Tractor Supply expects 'record' Q2 results, higher sales

Tractor Supply Co. said late Monday it expects to report "record" second-quarter results when it next updates investors about quarterly earnings, saying that better weather and "strong' sales of seasonal products, among other factors, have boosted revenue. The retailer forecast second-quarter sales up 8% and same-store sales up 5% in the quarter as compared with the second quarter of fiscal 2021. It also called for per-share earnings of $3.48 "or greater," it said. "Tractor Supply is on track to deliver record results in the second quarter on both sales and earnings," Chief Executive Hal Lawton said in a statement. "As we moved through April and the weather has normalized, we have experienced strong sales of our seasonal products. The strength of our needs-based, demand-driven business continues as the team is effectively managing inventory levels, inflationary costs, and pressures across the global supply chain," Lawton said. Tractor Supply is slated to report second-quarter earnings before the bell on July 21, with a conference call with investors scheduled for 10 a.m. Eastern. FactSet consensus calls for EPS of $3.46 on sales of $3.9 billion, with same-store sales seen rising 4.5%. The stock was flat in the extended session Monday after ending the regular trading day up 2.4%.

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