Tractor Supply Company Raises Guidance

(RTTNews) - Tractor Supply Company (TSCO) said, for fiscal 2021, the company now expects earnings per share in a range of $7.05 - $7.40, revised from prior guidance of $6.50 - $6.90. Net sales are now expected $11.4 billion - $11.7 billion, revised from $10.7 billion - $11.0 billion. Comparable store sales are anticipated to rise 5.0% to 8.0%. Share repurchases for fiscal 2021 are expected to be approximately $700 million to $800 million.

First quarter net income increased 116.5% to $181.4 million from $83.8 million, last year. EPS increased 118.3% to $1.55 from $0.71. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.96, for the quarter. Analysts' estimates typically exclude special items.

First quarter net sales increased 42.5% to $2.79 billion from $1.96 billion, last year. Comparable store sales increased 38.6%. Analysts expected revenue of $2.45 billion, for the quarter.

Shares of Tractor Supply Company were up 6% in pre-market trade on Thursday.