Tractor Supply Reiterates FY24 Financial Outlook

(RTTNews) - Tractor Supply Company (TSCO) said, for fiscal 2024, the company continues to expect: earnings per share in a range of $9.85 to $10.50; and net sales in a range of $14.7 billion to $15.1 billion. The company said capital plans for 2024 include opening approximately 80 new Tractor Supply stores, continuing Project Fusion remodels and garden center transformations, opening the company's 10th distribution center and opening 10 to 15 new Petsense by Tractor Supply stores.

First quarter net income increased 8.2% to $198.2 million from $183.1 million, last year. EPS increased 10.9% to $1.83 compared to $1.65. Analysts on average had expected the company to earn $1.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Net sales for the first quarter increased 2.9% to a record $3.39 billion. The company said the increase in net sales was driven by new store openings and growth in comparable store sales. Comparable store sales increased 1.1%, for the quarter.

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