TTC - The Toro Company: Guidance Risks Are Partially Priced In

2024-05-31 10:53:47 ET

Summary

• The Toro Company's long-term growth story has seen real risks after the company has seen a tough period over the last half a year.
• The company has doubled its sales over the past decade and experienced growth on a per-share basis, but trend lines appear broken.
• While improvement plans are in place, I worry about execution, taking a wait-and-see approach here while anticipating potential bad news.

Towards the end of last year, I believed that the worst concerns were alleviated in the case of The Toro Company ( TTC ) . While the second half of 2023 was unexpectedly very soft, it was a flattish 2024 outlook, which comforted investors in the belief that the long-term growth story was not broken....

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