The Toro Company (TTC) reported first-quarter net earnings of $31.4 million, or $0.53 per share, compared to $19.9 million, or $0.33 per share, last year. Net sales increased to $444.7 million from $423.8 million last year.
On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.43 for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $461.60 million for the quarter.
The company continues to expect revenue growth of about 4 percent to 5 percent for fiscal 2013. The company now expects fiscal 2013 net earnings to be about $2.40 to $2.45 per share. For the second-quarter, the company expects to report net earnings per share of about $1.20. Analysts expect the company to report second-quarter profit per share of $1.19, and fiscal 2013 profit per share of $2.44.
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