Tractor Supply Q1 Results Top Estimates; Reaffirms FY Guidance

(RTTNews) - Tractor Supply Co (TSCO), the operator of rural lifestyle retail stores, on Wednesday reported first-quarter net earnings of $58 million or $0.42 per share compared with $48.8 million or $0.35 per share last year.

Revenues for the quarter were $1.33 billion compared with $1.18 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.41 per share on revenues of $1.31 billion for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales for the quarter were up 5.7%.

The company said its gross margin slid 10 basis points to 33.4%, due partly to increased clearance sales.

For the full year 2015, the company still expects earnings of $2.95 to $3.05 per share, revenues of $6.2 billion to $6.3 billion and comparable store sales growth of 2.5% to 4%.

Analysts expect earnings of $3.06 per share on revenues of $6.29 billion for the year.