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Toro's argument is that many users of electric snow throwers may not be aware of shock hazards that might exist with three-wire cord and a triple- prong ...

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Proof of the increasing popularity of the light and super-light snow- throwers is found in sales trends. Toro's marketing research indicates that sales of ...

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Toro has nothing to do with bullfights, but its management is seeing red anyway. The major producer of power lawn mowers, snow throwers, and underground ...

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Toro now offers seven different models Snowthrowers: 'winter fun' ... In our 1968 survey, makers reported some 16 7-hp snow- throwers and no 8-hp machines. ...

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How to create profitable new products, from mission to market
Toro finds its snowthrowers sell best in pre-season, especially following a year of heavy snows. Chad Kelly, Toro's marketing manager for consumer products, ...

This comprehensive resource guides students step-by-step through the product development process, from concept through launch in the marketplace. Case histories profile successful new product introductions in a changing marketplace. This text details the best ways to: * Identify and respond to the real needs of consumers. * Plan for products that fit the company's charter and win top management commitment. * Test new products to spot and cure defects, assess market potential, and plan expansions. * Develop a complete marketing plan for a major new product introduction.

TEXT-S&P raises Toro Co rating to 'BBB'

Overview -- U.S. outdoor grounds-care equipment manufacturer Toro has sustained improved operating performance and credit measures over the past year. -- We are raising our ratings on Toro, including the corporate credit rating, to 'BBB' from 'BBB-'. -- The rating outlook is stable, reflecting our expectation that operating performance will continue to strengthen and the company will sustain its improved margins and credit measures. Rating Action On April 30, 2012, Standard & Poor's Ratings Services raised its corporate credit and senior unsecured debt ratings on Bloomington, Minn.-based The Toro Co. to 'BBB' from 'BBB-'. The outlook is stable. About $251 million of total debt was outstanding at Feb. 3, 2012. Rationale The upgrade primarily reflects Toro's consistent improvement in operating performance and credit measures over the past two years, as well as our expectation that the company will sustain these improvements. For the 12 months ended Feb. 3, 2012, we estimate average ratio of total debt to EBITDA was 1.2x compared with 1.4x for the same period in fiscal 2011. In addition, EBITDA-to-interest coverage increased to 12.2x for the 12 months ended Feb. 3, 2012, up from 10.7x in 2011. The improvement in credit metrics is primarily a result of higher EBITDA, as the company's sales have grown over the past year and have surpassed prerecessionary levels. For the 12 months ended Feb. 3, 2012, Toro posted growth of 10.5% following a 15% gain for the same period one year ago. Adjusted EBITDA margins increased to 13.2% for the 12 months ended Feb. 3, 2012 (up from 12.2% for the same period last year), and are closer to the company's historical range of 13% to 15%. Sales growth occurred across both Toro's professional and residential segments but was particularly strong for the company's higher-margin professional segment, which we believe will continue. We believe Toro's credit metrics could continue to improve modestly with additional EBITDA growth over the next year and remain strong for the revised rating. Our forecast assumptions include: -- We believe Toro's sales are likely to increase about 7% in fiscal 2012, reflecting growth in both the professional and residential businesses and modest acquisition contributions. -- We expect adjusted EBITDA margins before acquisitions will increase modestly, as higher volumes, cost saving initiatives, and a more favorable product mix outweigh input cost inflation. -- We see capital expenditures of about $45 million, and up to $100 million in share repurchases. Based on our forecast, we estimate that by the end of fiscal 2012 (ended October), adjusted leverage will be about 1.1x and the ratio of funds from operations (FFO) to total debt will be above 60%. We believe credit measures will be sustained at the stronger end of the indicative ratio ranges for a "modest" financial risk profile, which includes leverage of 1.5x to 2x and FFO to total debt of 45% to 60%. The ratings on Toro reflect our opinion that the company has a "satisfactory" business risk profile and a "modest" financial risk profile. Key credit factors considered in our business risk assessment include Toro's solid market positions in the professional turf-equipment and service market, its good market positions in consumer lawn and garden power equipment products, and its international diversity. We also consider Toro's vulnerability to economic cycles, the high degree of seasonality in its business, and highly competitive end-user markets. We believe its financial risk profile is modest, based on its solid credit metrics, strong liquidity, and conservative financial profile. Toro is a manufacturer of outdoor grounds-care equipment and irrigation products for residential and professional landscaping as well as the commercial market. The professional segment accounted for 66% of fiscal 2011 sales, and includes golf-course maintenance, irrigation equipment, and landscape-contractor power-mowing products. The residential segment, which includes mowers, riding products, and snow throwers, accounted 34% of fiscal 2011 sales. Though it is historically the more stable of the two operating segments, the professional segment experienced a greater decline in sales during the recession than the residential segment, which operates within a highly competitive market and is subject to weather conditions. The company has strong market positions, particularly in the golf and landscape contractor markets, and has well-known brands, including the retail brands Toro and Lawn-Boy. Toro competes against other participants such as Deere & Co., Briggs & Stratton Corp., and Honda Motor Co. International sales add diversity and accounted for about 32% of total sales in fiscal 2011. Toro benefits from a diversified revenue and customer base. The company offers many products under its two main product categories and its largest customer is 13% of its sales base. Toro's business is highly seasonal, with about 60% of sales and 85% of profitability occurring in the second and third quarters of its fiscal year. However, it has managed the seasonality well, and during nonrecessionary times has generated consistently good operating results. Liquidity We believe Toro will have "strong" liquidity to meet is needs over the next 12 to 24 months. This is based on the following information and assumptions: -- We expect liquidity sources (including cash, funds from operations, and revolving credit availability) will exceed uses by more than 1.5x over the next 12 months. -- We expect net sources to be positive, even with a 30% drop in EBITDA. -- In our view, compliance with financial maintenance covenants likely would survive a 30% drop in EBITDA. -- As of Feb. 3, 2012, the company's cash sources included cash and equivalents of about $72 million, and $127 million of availability under its credit facilities, which include a $150 million revolving credit facility and non-U.S. short-term lines of $15 million. -- We expect the company to generate more than $180 million in funds from operations during fiscal 2012. -- Toro was in compliance with all of its financial covenants as of Feb. 3, 2012, and had ample cushion. -- The company has no near-term debt maturities. -- Capital expenditures for fiscal 2012 of roughly $45 million are likely to be supported with operating cash flow. In addition, we expect the company to continue to support share repurchase activity of about $100 million in 2012 with its cash sources. -- We believe the company has well-established and solid relationships with its banks, and generally prudent financial risk management. Outlook Our ratings outlook on Toro is stable. We believe operating performance will continue to strengthen, and expect the company to sustain its improved margins and credit measures. We expect the company will maintain average adjusted leverage near 1.5x and FFO to total debt of between 55%-60%. Although an upgrade is unlikely over the near term, this would require Toro to further diversify its business mix, leading to an improved business risk assessment, while maintaining existing strong credit measures. We could consider a lower rating if financial policy becomes more aggressive or operating performance deteriorates and credit measures weaken, such that leverage exceeds 2x. Such a scenario could include a decline in revenue of about 20% combined with 250 basis points of EBITDA margin compression, perhaps due to a significant slowdown in demand due an economic downturn and increased input cost inflation. Related Criteria And Research -- Liquidity Descriptors For Global Corporate Issuers, Sept. 28, 2011 -- Business Risk/Financial Risk Matrix Expanded, May 27, 2009 -- Key Credit Factors: Business And Financial Risks In The Branded Consumer Products Industry, Sept. 10, 2008 -- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008 Ratings List Upgraded To From The Toro Co. Corporate Credit Rating BBB/Stable/-- BBB-/Positive/-- Senior Unsecured BBB BBB-

