Toro Co Q2 Profit Increases, beats estimates

(RTTNews) - Toro Co (TTC) announced a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $167.5 million, or $1.59 per share. This compares with $131.1 million, or $1.24 per share, in last year's second quarter.

Excluding items, Toro Co reported adjusted earnings of $166.4 million or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $1.34 billion from $1.25 billion last year.

Toro Co earnings at a glance (GAAP) :

-Earnings (Q2): $167.5 Mln. vs. $131.1 Mln. last year. -EPS (Q2): $1.59 vs. $1.24 last year. -Analyst Estimate: $1.52 -Revenue (Q2): $1.34 Bln vs. $1.25 Bln last year.

-Guidance: Full year EPS guidance: $4.70 to $4.80