Toro Company Q2 Profit Misses Estimates; Sales Down 3.4% - Quick Facts

(RTTNews) - The Toro Company (TTC) reported second quarter adjusted earnings per share of $0.92, down 21.4% compared to $1.17 per share, a year ago. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.94, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales were $929.4 million, down 3.4% from $962.0 million, previous year. Analysts expected revenue of $1.03 billion for the quarter.

As of May 1, 2020, the company had liquidity of approximately $800 million, including cash and cash equivalents of $200 million and unutilized availability under its revolving credit facility of approximately $600 million.

Shares of Toro Company were down 8% in pre-market trade on Thursday.