Skip to main content
Updated:
Original:

Snow-thrower sales lift Toro sales slightly

Author:

Toro got a slight sales bump in its first quarter, thanks to a relatively snowy winter, the Pioneer Press reports.

The Minnesota-based manufacturer of snow blowers and yard machines reported its sales were up 1 percent to $446 million in the company quarter that ended Jan. 31.

“Significant snowfall across key North American markets this winter season spurred retail demand for our snow products, helping to drive sales for the quarter and providing a solid start to our 2014 fiscal year,” CEO Michael Hoffman said Thursday.

But there was some bad news for the company – overall net earnings declined to $25.9 million in the most recent quarter from $31.4 million a year ago.

Hoffman hopefully noted that the company's primary selling season is still yet to come and that the company is still "well-positioned" to drive earnings.

Toro projects second-quarter earnings of $1.45 to $1.50 per share, less than the $1.54 analysts had been expecting, but for the year, Toro expects earnings of of $2.90 to $2.95 a share, a 5 to 6 percent increase, about what analysts expected, the Star Tribune reports.

Last year, the Bloomington-based company was hurt by unusual weather patterns, particularly in the second quarter when lawn machine sales dipped due to a late-arriving spring.

Next Up

Karl-Anthony Towns

KAT sets a franchise record, leaves early in loss to Wizards

Towns fell on his back in the final minutes of a loss in Washington.

Flickr - police lights squad siren - Edward Kimmel

Man shot by police in Forest Lake dies from injuries

It was one of two police shootings in the Twin Cities on the same day, both of which proved fatal.

Dylan Bundy

Report: Twins agree to deal with Dylan Bundy

The Twins signed the right-hander with a lockout imminent.

Flickr - face masks covid pole - Ivan Radic

'Everyone should really be masking up' in public, Malcolm says

The health commissioner said residents have gotten "a little bit lax" with some protective measures.

Byron Buxton

Byron Buxton believes he's the best player in baseball

"Nobody [does] the things that I do. I know that."

unsplash medical marijuana

Edibles coming to Minnesota's medical marijuana program

MDH also announced it will not add anxiety as qualifying condition.

plow, snowplow, snow

Plowable snow possible this weekend in Minnesota

Up to half a foot of snow could fall within the heaviest band.

Best Buy - jjbers, Flickr

Police reveal new details about 'coordinated' Best Buy thefts

A large group stole thousands of dollars in merchandise from three Twin Cities Best Buy stores.

Seven Points exterior - 2

New tenant revealed for former Libertine spot in Uptown

The space will combine playful art offerings with a restaurant.

white Christmas

What are Minnesota's chances of a white Christmas this year?

The Twin Cities averages a white Christmas about 3 out of every 4 years.

ilhan omar press conference voicemail screengrab 11.30.21

'You will not live much longer b***': Rep. Omar shares threatening voicemail

Omar's office received the call hours after Rep. Boebert posted her video about the MN congresswoman.

Screen Shot 2021-12-01 at 11.24.09 AM

ESPN's 'Booger' makes fun of Wild fans' record cup snake

He's the same guy who thought the "Minneapolis Miracle" was bad for the Vikings.

Related

Toro sees record sales

Is everyone out buying a snowblower right now? The Business Journal says Toro smashed the Street's expectations with record sales. The company's profits are up 55 percent for the fourth quarter.