Toro Co (TTC) Q2 2017 10-Q Quarterly Earnings

Short answer

Toro Co (TTC) filed its Q2 2017 10-Q quarterly report on Jun 7, 2017 for the quarter ended May 5, 2017.

AI summary of MD&A and risk factor updates

Q2 revenue $872.8M, up 4.3% YoY from $836.4M
Net earnings $120.5M, with net margin 13.8% vs 12.6%; tax rate 23.9% vs 31.5%
Best segment: Residential revenue $258.1M, up 8.4%; Professional operating margin 24.4% vs 23.8%
Worst segment: Residential operating margin 13.6% vs 14.7%, despite operating earnings up 0.2%
Operating cash flow increased $22.0M in six months; dividends rose to $0.175 per share, with higher stock repurchases
Outlook: ASU 2016-09 tax benefit expected to continue; commodity prices anticipated slightly higher for fiscal 2017

No material changes to risk factors from the fiscal 2016 10-K
Patent litigation exposure: active infringement cases involving competitors at varying litigation stages
Product liability risk: claims may seek punitive and compensatory damages from product use
Environmental compliance risk: asbestos and hazardous-substance claims may involve cleanup costs
Liquidity risk: $335.1 million long-term debt outstanding as of May 5, 2017

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

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