Here are 1-3 brief analogies for Toro (TTC):

1. The John Deere for golf courses, sports fields, and backyard lawn care.
2. A specialized outdoor equipment manufacturer, like a lighter-duty Caterpillar for greenspaces and utility lines.

• Turf & Landscape Maintenance Equipment: Toro produces a wide range of mowers, trimmers, blowers, and utility vehicles for residential, commercial, and golf course applications.
• Professional Construction & Underground Equipment: This category includes machinery such as trenchers, compact utility loaders, and horizontal directional drills primarily for the construction and rental industries.
• Snow & Ice Management Products: Toro offers equipment like snow throwers, plows, and spreaders designed for both residential and commercial snow and ice removal.
• Specialty Irrigation Systems: The company provides advanced drip and micro-irrigation solutions for agricultural use, alongside landscape irrigation systems for various outdoor environments.

The Toro Company (TTC) primarily sells its products to other companies, specifically a global network of independent dealers, distributors, and major retailers. These entities then sell the products to end-users, which include both professional customers (e.g., golf courses, municipalities, landscape contractors, construction companies) and individual residential customers.

Based on their widespread retail presence, the following public companies are major retail channel partners for Toro's residential products and some pro-sumer lines:

• The Home Depot, Inc. (symbol: HD)
• Lowe's Companies, Inc. (symbol: LOW)

While a significant portion of Toro's professional products are sold through independent, specialized dealerships and distributors (who are also companies), specific major public company customers in that distribution channel are not typically disclosed due to the fragmented nature of their network, and Toro's financial reports generally indicate no single customer accounts for a significant percentage of their overall revenue.

Richard M. Olson, Chairman of the Board, President and Chief Executive Officer

Richard M. Olson joined The Toro Company in 1986 as a manufacturing process engineer. He has held various leadership positions in operations and engineering across five Toro locations. In 2010, he was named general manager of Exmark, a Toro company, and became vice president of Exmark in 2012. Mr. Olson was elected president and chief operating officer in September 2015, chief executive officer in November 2016, and chairman of the board in November 2017. He earned a Bachelor of Science in industrial technology from Iowa State University and an MBA from the University of Minnesota – Carlson School of Management. Mr. Olson serves on the board of Donaldson Company, Inc. and the Carlson School Board of Overseers.

Angela C. Drake, Vice President and Chief Financial Officer

Angela C. Drake was appointed Vice President and Chief Financial Officer of The Toro Company effective March 10, 2023. She joined Toro as senior managing director and integration co-lead following The Charles Machine Works (CMW) acquisition in April 2019. Ms. Drake originally joined CMW in 1997, where she held roles including corporate controller and treasurer starting in 2007, and chief financial officer, secretary, and treasurer in 2011. As CFO of CMW, she was instrumental in strategic planning and creating CMW's family of businesses through acquisitions. She also served as Toro's vice president, finance in 2022 and vice president, construction from 2020. Ms. Drake serves on the board of Simpson Manufacturing Co., Inc. and First Bank & Trust Company.

Edric C. Funk, President and Chief Operating Officer

Edric C. Funk was appointed President and Chief Operating Officer of The Toro Company, effective September 1, 2025. A 29-year veteran of the company, he oversees all of the company's global businesses and integrated supply chain operations. Mr. Funk joined Toro in 1996 as a design engineer and has held various leadership roles across Residential, Landscape Contractor, International, and Commercial businesses, including group vice president of Golf, Grounds and Irrigation since 2022. He holds a Bachelor of Science in engineering and an MBA from The University of Minnesota – Carlson School of Management.

Joanna M. Totsky, Vice President, General Counsel and Corporate Secretary

Joanna M. Totsky joined The Toro Company as Vice President, General Counsel and Corporate Secretary, effective June 19, 2023. Prior to Toro, she served as Senior Vice President, Chief Legal and Transformation Officer and Secretary at Cooper-Standard Holdings, Inc. She also spent 16 years at Ford Motor Company in various roles, gaining expertise in corporate governance, mergers and acquisitions, and SEC and NYSE compliance. Ms. Totsky earned a Bachelor of Arts in English from St. Mary's College and a Juris Doctor from Wayne State University Law School.

Grant M. Young, Group Vice President, Golf, Grounds and Irrigation

Grant M. Young was appointed Group Vice President of Golf, Grounds and Irrigation at The Toro Company, effective October 7, 2025. He joined the company in 2004 as a national account manager for the Residential and Landscape Contractor business. Mr. Young has held numerous leadership positions within the company, including director of marketing and general manager for the Commercial business, and most recently served as vice president of Commercial since 2023. He holds a Bachelor of Arts in finance and marketing from the University of St. Thomas and an MBA from the University of Notre Dame.

1. Weakness in the Residential Segment and Economic Uncertainty: Toro's Residential segment has experienced significant declines in sales due to weak consumer demand, cautious spending, and a reluctance by homeowners to make large purchases. This trend is exacerbated by broader economic uncertainty, inflationary pressures, and higher interest rates. The persistent underperformance of this segment remains a primary concern for the company.
2. Supply Chain Vulnerabilities and Cost Pressures: The company continues to navigate global supply chain disruptions, which have led to increased costs for commodities, components, parts, and accessories. Additionally, elevated material and manufacturing costs, along with the impact of tariffs (particularly on steel and aluminum), continue to pressure earnings and offset productivity improvements.
3. Seasonality and Weather Dependency: Toro's business is inherently seasonal, leading to fluctuations in demand for its products. Adverse weather conditions and the broader impacts of climate change can negatively affect the landscaping and turf maintenance industry, further impacting demand and revenue consistency throughout the year.

