Filing Flows › Toro (TTC) › Q4 FY24
Toro (TTC) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Dec 18, 2024
Toro (TTC) reported revenue of $1.1B for the fourth quarter fiscal 2024 (Q4 FY24), +9% from a year earlier and -7% from the quarter before. Operating margin was 10.1%, net earnings $89.9M (8.4% of revenue).
Toro, Q4 FY24: revenue $1.1B (+9% year over year), operating margin 10.1%, net earnings $89.9M, operating cash flow $240M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -7% | +9% |
| Gross profit | $349M | -13% | +6% |
| Operating profit | $109M | -26% | +15% |
| Net earnings | $89.9M | -25% | +28% |
| Operating cash flow | $240M | +23% | +58% |
| Free cash flow | $200M | +17% | +85% |
What changed
Revenue was $1.1B in Q4 FY24, up 9% year over year and down 7% from the previous quarter. Equipment was the largest line at 92% of revenue.
Gross margin was 32.4%, down 1.1 points from a year earlier. Operating profit was $0.11B, a 10.1% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, above the 10% margin then. Operating expenses grew 2% against revenue growth of 9%. Net earnings were $0.09B, up 28% year over year. The effective tax rate was 17.7%.
Operating cash flow was $0.24B (up 58% year over year), 267% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items added $0.11B. Capital expenditures of $0.04B left free cash flow of $0.20B.
Questions
What was Toro's revenue in the fourth quarter fiscal 2024?
Toro (TTC) reported revenue of $1.1B for the fourth quarter fiscal 2024 (Q4 FY24), +9% from a year earlier and -7% from the quarter before.
Was Toro profitable in the fourth quarter fiscal 2024?
Operating profit was $109M (10.1% of revenue) and net earnings $89.9M.
Source: Toro 10-K on SEC EDGAR.