Tractor Supply Company Reports Q2 Beat, Provides Guidance


Tractor Supply Company (NASDAQ:TSCO) reported its Q2 earnings results, with an EPS of $3.53 coming in better than the Street estimate of $3.50. Revenue was $3.9 billion, slightly above the Street estimate of $3.88 billion.
The company continues to execute strongly with comps up 5.5% (vs. Street’s 5.2% and guidance of 5%) and operating margins of 13.5% or flat year-over-year (vs. Street’s 13.4%).
Q2 sales started off slow due to pressure from cycling stimulus-fueled spending in the prior year period and a delayed start to the spring season. As the weather improved, so did sales in May, the company’s strongest month, with a modest deceleration in June but still above the chain average comp for Q2 despite drought-like conditions that pressured sales and continued to do so in July.
The company expects Q3/22 EPS to be in the range of $9.48-$9.60, compared to the Street estimate of $9.58, and revenue in the range of $13.95-14.05 billion, compared to the Street estimate of $13.88 billion.


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