The accelerating market penetration and technological advancements of pure-play electric outdoor power equipment manufacturers. These companies, often solely focused on battery and motor technology, are rapidly innovating in power, run-time, and charging solutions, and are increasingly capturing market share in both residential and commercial segments. Their agility, potentially different cost structures, and focused R&D in electric products represent a significant emerging competitive threat to established manufacturers like Toro, who must simultaneously manage legacy gas-powered product lines and adapt quickly to the evolving electric landscape.

The Toro Company (TTC) operates in several key markets, providing a diverse range of products and services for turf and landscape maintenance, irrigation, snow and ice management, and underground utility and specialty construction. The addressable markets for these main product categories are detailed below, with regions specified where available:

• Lawn Mowers (Global): The global lawn mowers market was valued at approximately USD 37.26 billion in 2024 and is projected to reach USD 57.27 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.52% from 2025 to 2032. Another estimate places the market at USD 34.9 billion in 2023, expected to reach USD 60.1 billion by 2032, with a CAGR of 6.2%. North America is a significant market, accounting for approximately 40% of the global share.

• Turf Care Equipment (Global): The global turf care equipment market size is estimated to be US$15.4 billion in 2025 and is projected to reach US$22.6 billion by 2032, growing at a CAGR of 5.6% from 2025 to 2032. Another source states the market was valued at USD 28.4 billion in 2024 and is anticipated to increase to USD 43.8 billion by 2035, with a CAGR of 3.99% from 2025 to 2035. North America was the largest region in the turf equipment market in 2024.

• Landscape Equipment (Global): The landscape equipment market was valued at USD 35.37 billion in 2024 and is expected to reach USD 64.5 billion by 2031, growing at a CAGR of about 7.80% from 2024 to 2031. The landscaping tools market is forecast to reach USD 46.70 billion by 2030, advancing at a 5.80% CAGR from USD 35.20 billion in 2025. North America holds market leadership in this sector.

• Sprinkler Irrigation Systems (Global): The global sprinkler irrigation systems market size was valued at USD 2.6 billion in 2023 and is anticipated to exceed USD 3.4 billion by 2033, growing at a CAGR of 2.7% from 2023 to 2033. North America is projected to hold the largest share of this market.

• Smart Irrigation (Global): The global smart irrigation market was valued at USD 2.0 billion in 2024 and is expected to reach USD 5.8 billion by 2033, exhibiting a CAGR of 12.68% during 2025-2033. North America dominates the global smart irrigation market due to its advanced technology infrastructure and focus on water conservation.

• Automated Irrigation Systems (Global): The automated irrigation systems market was valued at USD 4.2 billion in 2023 and is estimated to register a CAGR of over 17% between 2024 and 2032, reaching USD 16.7 billion by 2032. The North American region accounted for over 36% of the market share in 2023 and is expected to exceed USD 6.2 billion by 2032.

• Snow and Ice Management Equipment: null

• Underground Utility and Specialty Construction Equipment: null

• Outdoor Lighting Solutions: null

Here are 3-5 expected drivers of future revenue growth for The Toro Company (TTC) over the next 2-3 years:

1. Growth in the Professional Segment: The Toro Company anticipates continued strong demand within its Professional segment, particularly in underground construction and golf and grounds products. This growth is supported by multi-year infrastructure investment cycles and sustained high participation in golf, which drive equipment investments.
2. Product Innovation and Technology Advancement: Toro is focused on expanding its innovation pipeline and launching new, technologically advanced products. This includes investments in smart autonomous solutions, such as GPS-guided sprayers and autonomous fairway mowers, as well as the introduction of all-electric equipment like the Greensmaster® eTriflex®.
3. Strategic Price Realization: The company plans to thoughtfully implement price increases across its product portfolio. This strategy is intended to ensure product competitiveness, protect profit margins, and fund ongoing investments in future growth initiatives.
4. Residential Segment Recovery and Inventory Normalization: While the Residential segment has faced recent headwinds, the company expects that ongoing efforts to reduce field inventory and the potential return of consumer confidence will establish a cleaner foundation for improved performance and sales growth in the 2026 selling season and beyond.
5. Operational Efficiencies and Cost Reduction (AMP Program): Through initiatives such as the "AMP transformational productivity initiative," Toro aims to achieve significant annualized cost savings. These efficiencies are expected to improve operating leverage, enhance profitability, and allow for strategic reallocation of resources to further invest in innovation and growth areas, indirectly supporting future revenue generation.

Share Repurchases

• The Toro Company's annual share repurchases were $140 million in 2022, $60 million in 2023, and $245.5 million in 2024.
• As of the third quarter of fiscal 2025, year-to-date share repurchases totaled $290 million.
• On December 10, 2024, the Board of Directors authorized the repurchase of up to an additional 4 million shares of common stock.

Outbound Investments

• In January 2020, The Toro Company acquired Venture Products, Inc., manufacturer of Ventrac products, for $167.5 million in cash.
• In October 2025, Toro announced a definitive agreement to acquire Tornado Infrastructure Equipment for C$279 million, with the transaction anticipated to close in the first quarter of fiscal 2026.
• The company has made internal investments and acquisitions of companies like Left Hand Robotics and TURFLYNX, which have been crucial in advancing its innovation pipeline for autonomous technologies.

Capital Expenditures

• Expected capital expenditures for fiscal year 2025 are approximately $90 million.
• Capital expenditures are primarily focused on investments in technology innovations and new product development, particularly within professional segments such as underground construction and golf and grounds solutions.