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May 26, 2020, 4:36 p.m. EDT

Tractor Supply stock jumps after company forecasts 'record-breaking' sales, profit

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By Claudia Assis

TSCO

Shares of Tractor Supply Co. /zigman2/quotes/202009274/composite TSCO +3.01% rose more than 5% in the extended session Tuesday after the company said it expects "record-breaking sales and earnings" for its second quarter. That jump in sales is across channels, product categories, and geographic regions, the company said, with online buying experiencing "substantial growth." Tractor Supply forecast sales growth between 24% and 29% and same-store growth between 20% and 25%. Gross profit "continues to be strong with gross margin expansion anticipated for the second quarter," it said. Second-quarter operating expenses related to the coronavirus pandemic are estimated to be at the high end of the company's previous guidance range of between $30 million and $50 million, Tractor Supply said. Per-share earnings were seen in a range between $2.45 and $2.65. The company is slated to report second-quarter earnings on July 23. The outlook "demonstrates the potential for Tractor Supply to emerge stronger than before as we continue to gain market share and build our business for the future," Chief Executive Hal Lawton said in a statement. Tractor Supply ended the regular trading day down 0.6%.

/zigman2/quotes/202009274/composite
US : U.S.: Nasdaq
$ 139.66
+4.08 +3.01%
Volume: 921,139
July 14, 2020 4:00p
P/E Ratio
29.44
Dividend Yield
1.00%
Market Cap
$15.68 billion
Rev. per Employee
$259,379
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