12:58 PM EDT, 06/06/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Toro's (TTC) shares were up nearly 13% in recent Thursday trading after the company reported fiscal Q2 adjusted net earnings and net sales that rose more than expected by analysts.

The company reported fiscal Q2 adjusted net earnings of $1.40 per diluted share, down from $1.58 a year earlier. Analysts polled by Capital IQ expected $1.29.

Net sales for the quarter ended May 3 were $1.35 billion, up from $1.34 billion a year earlier. Analysts polled by Capital IQ expected $1.34 billion.

For fiscal year 2024, the company said it continues to expect adjusted earnings in the range of $4.25 to $4.35 per diluted share on low single-digit net sales growth from a year earlier. Analysts surveyed by Capital IQ are expecting adjusted earnings of $4.28 on revenue of $4.65 billion.

Price: 89.78, Change: +10.14, Percent Change: +12.73