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Investor Relations
Nicholas Rhoads
Managing Director, Investor Relations
(952) 887-8865, nicholas.rhoads@toro.com

Media Relations
Branden Happel
Senior Manager, Public Relations
(952) 887-8930, branden.happel@toro.com

For Immediate Release


The Toro Company Reports Strong Fourth-Quarter and Full-Year Fiscal 2020 Results
Professional Segment Acquisitions and Residential Segment Performance Drive Results

Q4 net sales of $841 million, up 14.5% year over year
FY20 net sales of $3.38 billion, up 7.7% versus last year; residential segment net sales up 24.1%
Q4 reported diluted EPS of $0.66; *Adjusted diluted EPS of $0.64, up 33.3% year over year
FY20 reported diluted EPS of $3.03; *Adjusted diluted EPS of $3.02, up 0.7% versus last year
FY21 guidance of *adjusted EPS in the range of $3.35 to $3.45 per diluted share

BLOOMINGTON, Minn.—(BUSINESS WIRE) — December 16, 2020—
The Toro Company (NYSE: TTC) today reported results for its fiscal fourth-quarter and full-year periods ended October 31, 2020.
“Our strong fourth-quarter results were driven by continued sales growth in our residential segment and a rebound in our professional segment,” said Richard M. Olson, chairman and chief executive officer. “Residential sales were robust across all channels with strong demand for our new product lineup, accentuated by refreshed branding, an extended selling season, and stay-at-home trends. Improved demand for our professional products reflected greater business confidence from our customers and increased home investments. The integration of our Venture Products acquisition added another strong brand with multi-season products, contributing incremental sales in the quarter.

“Our momentum and continued investments position us well for success in the new fiscal year,” continued Olson. “We have a strong portfolio of businesses and deep customer relationships, a dedicated team and channel partners, and innovative products and emerging technologies aligned with customer needs. We will remain sharply focused on business execution as we continue to face uncertainty due to the ongoing pandemic.

“We will build upon our Sustainability Endures platform, our commitment to making a positive impact worldwide. Throughout last year, we put this commitment into action as we transformed how we do work and reimagined our business model from product innovation and production through customer service and support, all while keeping each other safe. In addition, we remain committed to driving future results through our enterprise strategic priorities of accelerating profitable growth, driving productivity and operational excellence, and empowering people,” concluded Olson.



The following information was filed by Toro Co (TTC) on Wednesday, December 16, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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