Toro up 8% on Strong Earnings and Guidance

The Toro Company TTC is trading higher on the session following its Q2 earnings announcement. The company reported an EPS of $2.26 vs $2.13 estimates and revenues of $691.5 million vs $676.40 million estimates. Toro also announced a 2-for-1 stock split and raised its full year EPS guidance. Michael J. Hoffman, Toro's chairman and chief executive officer stated, “While a portion of our results was the benefit of an accelerated spring, we are hopeful the early start will extend the selling season and drive incremental sales. Our product line-up is strong, our core businesses are well positioned, and our investments in light construction, hardscapes and rental products will contribute to future growth. We are raising our outlook for the year, even against a backdrop of a challenging sales environment in Europe, and an anticipated soft snowthrower pre-season ahead of us.” The Toro Company is currently trading at $73.78, a gain of $5.67 or 8.32%.