Why Toro Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
Toro Co (NYSE:TTC) reported Q2 FY23 sales growth of 7% Y/Y to $1.34 billion, missing the consensus of $1.44 billion. Adjusted EPS of $1.58 beat the consensus of $1.52. The company narrowed its FY23 net sales growth outlook to 7-8% and adjusted EPS to $4.70-$4.80 vs. the consensus of $4.84.
June 08, 2023 | 2:34 pm
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NEGATIVE IMPACT
Toro Co's Q2 FY23 sales growth missed expectations, but adjusted EPS beat estimates. The company narrowed its FY23 outlook, causing shares to drop 5.92%.
Toro Co's Q2 sales growth missed the consensus, which may cause investors to be concerned about the company's performance. The adjusted EPS beat estimates, but the narrowed FY23 outlook could indicate that the company is facing challenges. This combination of factors is likely to have a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100