year. Toro falls 6.6% after logging lower profit in its F1Q. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 06, 2025 13:43 ET (18:43 GMT)
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