Tractor Supply Co.'s stock slides 5% premarket after sales miss, lowered guidance
Tractor Supply Co.'s stock (TSCO) fell 5% early Thursday, after the retailer of farm and ranch products . Brentwood, Tenn.-based Tractor Supply had net income of $255 million, or $2.33 a share, for the quarter, up from $234.1 million, or $2.10 a share, in the year-earlier period. Sales rose 4.3% to $3.41 billion. The FactSet consensus was for EPS of $2.29 and sales of $3.47 billion. CEO Hal Lawton said sales were lower than expected. "Given this environment, we have updated our outlook for the year to reflect continued unfavorable seasonal category performance and discerning consumer spending," he said in a statement. The company is now expecting full-year EPS of $10.00 to $10.10, down from prior guidance of $10.20 to $10.40. It expects sales of $14.5 billion to $14.6 billion, down from prior guidance of $14.8 billion to $14.9 billion. Same-store sales are expected to be flat, versus prior guidance of up 1.3% to 2.5%. The stock has fallen 12% in the year to date, while the S&P 500 has gained 9%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
10-26-23 0731ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings, Is Coinbase Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy
-
Energy Transfer Earnings: M&A Drives Guidance Increase In Solid Quarter
-
The Best Healthcare Stocks to Buy
-
Going Into Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?