Balanced News: Toro Co. profit nearly doubles and adjusted earnings beat target, but revenue falls slightly short

Toro Co. TTC, +0.96% said Wednesday its fourth-quarter net income nearly doubled to $117.6 million, or $1.12 a share, from $60.1 million, or 56 cents a share, in the year-ago quarter. Toro’s fourth-quarter revenue rose to $1.17 billion from $960.7 million last year. For fiscal 2023, Toro expects adjusted earnings of $4.70 a share to $4.90 a share, compared to the analyst estimate of $4.84 a share.