U.S. News

Toro raises 2Q outlook on strong spring sales


Toro Co. raised its second-quarter and full-year outlook on Monday, citing a strong spring selling season.

The maker of outdoor maintenance equipment said it expects second-quarter net income of $1.30 to $1.35 per share. Previously, it expected $1.15 per share.

Analysts surveyed by Thomson Reuters expect $1.19 per share, on average.

For the full year, the company expects earnings of $2.40 per share on an increase in revenue of 7 percent from 2009, which implies revenue $1.63 billion. Previously, it guided for $2.15 per share on flat revenue.

Analysts expect $2.28 per share on $1.54 billion in revenue for the year.

Shares of Toro fell 30 cents to $52.40 in extended trading.