Tractor Supply Guides Q3 EPS, Net Sales Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, rural lifestyle retailer Tractor Supply Co. (TSCO) provided earnings and net sales guidance for the third quarter.

For the third quarter, the company now projects earnings in a range of $1.15 to $1.35 per share on net sales between $2.30 billion and $2.42 billion, with comparable store sales growth of 12.0 to 18.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.13 per share on net sales of $2.18 billion for the quarter. Analysts' estimates typically exclude special items.

Coronavirus (COVID-19) related costs will continue to impact the business and are estimated to be approximately $15 million to $20 million in the third quarter.

For fiscal 2020, the company now expects to open 75 to 80 new Tractor Supply stores. It also anticipates opening 10 new Petsense locations compared to its previous outlook of 10 to 15 new stores.

The company said the impact that the COVID-19 pandemic will have on the broader economy and the Company's fiscal 2020 results remains uncertain.

In late April, the company had withdrawn its financial guidance for fiscal 2020, provided on April 7, 2020, given the uncertainty related to the coronavirus (COVID-19) pandemic.