Richard Olson

Chairman, President & Chief Executive Officer, Toro

Search every verified Richard Olson interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. On Toro’s first quarter 2026 earnings call, Olson reported that the company exceeded expectations in both segments, with consolidated net sales increasing more than 4% to $1.04 billion and adjusted earnings per share rising to 74 cents from 65 cents a year earlier. He noted that the company generated free cash flow of $14.6 million, resulting in a free cash flow conversion rate of 22%. Olson attributed the performance to higher earnings in the professional segment, which he said represents about 80% of the portfolio, and highlighted the acquisition of Tornado Infrastructure Equipment to expand hydrovac excavation solutions. Olson stated that Toro continues to implement its multi-year AMP program, which he said has contributed $95 million in cost savings toward a $125 million aggregate goal. He described the company’s capital allocation strategy as prioritizing investment in research, new products, productivity improvements, and technology, followed by mergers and acquisitions, dividends, and share buybacks. During the quarter, Toro repurchased approximately $95 million of common stock. Olson also noted that retail demand was stronger than shipments, with professional segment shipments above the 10-year average, and expressed confidence in field inventory positions heading into the second half of the year.