由於報告的2025財年第一季度業績低於預期，Toro公司（紐約證券交易所代碼：TTC）股價下跌。 季度銷售額同比下降1%至9.95億美元，未能達到一致預期的10.05億美元。 住宅部門銷售額同比下降8.0%，至2.21億美元，原因是降雪和便攜式電源產品的出貨量減少、Pope產品的剝離以及促銷力度加大。受材料、製造和運費成本增加以及促銷力度加大和產品組合不利影響，部門收益從2350萬美元降至1720萬美元。 專業部門銷售額同比增長1.6%至7.688億美元，得益於高爾夫和園地產品、零轉向割草機的出貨量增加以及價格實現。部門收益從1.128億美元增加到1.272億美元(銷售的16.5% vs 去年的14.9%)，得益於淨銷售槓桿、產品組合和生產率提升。 季度調整後毛利率從去年的34.4%降至34.1%，受材料和製造成本增加以及AMP生產力計劃費用上升的影響。 季度調整後經營利潤率爲9.4%，高於去年同期的9.2%。截至2025年1月31日，現金及等價物爲1.713億美元。 調整後每股收益爲0.65美元，同比增長2%，超過預期的0.63美元。 董事長兼首席執行官Richard M. Olson表示：“在這一季度，我們還通過股票回購向股東返還了1億美元，這反映了我們的現金流改善以及我們有能力在2025財年及以後交付積極結果的信心。” FY25前景：Toro預計全年淨銷售增長維持在0%-1%之間，調整後每股收益爲4.25美元至4.40美元，相比估計的4.32美元。 Olson補充道：“我們預計，隨着進入即將到來的草坪季節和2025年下半年的雪前季節，我們的草坪護理和冰雪管理業務的經銷商庫存將比去年定位得更好。” “我們認識到影響宏觀環境的高度不確定性，包括消費者信心下降和貿易政策的快速變化。” “我們到目前爲止已經實現了6400萬美元的年化成本節約，並預計到2027財年實現1億美元，其中一部分我們打算謹慎再投資以推動進一步的創新和增長。” 投資者可以通過Invesco水資源ETF（納斯達克：PHO）和Neuberger Berman小型中型股ETF（紐約證券交易所代碼：NBSM）獲得該股票的敞口。 價格行動：TTC股價在週四早盤下跌3.08%，最新報75.61美元。 閱讀下一個： Rio Tinto在澳大利亞的18億美元鐵礦石擴展：詳情 圖片通過Shutterstock

以上內容來自Benzinga Earnings專欄，原文如下：

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 by net sales leverage, product mix, and productivity gains.

Adjusted gross margin for the quarter decreased to 34.1% from 34.4% last year, impacted by higher material and manufacturing costs, along with increased AMP productivity initiative charges.

Adjusted operating margin for the quarter was 9.4%, up from 9.2% in the same period last year. As of January 31, 2025, cash and equivalents stood at $171.3 million.

Adjusted EPS of $0.65 (+2% Y/Y), beating the consensus of $0.63.

Richard M. Olson, chairman and chief executive officer said, ”During the quarter, we also returned $100 million to shareholders through share repurchases, reflecting our improved cash flow and confidence in our ability to deliver positive results in fiscal 2025 and beyond.”

FY25 Outlook: Toro expects reaffirmed net sales growth of 0% -1 % and adjusted EPS of $4.25 – $4.40 versus the $4.32 estimate.

Olson added, “We expect dealer field inventories for our lawn care and snow and ice management businesses to be positioned better compared to last year as we head into the upcoming turf season and second half 2025 snow pre-season.”

”We recognize the heightened level of uncertainty affecting the macro environment, including a decline in consumer confidence and rapidly evolving trade policy.”

”We’ve delivered $64 million in run-rate cost savings to-date, and are on track to deliver $100 million by fiscal 2027, a portion of which we intend to prudently reinvest to drive further innovation and growth,”

Investors can gain exposure to the stock via Invesco Water Resources ETF (NASDAQ:PHO) and Neuberger Berman ETF Trust Neuberger Berman Small-Mid Cap ETF (NYSE:NBSM).

Price Action: TTC shares are down 3.08% at $75.61 in early trading Thursday at the last check.

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