Toro Company names Edric Funk as president and COO

BLOOMINGTON, Minn. - The Toro Company (NYSE:TTC), a $7.4 billion market cap company with a "FAIR" financial health rating according to InvestingPro, announced Tuesday that Edric C. Funk will become president and chief operating officer effective September 1, 2025.

Funk, a 29-year company veteran, will assume responsibility for all global businesses and integrated supply chain operations, reporting to Richard M. Olson, chairman and chief executive officer. The company has demonstrated strong financial stewardship, maintaining dividend payments for 42 consecutive years and achieving a healthy 33.7% gross profit margin in the last twelve months.

Currently serving as group vice president of Golf, Grounds and Irrigation since 2022, Funk joined Toro in 1996 as a design engineer before transitioning to marketing in 2003. He subsequently held various leadership positions across the company’s Residential, Landscape Contractor, International and Commercial businesses.

In his career at Toro, Funk led the acquisitions of Left Hand Robotics and TURFLYNX, which accelerated the development of robotic mowing platforms. He was recognized by Golf, Inc. as one of the "Most Innovative People in Golf" in 2020.

"I am honored to serve in this role, and I look forward to working alongside our talented team to drive operational performance across our businesses," Funk said in the press release.

Funk holds a Bachelor of Science in engineering and an MBA from the University of Minnesota, along with a professional certificate in innovation and technology from the Massachusetts Institute of Technology.

The Toro Company, which reported net sales of $4.6 billion in fiscal 2024, provides solutions for the outdoor environment including turf and landscape maintenance, snow management, and irrigation systems. According to InvestingPro analysis, the company appears undervalued at current levels, with multiple ProTips highlighting its strong financial position and growth potential. Discover comprehensive insights and detailed valuation metrics for TTC and 1,400+ other stocks through InvestingPro’s exclusive Research Reports.

In other recent news, The Toro Company reported its second-quarter earnings for fiscal year 2025, exceeding expectations with an adjusted earnings per share of $1.42, compared to the forecasted $1.38. However, the company’s consolidated net sales were $1.32 billion, slightly below the anticipated $1.35 billion, marking a modest decline from the previous year. Additionally, Toro announced the divestiture of its Trencor equipment brand and certain products from its American Augers line, though financial details were not disclosed. In response to these developments, DA Davidson adjusted its price target for Toro to $76 from $80, while maintaining a Neutral rating. Northland also downgraded Toro from Outperform to Market Perform following a reduction in the company’s full-year guidance, citing weakened residential demand and tariffs as contributing factors. Northland also lowered its price target for the stock to $80 from $100. Toro has reported $200 million in share buybacks year-to-date, reflecting a significant repurchase activity. These recent developments highlight the company’s strategic adjustments and ongoing financial performance.

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