Investor Alert

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

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

Tractor Supply Co. shares (NAS:TSCO) 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 (S&P:SPX) has gained 13%.

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