Tractor Supply beats earnings estimates in Q1

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 $TSCO 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 $TSCO said in a press release today:

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.

Tractor 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 repurchased about $117 million worth of its stock in the recently concluded quarter. CEO Lawton also said on Thursday:

$TSCO currently pays a dividend yield of 1.70%.