In the fiscal third quarter, The Toro Company (NYSE: TTC) reported net sales of $1.13 billion, showing a 2% decrease from the previous year and falling short of the analyst estimate of $1.16 billion. Net earnings dropped to $53.5 million from $119.3 million, resulting in diluted earnings per share of 54 cents. This included a noncash impairment charge of 62 cents per share, equating to $81 million pretax. Adjusted net earnings were $122.5 million, slightly lower than the $123.7 million from a year ago; however, adjusted diluted earnings per share rose by 5% to $1.24, surpassing the $1.22 estimate. The company exceeded expectations with their third-quarter adjusted earnings, particularly within their Professional segment.