The Toro pany(US:TTC)2020-09-03 15:02Financial Performance & Strategy - The Toro Company's F'19 revenues reached $3.1 billion[13] - The company aims for mid-single-digit organic growth annually, focusing on market share and margin expansion[66] - The company targets a debt-to-EBITDA ratio of 1-2x, balancing operating needs with shareholder returns[52] - The company's investment in Research & Engineering is sustained at 3%+ of net sales[48] Segment Breakdown (F'19) - Professional segment accounted for 78% of revenues, with sales of $2.443 billion and segment earnings of 15.6%[14, 15] - Residential segment contributed 21% of revenues, with sales of $661 million and segment earnings of 9.9%[14, 15] - Equipment makes up 88% of product type revenue, while Irrigation accounts for 12%[16] - United States represents 77% of the geographic market, with International at 23%[17] Fiscal Year 2020 Results (Year-to-Date) - Net sales reached $2.5379 billion, a 5.6% increase from F'19 YTD[37] - Gross profit was $889.4 million, up 10.8% from F'19 YTD, with a gross margin of 35.0%[37] - Operating earnings were $332.9 million, an 18.2% increase from F'19 YTD, resulting in an operating earnings margin of 13.1%[37]