2024-04-25 08:02:48 ET
Tractor Supply Co (NASDAQ: TSCO) is trading up in premarket on Thursday after coming in ahead of Street estimates for per-share earnings in its first financial quarter.
Here’s what expects for its fiscal 2024
The chain of retail stores did somewhat impress in terms of guidance as well that’s adding to the upward pressure on its stock at writing.
Tractor Supply forecasts its net sales to fall between $14.7 billion and $15.1 billion this year on up to $10.50 a share of earnings. Analysts, in comparison, were at $14.98 billion and $10.24 per share, respectively. Hal Lawton – the chief executive of said in a press release today:
We remain confident in our outlook for 2024 given our share gains and the continued scaling of our Life Out Here strategy. We remain committed to disciplined investments to capture the significant long-term growth opportunities in our market.
The Nasdaq-listed firm improved its gross margin by 50 basis points to 36% in Q1. Tractor Supply stock is currently up some 20% versus the start of 2024.
Watch here: https://www.youtube.com/embed/wNzOBKUGJlM?feature=oembedTractor Supply Q1 earnings snapshot
Net income printed $198 at million versus the year-ago $183 million
Per-share earnings also climbed from $1.65 to $1.84 in Q1
Diluted EPS came in at $1.83 as per the earnings report
Revenue jumped 2.9% year-over-year to $3.39 billion
Consensus was $1.72 a share on $3.40 billion in revenue
Tractor Supply repurchases about $117 million worth of its stock in the recently concluded quarter. CEO Lawton also said on Thursday:
We saw several positive signs in our business during the quarter, including ongoing market share gains, transaction growth and strength in big ticket sales. Most importantly, we believe that our customer base remains healthy and engaged.
currently pays a dividend yield of 1.70%.
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