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Jan. 27, 2022, 6:39 a.m. EST

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

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By Ciara Linnane

Tractor Supply Co. shares /zigman2/quotes/202009274/composite TSCO +0.98% 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 /zigman2/quotes/210599714/realtime SPX +2.02% has gained 13%.

/zigman2/quotes/202009274/composite
US : U.S.: Nasdaq
$ 207.62
+2.01 +0.98%
Volume: 1.08M
May 17, 2022 4:00p
P/E Ratio
23.83
Dividend Yield
1.77%
Market Cap
$23.00 billion
Rev. per Employee
$281,802
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/zigman2/quotes/210599714/realtime
US : S&P US
4,088.85
+80.84 +2.02%
Volume: 2.46B
May 17, 2022 4:54p
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