Toro sees 58% growth in fiscal Q1 profits, is buying Chinese firm

Toro reported that its fiscal first-quarter earnings rose 58% to $31.4 million from $19.9 million a year ago, boosted by demand for irrigation equipment and snow-removal gear. "The optimistic outlook of customers across our businesses is encouraging, as we prepare for our primary selling season," said Toro CEO and Chairman Michael Hoffman. Meanwhile, the company announced it has started the process of acquiring a "micro-irrigation" firm in China to enhance its market presence in the country.

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Twin Cities Business (Minneapolis) · Bloomberg Businessweek

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