Filing Flows › Toro (TTC) › Q3 FY26 › vs Q2 FY26
Toro (TTC) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Toro's revenue fell $199M (-14%) from $1.4B in Q2 FY26 to $1.2B in Q3 FY26. The biggest changes: Equipment −$200M (-15%); Irrigation +$1.4M (+1%). Gross margin 34.1% against 33.9% (+0.2 pts).
Toro, Q3 FY26: revenue $1.2B (+8% year over year), operating margin 9.4%, net earnings $77.0M, operating cash flow $183M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 34.1% | 33.9% | +0.2 pts |
| Operating margin | 9.4% | 13.7% | -4.3 pts |
| Net margin | 6.3% | 10.2% | -3.9 pts |
| Free cash flow margin | 13.0% | 17.6% | -4.6 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Equipment | $1.1B | $1.3B | −$200M | -15% |
| Irrigation | $122M | $121M | $1.4M | +1% |
| Revenue | $1.2B | $1.4B | −$199M | -14% |
| Gross profit | $418M | $483M | −$64.6M | -13% |
| Cost of revenue | $808M | $942M | −$134M | -14% |
| Operating profit | $115M | $195M | −$79.8M | -41% |
| Operating expenses | $303M | $288M | $15.2M | +5% |
| Pre-tax earnings | $107M | $183M | −$76.5M | -42% |
| Other expense, net | $8.3M | $11.6M | −$3.3M | -28% |
| Net earnings | $77.0M | $145M | −$68.4M | -47% |
| Income tax | $29.9M | $38.0M | −$8.1M | -21% |
| Depreciation & amortization | $29.3M | $37.8M | −$8.5M | -22% |
| Share-based compensation | $5.7M | $6.6M | −$900K | -14% |
| Working capital & other | $70.7M | $77.6M | −$6.9M | -9% |
| Operating cash flow | $183M | $267M | −$84.7M | -32% |
| Free cash flow (OCF − capex) | $160M | $251M | −$91.3M | -36% |
| Capital expenditures | $23.1M | $16.5M | $6.6M | +40% |
Questions
How much did Toro's revenue grow quarter over quarter in Q3 FY26?
Toro's revenue fell $199M (-14%) from $1.4B in Q2 FY26 to $1.2B in Q3 FY26.
What drove Toro's revenue change in Q3 FY26?
Equipment −$200M (-15%); Irrigation +$1.4M (+1%).