Toro reported net earnings of $93.8 million in its fiscal 2015 second quarter compared to $87.1 million a year ago, on a net sales increase of 10.9 percent to $826.2 million.
“Good spring weather conditions helped generate robust retail sales during the quarter,” said Michael Hoffman, Toro chairman and CEO. “On the residential side of the business, we drove increased sales due to our innovative product line-up, including our new platform of consumer zero-turn riding mowers and new all-wheel drive walk power mower. We also benefited from expanded retail placement for these products. In our professional segment, landscape contractors readying themselves for the spring season by investing in our zero-turn riding and walk-behind mowers and newly introduced Toro and Exmark branded spreader-sprayer turf management products. Additionally our recently acquired Boss line of snow and ice management products contributed to our second quarter results.”
For the first six months of the fiscal year, the net sales increase was 9.2 percent on $1.3 billion in net sales.
Hoffman added the company is excited by early demand for the all-new Dingo TX 1000 compact utility loader for the landscape contractor and rental markets that will be released in the third quarter. Toro introduced the product to the rental market at the Rental Show in New Orleans in February.
Toro is based in Bloomington, Minn.