TORO CO

Professional Segment

•Professional segment net sales for the first quarter were $768.8 million, up 1.6% from $756.5 million in the same period last year. The increase was primarily driven by higher shipments of golf and grounds products and zero turn mowers, along with net price realization, partially offset by lower shipments of compact utility loaders.

•Professional segment earnings for the first quarter were $127.2 million, up from $112.8 million in the same period last year, and when expressed as a percentage of net sales, 16.5%, up from 14.9% in the prior-year period. The increase in profitability was primarily due to net sales leverage, product mix, and productivity improvements, partially offset by higher material, manufacturing, and freight costs.