The Toro Company (TTC) on Thursday trimmed its full-year profit and net sales projections due to “anticipated tariff impacts.”
The Bloomington, Minn.-based maker of lawnmowers and snowblowers now sees fiscal 2025 adjusted earnings per share (EPS) of $4.15 to $4.30, down from its prior outlook of $4.25 to $4.40. It also expects net sales “in the range of flat to down 3%” compared with the previous forecast of growth ranging from “0% to 1%.”
Toro attributed the cuts in part to “anticipated tariff impacts,” including “a reduction in volume from macro factors that have driven increased homeowner and channel caution.”
Toro reported fiscal second-quarter adjusted EPS of $1.42 on net sales of $1.32 billion. Analysts polled by Visible Alpha expected $1.38 and $1.35 billion, respectively.
Shares of Toro dropped close to 6% in early trading Thursday, leaving the stock about 5% higher for the year so far.
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