Sep 3, 2026 earnings call — Raised EPS guidance and AMP productivity gains
Raised adjusted EPS guidance to a range of $4.60 to $4.65, bringing midpoint to $4.63.
Revenue $1.2B (est $1.2B) · EPS $1.33 (est $1.31)
Key quotes
"This improvement was driven primarily by the benefits of our AMP initiative, which will exceed our target of $125 million in run rate savings by year-end."
"We have seen increased market adoption for our industrial and utility pipe relining solutions like HammerHead Bluelight, which has grown over 30% year-to-date."
"We've now placed hundreds of autonomous products across golf facilities worldwide, including the Turf Pro, Range Pro and GeoLink Autonomous Fairway Mower."
Analyst Q&A 4
Ditch Witch margins and AMP savings
Q (David S. MacGregor · Longbow): He asked about the Ditch Witch underground business margins and whether there is more margin upside to come. He also asked if AMP is finished or will continue and whether AMP savings will boost earnings in F'27.
A: Management said they are very excited about the underground business and see growth driven by data centers, utilities and broadband, plus internal profitability improvements since acquisition. They said underground is a high capital priority, including plant investments and inorganic deals. On AMP, they expect to achieve the $125 million run-rate savings by year-end and view those savings as creating durable margin potential that should help in F'27 once fully realized.
"We did mention in our prepared remarks that we expect to achieve our $125 million run rate savings by year-end." — Angela Drake (CFO)
Next AMP idea and golf irrigation demand
Q (Michael Shlisky · D.A. Davidson): He asked whether there will be a new program after AMP and if it might focus on sales growth rather than margin. He also asked for details on irrigation order flow, installations and global performance.
A: Management said they are considering what comes next and expect AMP ideas to be operationalized into the culture; they are not ready to announce specifics but anticipate another initiative likely including a growth element. On irrigation, they said demand remains very strong with a large project pipeline, installations are limited by crew availability, and projects and bids are on the books as far out as 2029.
"We've actually been giving that a lot of consideration and are working on what's next." — Edric Funk (COO)
Contractor demand, inventory and margins
Q (Timothy Wojs · Baird): He asked whether contractor volume growth was driven by snow or product-specific strength, how field inventories look exiting the season, how they are planning for a strong El Nino, and two margin questions about Tornado's impact and the timing of a $5 million tariff/refund item.
A: Management said landscape contractor demand was broad-based and helped by strong mowing product demand and product innovation, including Exmark refresh and Ventrac. They said they entered the season in good condition and are leaving in great condition, and they will prepare for varied weather without overreacting. They confirmed Tornado negatively impacts year-1 margin somewhat and that the $5 million IEEPA refund is taken out of Q4 guidance.
"And the IEEPA refund, the $5 million is coming out of Q4." — Angela Drake (CFO)
Canadian tariffs and next-year cost headwinds
Q (Sam Darkatsh · RJA): He asked for a ballpark of the impact from Canadian retaliatory tariffs and whether that is included in Q4 guidance. He also asked Angie for a bridge on gross tariffs and refunds to estimate next year’s gross cost headwinds.
A: Management said the near-term impact from the Canadian tariffs is relatively minimal for their business and that everything has been contemplated in the updated Q4 guidance; they will monitor the situation for next year. They cautioned against looking at tariffs in isolation because productivity, sourcing and manufacturing changes offset impacts, and they do not expect tariffs to be a meaningful separate headwind next year as they plan to offset pressures with AMP, pricing and continued margin expansion.
"But based on what has already taken place and what's going into effect here in the near term, really minimal impact to our business." — Richard Olson (CEO·CHAIR)