The Toro Company reported its fiscal fourth-quarter and full-year results for the period ended October 31, 2024. For the fourth quarter, net sales increased 9% to $1,076.0 million, while adjusted diluted EPS was $0.95. Full-year fiscal 2024 net sales reached $4,583.8 million, a 1% increase, with adjusted diluted EPS of $4.17.
The Professional segment demonstrated strength, with Q4 sales up 10% to $913.9 million, driven by higher shipments of golf and grounds products and underground construction equipment. Conversely, the Residential segment saw sales rise 4.5% to $155.1 million, primarily from lawn care products through its mass channel, despite lower snow product shipments and a reported segment loss of $13.8 million.
For fiscal 2025, management provided guidance anticipating total company net sales growth in the range of 0% to 1% and adjusted diluted EPS in the range of $4.25 to $4.40. The company also reported a substantial increase in free cash flow for fiscal 2024, reaching over $470 million, which equated to a conversion rate of 112.4%.
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