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Toro Company posts growth

2/20/2018

Bloomington, Minnesota-based The Toro Company reported net earnings of $93.8 million, up from $87.1 million in the same quarter last year.


Net sales increased 10.9% to $826.2 million.


“Good spring weather conditions helped generate robust retail sales during the quarter,” said Michael J. Hoffman, Toro’s chairman and CEO. “Additionally, I’m proud of the dedication of and execution by our strong team that enabled us to deliver our record results.”


In the residential area, the company pointed to increased sales from products, including a new platform of consumer zero-turn riding mowers and new all-wheel drive walk power mower.


“As we continue through the key selling season, we are encouraged by the strong retail sales results that we are seeing across our businesses. We believe that we are well-positioned with our portfolio of innovative products to drive additional sales and increase our market share,” Hoffman said.


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