Toro Company Q1 Profit Declines - Quick Facts

(RTTNews) - The Toro Company (TTC) reported first-quarter net earnings of $25.9 million, or $0.44 per share, compared to $31.4 million, or $0.53 per share, prior year.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.37 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $446 million from $444.7 million, a year ago. Analysts expected revenue of $432.30 million for the quarter.

The company now expects revenue growth for fiscal 2014 to be about 5 to 6 percent, and net earnings per share to be about $2.90 to $2.95. Analysts expect the company to report fiscal 2014 earnings per share of $2.91.

For the second quarter, the company expects net earnings per share to be about $1.45 to $1.50. Analysts expect the company to report second-quarter profit per share of $1.54.