Toro Co (TTC) Q2 2016 10-Q Quarterly Earnings

Short answer

Toro Co (TTC) filed its Q2 2016 10-Q quarterly report on Jun 2, 2016 for the quarter ended Apr 29, 2016.

AI summary of MD&A and risk factor updates

Q2 revenue $836.4M, up 1.2% YoY from $826.2M
Net margin 12.6% vs 11.3%; operating margin 18.5% vs 16.8%
Professional strongest: sales $595.2M, up 7.7%; Residential weakest, sales $238.2M, down 11.1%
Operating cash flow up $41.9M, or 44.0%, in six-month period
Headwinds: unfavorable weather, foreign exchange, higher inventory; management expects slightly lower commodity costs for fiscal 2016 remainder

No material changes from fiscal 2015 Form 10-K risk factors
Regulatory and compliance risk: Conflict-minerals rules may require significant costs and create supply-chain reputational exposure
Operational and market risk: Residential sales declined 11.1% amid variable weather and low early-season snowfall
Financial risk: $117.0 million LIBOR-based term loan due October 2019
Currency risk: Foreign exchange reduced fiscal 2016 year-to-date sales by $23.6 million

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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