Toro (TTC) shares plummeted 5.05% in pre-market trading on Wednesday, following the company's disappointing fourth-quarter earnings report.
The lawn care equipment manufacturer reported adjusted earnings per share of $0.95 for the quarter, missing analysts' estimates of $0.96 per share. While net income reached $89.9 million, sales of $1.076 billion fell short of the consensus estimate of $1.09 billion.
The company provided a cautious outlook for the upcoming fiscal year, projecting sales growth of 0-1% and adjusted EPS in the range of $4.25-$4.40, potentially weighing on investor sentiment.
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