Tractor Supply Q2 Profit Tops Estimates; Raises FY15 Guidance - Quick Facts

(RTTNews) - Tractor Supply Company (TSCO), the largest rural lifestyle retail store chain in the United States, reported that its second quarter net income increased 14.9% to $153.3 million from $133.4 million and earnings per share increased 17.9% to $1.12 from $0.95, prior year.

On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $1.11 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 11.9% to $1.77 billion from $1.58 billion in the prior year's second quarter. Comparable store sales increased 5.6%. Analysts expected revenue of $1.77 billion for the quarter.

Greg Sandfort, President and Chief Executive Officer, stated, "We had a solid second quarter and were pleased with the sales trends during the quarter. Our merchandise, planning and store teams did an excellent job of managing assortments and driving strong sales and margins for the quarter. Once again, sales growth was broad based across all our merchandise categories and geographic regions and we saw growth in both traffic and ticket."

Tractor Supply raised its financial expectations for fiscal 2015. Net sales are now anticipated to range between $6.25 billion and $6.33 billion compared to the previous expected range of $6.20 billion to $6.30 billion. Comparable store sales are now expected to increase 3.5% to 4.5% compared to prior expectation of an increase of 2.5% to 4.0%. The company now anticipates 2015 net income will range from $3.00 to $3.08 per share compared to previous guidance of $2.95 to $3.05 per share.

Analysts expect the company to report 20115 earnings per share of $3.07 on revenue of $6.32 billion.