- Tractor Supply Co (NASDAQ:TSCO) reported third-quarter FY22 sales growth of 8.4% year-on-year to $3.27 billion, missing the consensus of $3.29 billion.
- Comparable store sales increased by 5.7%, driven by comparable average ticket growth of 7%.
- EPS of $2.10 topped the Wall Street view of $2.07.
- Gross profit increased 7.4% Y/Y to $1.17 billion, and the gross margin contracted 32 basis points to 35.6%.
- The operating margin was 9.4%, and operating income for the quarter rose 3.1% to $306.4 million.
- Tractor Supply held $211.2 million in cash and equivalents as of September 24, 2022. Net cash provided by operating activities for the nine months totaled $626.3 million.
- Outlook: Tractor Supply raised FY22 sales guidance to $14.06 billion – $14.12 billion (prior $13.95 billion – $14.05 billion), above the consensus of $14.01 billion.
- The company also raised its FY22 EPS outlook to $9.55 – $9.63 (previously $9.48 – $9.60) against the consensus of $9.59.
- It expects comparable store sales growth of 5.4% – 5.8% (prior view 5.2% – 5.8%).
- Price Action: TSCO shares are trading lower by 0.68% at $194.99 in premarket on the last check Thursday.
- Photo Via Company
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