Toro Delivers Robust Earnings and Revenue Growth in Fiscal 2015

The Toro Co. reported net earnings of $201.6 million on a net sales increase of 10 percent to $2.391 billion for its fiscal year ended Oct. 31.

Michael Roth

Dec. 4, 2015

2 min read

Toro39s directional operating system contributed to the company39s growth in fiscal 2015 — Toro's directional operating system contributed to the company's growth in fiscal 2015.

The Toro Co. reported net earnings of $201.6 million on a net sales increase of 10 percent to $2.391 billion for its fiscal year ended Oct. 31. In fiscal 2014, Toro posted net earnings of $173.9 million on net sales of $2.173 billion.

For its fiscal fourth quarter, Toro reported net earnings of $23.6 million on a net sales jump of 16.1 percent to $480.8 million, compared to net earnings of $10.9 million a year ago on net sales of $414.1 million.

“Early this last year, as The Toro Co. entered its second century, we were optimistic about the months ahead due to the addition of the Boss snow and ice management business, the positive momentum we were experiencing with early snow preseason sales, and a broad line-up of innovative new products for fiscal 2015,” said Michael Hoffman, Toro chairman and CEO. “As the year progressed, that optimism proved accurate and we were able to sustain strong retail momentum across our businesses. The successful integration of Boss played a significant role in achieving our revenue growth of 10 percent for the year, we saw the benefit of favorable weather conditions, and the launch of several new products was well received by our customers.”

The company expects revenue growth of about 4 percent in fiscal 2016.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.