BLOOMINGTON, Minn. (AP) — Toro Co. (TTC) on Thursday reported fiscal fourth-quarter profit of $33.8 million.
The Bloomington, Minnesota-based company said it had profit of 31 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The landscaping, maintenance and irrigation equipment maker posted revenue of $488.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $489.2 million.
For the year, the company reported profit of $267.7 million, or $2.41 per share. Revenue was reported as $2.51 billion.
Toro expects full-year earnings to be $2.57 to $2.63 per share.
Toro shares have increased 14 percent since the beginning of the year. The stock has risen 17 percent in the last 12 months.