Toro Lifts 2019 Profit View - Quick Facts

(RTTNews) - Toro Co. (TTC) said it narrowed its fiscal year 2019 adjusted net earnings per share guidance to about $2.92 - $3.00 from the prior estimation of $2.90 - $3.00. Analysts polled by Thomson Reuters expect the company to report earnings of $2.91 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

The company now expects annual revenue to exceed $3.1 billion, compared to the prior outlook of about $3.2 billion. Analysts expect revenues of $3.19 billion.

"... we are mindful of challenging weather conditions and the trade policy environment the entire market is experiencing. In addition, as we proactively manage inventory levels, we expect to experience some unfavorable manufacturing variance in the fourth quarter. For these reasons, we are modifying our full-year revenue guidance and narrowing the bottom end of our full-year adjusted net EPS range to reflect the solid performance we have achieved year-to-date.." said Richard Olson, Toro's chairman and chief executive officer.