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Msg  39 of 42  at  1/28/2022 7:35:06 PM  by

jerrykrause


Tractor Supply Co. shares higher premarket after sales beat, upbeat guidance and raised dividend

 

MarketWatch

 
 

Tractor Supply Co. shares higher premarket after sales beat, upbeat guidance and raised dividend

By
investing- and corporate-news editor 
 
 
Tractor Supply Co. shares TSCO, +2.67% rose 1.9% premarket Thursday, after the retailer of agricultural goods and equipment beat sales estimates for the fourth quarter, offered guidance that was above consensus and unveiled returns for shareholders. Brentwood, Tenn.-based Tractor Supply posted net income of $221.3 million, or $1.93 a share, for the quarter, up from $135.9 million, or $1.15 a share, in the year-earlier period. Sales rose 15.3% to $3.32 billion from $2.88 billion.
 
The FactSet consensus was for EPS of $1.85 and sales of $3.23 billion. Chief Executive Hal Lawton said the company set a record for the full year of 021 and the business is now "substantially stronger than before the pandemic." The company is now expecting fiscal 2022 EPS of $9.20 to $9.50 and sales of $13.6 billion to $13.8 billon. The FactSet consensus is for EPS of $8.80 and sales of $13.3 billion.
 
The company is raising its quarterly dividend by 77% to 92 cents a share, to be payable March 8 to shareholders of record as of Feb. 21. Its board has approved an additional $2 billion to be added to its share buyback authorization.
 
Shares have gained 35% in the last 12 months, while the S&P 500 SPX, +2.43% has gained 13%. 


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