U.S. Movers: Arista Network, Cadence Design, Expeditors International, Toll Brothers, Toro Corp.

Scott Peters
19 Feb, 2025
New York City

Medtronic Plc. gained 0.3% to $86.30 after the American-Irish medical device company reported results for the fiscal 2025 third quarter.

Revenue increased 2.5% to $8.29 billion from $8.09 billion, net income dropped to $1.29 billion from $1.32 billion, and diluted earnings per share rose to $1.01 from 99 cents a year ago.

Sales in the cardiovascular, medical surgical, and diabetes segments marked a steady growth in the quarter, while the neuroscience segment dropped 3.7% to $769 million from $799 million in the same period last year.

For the full year, Medtronic estimated non-GAAP earnings growth between 4.6% and 5.8% in the range of $5.44 to $5.50 per share.

Toll Brothers Inc. plunged 5.8% to $115 after the homebuilding company missed earnings estimates in the first quarter of 2025, which ended on January 31.

Revenue declined to $1.86 billion from $1.95 billion, net income dropped to $177.70 million from $239.56 million, and earnings per diluted share fell to $1.75 from $2.25 a year ago.

The company repurchased approximately 0.2 million shares in the quarter, at an average price of $127.02 per share for a total purchase price of $23.7 million.

Arista Networks Inc. dropped 4.6% to $106 despite the computer networking company reporting revenue growth in the fourth quarter of 2024.

Revenue increased to $1.93 billion from $1.54 billion, net income jumped to $800.99 million from $613.64 million, and earnings per diluted share rose to 62 cents from 48 cents a year ago.

For the first quarter of 2025, the company estimated revenue between $1.93 billion and $1.97 billion, compared to $1.57 billion a year ago.

Toro Corp. gained 0.4% to $2.67 after the lawn equipment provider reported higher sales in the fourth quarter ended in December.

Net sales jumped 9% to $1.08 billion from $983.2 million, earnings climbed to $89.9 million from $70.3 million, and diluted earnings per share rose to 87 cents from 67 cents a year ago.

For fiscal 2025, the company estimated net sales growth in the range of zero to 1% and adjusted earnings per diluted share between $4.25 and $4.40, compared to $4.17 a year ago.

Expeditors International of Washington Inc. gained 3.8% to $118.03 after the logistics company reported strong earnings for the fourth quarter ended in December.

Revenue jumped 30% to $2.95 billion from $2.28 billion, net income climbed 49% to $235.88 million from $158.72 million, and earnings per diluted share rose 54% to $1.68 from $1.09 a year ago.

During the three and twelve months ended December 31, the company repurchased 2.0 million and 7.1 million shares of common stock at an average price of $120.14 and $119.47 per share, respectively.

Expeditors repurchased an additional 1.6 million and 12.1 million shares during the three and twelve months, at an average price of $119.22 and $114.68 per share, respectively.

In addition, during 2024 and 2023, the company paid cash dividends of $1.46 and $1.38 per share, respectively.

Cadence Design Systems Inc. dropped 3.9% to $288.65 despite the automation software provider reporting steady revenue growth in the fourth quarter ended in December.

Revenue climbed to $1.35 billion from $1.07 billion, net income increased to $340.21 million from $323.89 million, and earnings per diluted share rose to $1.24 from $1.19 a year ago.

For the first quarter of 2025, the company estimated diluted net income per share on a non-GAAP basis between $1.46 and $1.52, compared to $1.17 in the same period last year, and net income between $402 million and $419 million on a non-GAAP basis, compared to $318.88 million a year ago.

The company also estimated revenue in the first quarter between $1.23 billion and $1.25 billion, compared to $1.01 billion in the same quarter last year.