Toro Sales Up 14.5 Per Cent

The Toro Company had net sales of $841 million for the fourth quarter ended October 31, 2020, up 14.5 per cent from $734.4 million in the fourth quarter of fiscal 2019. Net earnings were $72.2 million, up 88.7 per cent from $38.3 million in the year-ago period. Professional segment net sales for the fourth quarter were $644 million, up 9.5 per cent compared with $588.2 million in the same period last year. This increase was primarily due to growth in shipments of landscape contractor zero-turn riding mowers and snow and ice management equipment, annual price adjustments, and lower floor plan costs, as well as incremental sales from the Venture Products acquisition. Professional segment earnings for the fourth quarter were $104.2 million, up 70.2 per cent compared with $61.2 million in the same period last year.