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Company Research15 Apr 2024
The Industrial Machinery, Supplies, and Components Industry
Explore the industrial machinery industry's growth, driven by technology, sustainability, and digital transformation, impacting global economic development.
The Toro Company (TTC) investor relations material
The Toro Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Sep, 2025
Executive summary
Adjusted diluted EPS for Q3 2025 rose 5% year-over-year to $1.24, exceeding expectations, driven by strong Professional segment performance and cost savings from the AMP program, despite ongoing headwinds in the Residential segment and macroeconomic challenges.
Net sales for Q3 2025 were $1,131.3 million, down 2.2% year-over-year, with half the decline due to prior year divestitures; nine-month sales were $3,444.2 million, down 1.8%.
Reported diluted EPS was $0.54, including a non-cash impairment charge of $0.62 per share ($81 million pretax) related to the Spartan trade name, reflecting lower homeowner demand.
Free cash flow for the quarter was $292 million, with a 90% conversion rate, and liquidity remains strong.
AMP productivity initiative delivered $75 million in annualized cost savings, targeting at least $100 million by 2027.
Financial highlights
Adjusted diluted EPS was $1.24, up 5% year-over-year; reported EPS was $0.54, down 53% due to impairment.
Net sales: $1,131.3 million, down 2.2% year-over-year.
Professional segment net sales grew 5.7% year-over-year to $930.8 million, with earnings margin up 250 bps to 21.3%.
Residential segment net sales declined 27.9% year-over-year to $192.8 million, with margin down to 1.9%.
Free cash flow for the nine months was $291.9 million, with a 90% conversion rate.
Outlook and guidance
Fiscal 2025 net sales expected at the low end of flat to down 3% guidance range; adjusted diluted EPS forecasted at about $4.15.
Professional segment revenue projected to be up slightly; Residential segment expected down mid-teens percent.
Adjusted gross margin and operating margin expected to be flat to slightly higher year-over-year.
Free cash flow conversion guidance raised to 100%–110%.
AMP program targeting at least $100 million in annualized savings by 2027.
Spartan recovery timeline and demand outlook
AMP program's key cost reduction levers
Q3 gross margin drivers and offsets
Detail Spartan trade name impairment
What drives Pro segment margin expansion?
Will AMP program target be raised?
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Next The Toro Company earnings date
Q4 202517 Dec, 2025
Next The Toro Company earnings date
Q4 202517 Dec, 2025
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Frequently asked questions
The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. It offers turf maintenance equipment, including walk power mowers, riding mowers, utility vehicles and zero radius turning mowers; snow removal products comprising single stage and two stage snowthrowers; grounds care equipment consisting of aerators, spreaders, sprayers, overseeders, pedestrian edgers and walk behind blowers; and residential irrigation products comprising golf rotors and sprays. The Toro Company was founded in 1914 and is headquartered in Bloomington, Minnesota.
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