Toro Co (TTC) Q3 2018 10-Q Quarterly Earnings

Short answer

Toro Co (TTC) filed its Q3 2018 10-Q quarterly report on Sep 5, 2018 for the quarter ended Aug 3, 2018.

AI summary of MD&A and risk factor updates

Q3 revenue $655.8M, up 4.4% YoY from $627.9M
Operating margin 14.2% vs 14.0% YoY, gross margin 35.6% vs 36.1%
Residential strongest segment: revenue $166.5M, up 9.5%; earnings margin 9.6% vs 7.5%
Professional largest segment: revenue $482.5M, up 3.0%; earnings margin 20.3% vs 20.8%
Operating cash flow down $17.3M year to date; investing outflows up $28.9M, financing outflows up $66.4M
Near-term headwinds: higher commodity and component costs, manufacturing supply challenges, freight costs, and anticipated higher costs for the remainder of fiscal 2018

No material changes broadly, except amended regulatory and credit-risk factors versus the most recent 10-K
Regulatory compliance: tariffs, duties, or other charges on imported raw materials, components, parts, or accessories
Product compliance: engine-emission rules and restrictions on water usage could require product or operational modifications
Liquidity: $600 million revolving credit facility exposed to bank counterparty deterioration, expiring June 2023
Debt covenant: leverage ratio above 1.50 would increase interest rates on revolving-credit borrowings

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

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