Toro Company backs FY24 adjusted EPS view $4.25-$4.35, consensus $4.29

Backs FY24 revenue view up low-single-digits, consensus $4.68B. The company said, “For fiscal 2024, the company continues to expect low-single-digit total company net sales growth and *adjusted diluted EPS in the range of $4.25 to $4.35. This guidance is based on current visibility, and assumes continued strong demand and more stable supply for businesses with elevated order backlog, a continuation of macro factors that have driven increased consumer and channel caution, and manufacturing inefficiencies as production and inventory levels continue to be adjusted to market conditions. This guidance also considers the below-average snowfall activity year-to-date, assumes weather patterns aligned with historical averages for the remainder of the year, and includes the expected incremental impact of an expanded residential segment mass channel.”