Toro earnings rise 19.4% as professional sales grow
Red Iron financing volume increased 4.3% YoY
Toro reported higher earnings and sales through the first nine months of fiscal 2026, led by growth in its professional equipment business.
The Bloomington, Minn.-based manufacturer’s net earnings increased 19.4% year over year to $290.3 million during the nine months ended July 31, while net sales rose 7% to $3.7 billion, according to its 10-Q filing with the SEC today.
Professional segment sales increased 8.5% YoY to $2.9 billion, driven by pricing, the acquisition of Tornado Infrastructure Equipment and higher volumes of underground construction equipment, snow and ice management products and stand-on mowers, according to the filing.
Toro’s dealer financing joint venture, Red Iron Acceptance, financed $2.1 billion of dealer and distributor receivables, up 4.3% YoY, while outstanding receivables declined 3.8% to $790 million, according to the filing. Additionally, Red Iron funds its floorplan programs through a $1.35 billion secured revolving credit facility with Huntington Distribution Finance, and Toro does not guarantee its outstanding debt.
MARKET REACTION: Shares of The Toro Co. [NYSE: TTC] were down 6.84% or $6.78 from market open to $92.37 as of market close today. The company has a market capitalization of $8.8 billion.
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