(Adds Outlook, stock movement)
The Toro Company (TTC) has revised down its annual earnings guidance, below analysts' forecast. The stock was trading down in pre-market.
Excluding items, for the full-year, the company now expects earnings of $4.15 to $4.20 per share versus the prior outlook of $4.25 to $4.35. Analysts, on average, project the firm to earn $4.3 per share for the year.
Toro now anticipates annual sales growth of about 1 percent, compared with earlier outlook of low single-digit sales growth.
TTC was trading down by 10.53 percent at $81.42 in the pre-market trade on the New York Stock Exchange.
Q3 Results:
Below are the earnings highlights for Toro Co (TTC):
Earnings: $119.3 million in Q3 vs. -$15 million in the same period last year.
EPS: $1.14 in Q3 vs. -$0.14 in the same period last year.
Excluding items, Toro Co reported adjusted earnings of $123.7 million or $1.18 per share for the period.
Analysts projected $1.22 per share
Revenue: $1.156 billion in Q3 vs. $1.081 billion in the same period last year.
-Guidance:
Full year EPS guidance: $4.15 to $4.20
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