Toro Co Q1 Profit Decreases, misses estimates

(RTTNews) - Toro Co (TTC) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $64.9 million, or $0.62 per share. This compares with $106.9 million, or $1.01 per share, in last year's first quarter.

Excluding items, Toro Co reported adjusted earnings of $66.5 million or $0.64 per share for the period.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.0% to $1.00 billion from $1.15 billion last year.

Toro Co earnings at a glance (GAAP) :

-Earnings (Q1): $64.9 Mln. vs. $106.9 Mln. last year. -EPS (Q1): $0.62 vs. $1.01 last year. -Revenue (Q1): $1.00 Bln vs. $1.15 Bln last year.

-Guidance: Full year EPS guidance: $4.25 to $4.35