Lawn and Garden Equipment Manufacturers NAICS 333112

Jun 15, 2026 - Toro Posts Solid Q2 Results

• Outdoor power equipment manufacturer The Toro Co. reported fiscal second-quarter net sales increased 8.1% to $1.42 billion, and net income rose 6.3% to 145.5 million from the prior-year period, driven by broad-based demand, pricing actions, and margin improvement. The Professional segment posted net sales growth of 9.1% to $1.11 billion, primarily due to net price realization, higher shipments of underground construction equipment and zero-turn mowers, and the acquisition of hydrovac truck maker Tornado. Residential segment net sales increased 4.4% to $310.4 million, driven by favorable pricing and higher shipments of zero-turn mowers, although snow equipment demand weakened. Toro upgraded its full-year fiscal 2026 guidance to sales growth between 4% to 6.5%, up from a previous estimate of 3% to 6.5%.
• According to recent analysis by Market Glass, the global market for power lawn and garden equipment is projected to grow from $71.4 billion in 2025 to $105.1 billion by 2032. The report forecasts a 5.7% compound annual growth rate (CAGR), driven by rising interest in home gardening and landscaping, advances in battery technology, and increased adoption of smart equipment features. Battery-powered and electric products continue gaining market share as consumers seek alternatives to gasoline-powered equipment. Electric equipment is expected to see a CAGR of 6.7% and reach $43.2 billion by 2032, while battery-operated equipment is forecast to grow at a 5.8% annual rate over the same period. The US market was valued at $22.1 billion in 2025, while China is projected to reach $25.1 billion by 2032 with a 9.1% compound annual growth rate.

• Providers of lawn care and landscaping – “Green” services – saw conditions improve in the first quarter of 2026 amid homeowners initiating more springtime outdoor projects, according to the recently released Home Service Economic Report by Jobber, a job tracking and customer management software firm. The green services industry was resilient in the first quarter despite mounting headwinds, including higher inflation, waning consumer confidence, and a sluggish housing market. The green sector saw a 7% increase in new work bookings in Q1 compared to the same period in 2025, and the median revenue of green firms increased by about 16%. The average invoice size grew by 8% in January, and 16% in February, before falling in March, but higher job volumes helped offset March's weaker invoice values.
• Steadier existing-home sales could signal growing demand for lawn and garden equipment, as consumers often buy new equipment after purchasing a home. Sales of existing US homes increased by 3.2% in May 2026 from April and were up 3.2% year-over-year, according to the National Association of Realtors (NAR). NAR chief economist Lawrence Yun said, "More Americans are on the move, with home sales rising to the highest level since December. This is great news for the housing market and the economy. Improving affordability is helping drive this momentum. Even with mortgage rates ticking up compared to earlier in the year, they remain lower than a year ago and are essentially at the long-term historical average. Income gains are also outpacing home price growth by a small margin in most parts of the country."