The outdoor power equipment market is projected to grow from $31.0 billion in 2024 to $36.5 billion by 2029, with a 3.3% CAGR. Growth is driven by increasing homeowner interest in gardening, landscaping services, and battery-powered equipment adoption.

Heavy equipment manufacturers like Caterpillar, Toro, and Deere are likely to face challenges from tariffs, including higher costs and softer demand. While they may eventually adapt, the uncertainty makes it prudent to be cautious in the near term.

Toro's stock dropped 5% after the company reported lower-than-expected Q1 revenue, despite keeping its full-year outlook unchanged. While Toro's commercial business is performing well, its residential business is slow, and the company shipped fewer products due to unsold inventory. However, Toro has been able to reward shareholders with a dividend increase and stock buybacks, and its dividend yield is the most attractive in over a decade.

Toro reported mixed Q1 2025 results, with the Professional segment posting strong performance but the Residential segment facing challenges. The company maintained its full-year guidance, focusing on innovation, Professional segment growth, and operational productivity.

Toro's Q1 sales declined 1% year-over-year, missing expectations, due to higher material costs and increased promotions. The company reaffirmed its FY25 sales growth and adjusted EPS outlook.

The global smart irrigation market is growing rapidly, driven by the adoption of precision agriculture technologies to address water scarcity and inefficiencies in traditional irrigation systems. Smart irrigation systems, powered by IoT, AI, and sensors, optimize water usage, enhance crop productivity, and promote sustainability.

The Soil Moisture Sensor Market is expected to grow significantly, driven by the rising adoption of precision agriculture and water conservation practices. Advancements in sensor technology, including wireless connectivity and IoT integration, have accelerated the market's growth, particularly in the agriculture sector.

The micro irrigation system market is expected to grow significantly from $10.9 billion in 2024 to $27.4 billion by 2034, driven by the need for water conservation and technological advancements in automation and remote sensing. Key players in the market include Netafim Ltd., Jain Irrigation Systems Ltd., and The Toro Company.

The global commercial lawn mower market is expected to grow from $7.02 billion in 2025 to $10.49 billion by 2033, driven by increasing demand from the golfing sector and the rising popularity of robotic lawn mowers.

The automated irrigation systems market is expected to grow at a CAGR of 17% between 2024 and 2032, driven by rising food demand and the need for improved agricultural productivity. Technological advancements in IoT, sensors, and cloud-based platforms are reshaping the industry, enabling real-time oversight, optimized water usage, and enhanced efficiency.

Toro's shares fell 12% after the company reported weaker-than-expected Q3 results and lowered its full-year earnings guidance. The company is seeing strong demand from its professional segment but caution in the lawn care business due to macroeconomic uncertainty, including higher interest rates and economic uncertainty impacting housing sales.

U.S. stock averages dropped on Thursday as the labor market showed signs of cooling, with private sector job growth missing expectations. Tech stocks, led by Tesla, managed to pare losses, while natural gas prices surged. The S&P 500 fell below the 4,500 support level, extending weekly losses.