RTTNews | Jun 3, 2021 09:05AM EDT

09:05 Thursday, June 3, 2021 (RTTNews.com) - While reporting financial results for the second quarter on Thursday, Toro Co. (TTC) raised its adjusted earnings and net sales guidance for the full year 2021.

The company's updated guidance is based on management's current visibility, and reflects expectations of a continuing increased demand environment, as well as escalation of supply chain disruption and inflation.

For fiscal 2021, the company now projects adjusted earnings in a range of $3.45 to $3.55 per share on total net sales growth of 12 to 15 percent.

Previously, the company expected adjusted earnings in a range of $3.35 to $3.45 per share on total net sales growth of 6 to 8 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.54 per share on net sales of $3.70 billion for the year. Analysts' estimates typically exclude special items.

"As we look ahead to the second half of the year, we are encouraged by the positive demand trends across our businesses, the enthusiastic customer response to innovative new product offerings, and the benefits from our productivity and synergy initiatives," said Richard Olson, chairman and chief executive officer.

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