BLOOMINGTON, Minn. (AP) — BLOOMINGTON, Minn. (AP) — Toro Co. (TTC) on Wednesday reported fiscal fourth-quarter net income of $70.3 million.
On a per-share basis, the Bloomington, Minnesota-based company said it had net income of 67 cents. Earnings, adjusted for one-time gains and costs, were 71 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The landscaping, maintenance and irrigation equipment maker posted revenue of $983.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $976.1 million.
For the year, the company reported profit of $329.7 million, or $3.13 per share. Revenue was reported as $4.55 billion.
Toro expects full-year earnings in the range of $4.25 to $4.35 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TTC at https://www.zacks.com/ap/TTC