Toro Q3 10-Q: Record Sales, $43.1M Impairment, and Red Iron JV Restructuring
TTC sits 37% above its 52-week low of $67.64.
Summary
Toro's Q3 10-Q confirms record sales and EPS, discloses $43.1M in non-cash impairment charges from facility and product-line exits, and files amended Red Iron joint venture agreements extending the partnership to 2031.
Key Events · Earnings and Guidance · TTC
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Record Q3 Results Confirmed
Net sales rose 8.4% to $1,225.8M and adjusted EPS reached $1.33, up 7.3% year-over-year, driven by Professional segment volume and the Tornado acquisition.
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$43.1M Non-Cash Impairment
Charges relate to the planned closure of the Monterrey manufacturing facility and the exit of a residential mower platform, recorded in Other activities during Q3 fiscal 2026.
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Red Iron JV Amended and Restated
Exhibits 2.1, 2.2, and 2.3 amend the Red Iron Acceptance joint venture with Huntington Distribution Finance, extending the term to October 31, 2031 with a $1.35B credit facility.
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Share Repurchases Continue
Toro repurchased 3,915,301 shares for $358.1M in the first nine months of fiscal 2026, with 6,476,489 shares remaining authorized under the program.
Analysis · TTC · Technology
Toro's fiscal Q3 10-Q confirms the record results already announced this morning — net sales up 8.4% to $1.23 billion and adjusted EPS of $1.33 — but adds material new detail. The company took $43.1 million in non-cash impairment charges tied to closing its Monterrey manufacturing facility and exiting a residential mower platform, a restructuring that will reduce future costs but signals portfolio rationalization. The filing also includes amended and restated agreements for the Red Iron joint venture with Huntington, extending the financing partnership through 2031. For a company with an $8.8 billion market cap, the impairment is modest but the restructuring and JV extension are strategically relevant.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30% of the 1963 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.14%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TTC was trading at $92.86 on NYSE in the Technology sector, with a market capitalization of approximately $8.8B. The 52-week trading range was $67.64 to $105.19. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.