Tractor Supply Company Q3 Profit Rises; Lifts FY13 Guidance - Quick Facts

(RTTNews) - Tractor Supply Company (TSCO), the largest retail farm and ranch store chain in the United States, reported that its third-quarter net income increased to $64.8 million, or $0.46 per share, from $50.0 million, or $0.35 per share, prior year.

On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $0.41 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 13.4% to $1.21 billion from $1.07 billion, a year ago. Comparable store sales increased 7.5%. The company said the increase in comparable store sales was broad-based and driven by strong results in key consumable, usable and edible products as well as seasonal merchandise. Sales benefited from an extended spring selling season that resulted from mild temperatures through much of the quarter, the company said. Analysts expected revenue of $1.19 billion for the quarter.

The company now anticipates net income per share for the full-year 2013 to range between $2.24 and $2.27, compared to its previous guidance of $2.18 and $2.22, which reflects the recent two-for-one stock split. Net sales for the full-year 2013 are now expected to range between $5.12 billion and $5.17 billion compared to the company's previously expected range of $5.10 billion to $5.17 billion. Comparable store sales for the year are now expected to increase 4.2% to 5.0% compared to the prior expectation for an increase of 4.0% to 5.0%. Analysts expect the company to report fiscal 2013 profit per share of $2.24 on revenue of $5.16 billion.