Toro Co Q4 Profit Decreases, but beats estimates

(RTTNews) - Toro Co (TTC) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $70.3 million, or $0.67 per share. This compares with $117.6 million, or $1.12 per share, in last year's fourth quarter.

Excluding items, Toro Co reported adjusted earnings of $74.1 million or $0.71 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.1% to $983.2 million from $1172.0 million last year.

Toro Co earnings at a glance (GAAP) :

-Earnings (Q4): $70.3 Mln. vs. $117.6 Mln. last year. -EPS (Q4): $0.67 vs. $1.12 last year. -Analyst Estimates: $0.56 -Revenue (Q4): $983.2 Mln vs. $1172.0 Mln last year.