The Toro pany(TTC) - 2024 Q1 - Earnings Call Transcript

Richard Olson Professional segment earnings for the first quarter were $112.8 million, down from $144.1 million last year. When expressed as a percentage of net sales, earnings for the segment were 14.9%, compared to 16.4% last year. The change was primarily due to lower net sales volume, partially offset by favorable product mix. Interest expense for the quarter was $16.2 million, up $2.1 million from last year. The increase was primarily due to higher average interest rates and higher average outstanding ...