Source: Reuters

Toro Snow Throwers Lowes | Snow Blower Video Blog

by admin

Everyone needs yard equipment unless you hire a gardener, and during a recession the first thing people let go is the landscaping company and cleaning pool. This is because people have to save money and have to find a way to do some household chores for themselves to make ends meet. So the big question how is supposed to keep your yard if you do not have a weed-Wacker, a chainsaw and a pressure washer at home to clean the road and blow the leaves?

Obviously, you have to go to the local Lowe's or Home Depot and pick up all equipment. saws lawn mowers, chain Wackers Weed, "and the home pressure washers can be expensive. If you have to buy all this equipment at home outdoors in the local home improvement center and they are easy to run $ 1000 or more, and that is whether you buy the cheaper brands from China.

A lawn mower well these days can cost $ 440 to $ 500. A chain saw could save a good set you back $ 150 or more. A decent pressure washing could easily run 200 and $ 300. At the current sales catalog had a revolving dining room weed for sale for $ 39.35, but judging by the picture that was one of the cheaper versions and when you find one you like could easily cost $ 90.

Therefore, if your landscape service that costs $ 200 a month in which they have paid for this team in five months. Of course, if the recession has ended five months may not make sense for you to fire your lawn service, and this is something that many people forget to think. So I thought I mentioned to you. Please consider this.

Source: Toro Snow Throwers Lowes | Snow Blower Video Blog

News

Snow Blowers Direct Adds GreenWorks Electric Snow Blowers

San Francisco Chronicle (press release) - Nov 12, 2010

carries a complete line of Ariens, Husqvarna, McCulloch, Toro and MTD single stage and two-stage snow throwers as well as a wide array of accessories.

Snow Blowers Direct Announces Ariens 2010 Snow Blower Line

RedOrbit - Nov 20, 2010

In addition to Ariens snow throwers, SnowBlowersDirect.com also offers Toro, Husqvarna, MTD Gold single-stage and two-stage snow blowers,