受材料成本和促销影响,Toro第一季度销售不及预期

财报速递
06 Mar
由于报告的2025财年第一季度业绩低于预期,Toro公司(纽约证券交易所代码:TTC)股价下跌。 季度销售额同比下降1%至9.95亿美元,未能达到一致预期的10.05亿美元。 住宅部门销售额同比下降8.0%,至2.21亿美元,原因是降雪和便携式电源产品的出货量减少、Pope产品的剥离以及促销力度加大。受材料、制造和运费成本增加以及促销力度加大和产品组合不利影响,部门收益从2350万美元降至1720万美元。 专业部门销售额同比增长1.6%至7.688亿美元,得益于高尔夫和园地产品、零转向割草机的出货量增加以及价格实现。部门收益从1.128亿美元增加到1.272亿美元(销售的16.5% vs 去年的14.9%),得益于净销售杠杆、产品组合和生产率提升。 季度调整后毛利率从去年的34.4%降至34.1%,受材料和制造成本增加以及AMP生产力计划费用上升的影响。 季度调整后经营利润率为9.4%,高于去年同期的9.2%。截至2025年1月31日,现金及等价物为1.713亿美元。 调整后每股收益为0.65美元,同比增长2%,超过预期的0.63美元。 董事长兼首席执行官Richard M. Olson表示:“在这一季度,我们还通过股票回购向股东返还了1亿美元,这反映了我们的现金流改善以及我们有能力在2025财年及以后交付积极结果的信心。” FY25前景:Toro预计全年净销售增长维持在0%-1%之间,调整后每股收益为4.25美元至4.40美元,相比估计的4.32美元。 Olson补充道:“我们预计,随着进入即将到来的草坪季节和2025年下半年的雪前季节,我们的草坪护理和冰雪管理业务的经销商库存将比去年定位得更好。” “我们认识到影响宏观环境的高度不确定性,包括消费者信心下降和贸易政策的快速变化。” “我们到目前为止已经实现了6400万美元的年化成本节约,并预计到2027财年实现1亿美元,其中一部分我们打算谨慎再投资以推动进一步的创新和增长。” 投资者可以通过Invesco水资源ETF(纳斯达克:PHO)和Neuberger Berman小型中型股ETF(纽约证券交易所代码:NBSM)获得该股票的敞口。 价格行动:TTC股价在周四早盘下跌3.08%,最新报75.61美元。 阅读下一个: Rio Tinto在澳大利亚的18亿美元铁矿石扩展:详情 图片通过Shutterstock

以上内容来自Benzinga Earnings专栏,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.

Read Next:

  • Rio Tinto’s $1.8 Billion Iron Ore Expansion Ramps Up In Australia: Details

Image via Shutterstock

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