Tractor Supply Shares Gain On Q4 Beat, Solid FY23 Outlook

Shivani Kumaresan
1 min read
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In this article:

  • Tractor Supply Co (NASDAQ: TSCO) reported fourth-quarter FY22 sales growth of 20.7% year-on-year to $4.01 billion, beating the consensus of $3.88 billion.

  • Comparable store sales increased by 8.6%, driven by comparable average ticket growth of 6.3% and comparable average transaction count increase of 2.3%.

  • EPS of $2.43 topped the Wall Street view of $2.35.

  • Gross profit increased 21.7% Y/Y to $1.36 billion, and the gross margin expanded 28 basis points to 34%.

  • The operating margin was 8.9%, and operating income for the quarter rose 22.6% to $359.2 million.

  • Tractor Supply held $202.5 million in cash and equivalents as of Dec. 31, 2022. Net cash provided by operating activities for FY22 totaled $1.4 billion.

  • Outlook: Tractor Supply sees FY23 sales of $15.0 billion - $15.3 billion versus the Street view of $15.08 billion.

  • The company expects FY23 EPS of $10.30 - $10.60 against the consensus of $10.47.

  • It expects comparable store sales growth of 3.5% - 5.5%.

  • Price Action: TSCO shares are trading higher by 4.63% at $223.72 in premarket on the last check Thursday.

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This article originally appeared on Benzinga.com

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