Skip to main content

Snow-thrower sales lift Toro sales slightly

  • Author:
  • Updated:
    Original:

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

Jason Hackett

New face joining KARE 11's 'Sunrise' morning show

Jason Hackett will be joining Alicia Lewis and Guy Brown on KARE 11's morning show.

Screen Shot 2022-11-30 at 4.04.09 PM

Armed robbery suspect sought in two south metro investigations

The incidents took place at credit unions in Savage and Apple Valley.

image

Former Twin Cities plastic surgeon charged with sex crimes

Christopher Kovanda is accused of inappropriately touching woman under the guise of providing medical care.

Screen Shot 2022-11-15 at 4.23.26 PM

Minnesota man accused of murder in Chicago is arrested in Alabama

A 26-year-old man from a small town on the Iowa border is accused of murdering a Greyhound bus employee.

DougKeddieShakopeeSchools

Support for Shakopee Public Schools employee diagnosed with cancer

The media specialist has been transitioned to hospice care recently.

snow

Big November snowstorms uncommon in MN, but snowfall is increasing

This week's 8.4 inches at MSP Airport was one of the biggest November storms in the Twin Cities since 1991.

MNASecondStrike

Minnesota nurses take vote on whether to hold second strike

The results will be determined Wednesday night.

unsplash medical marijuana

OCD, irritable bowel syndrome added to MN's medical marijuana list

They are the two latest qualifying medical conditions for Minnesota's marijuana program.

Screen Shot 2022-11-30 at 9.27.45 AM

Fundraiser created for family-owned Cô Tu' Oriental Cuisine after shooting

Support from the community will go towards medical expenses and overhead costs for the restaurant.

Erica Shameka Roberts

Police: Minnesota murder suspect arrested in Texas

Erica Roberts has been on the run since March.

JackknifedSemisI35

Jackknifed semis close I-35 northbound near Faribault

There are icy conditions across Minnesota

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.