The Toro Company (NYSE:TTC) posted mixed results for the fiscal third quarter on Thursday.
The company posted net sales of $1.13 billion, a 2% decline from a year earlier and short of the $1.16 billion analyst estimate.
Net earnings fell to $53.5 million from $119.3 million, with diluted earnings per share of 54 cents, including a noncash impairment charge of 62 cents per share, or $81 million pretax. Adjusted net earnings were $122.5 million compared with $123.7 million a year ago, while adjusted diluted earnings per share rose 5% to $1.24, beating the $1.22 estimate.
“We delivered third-quarter adjusted earnings that exceeded our expectations, with our Professional …