Tractor Supply Co.’ stock TSCO rose 1.4% premarket Thursday, after the company posted weaker-than-expected second-quarter earnings and lowered guidance, while unveiling plans to open more stores in the U.S.. The Brentwood, Tenn.-based rural lifestyle retailer posted net income of $421.2 million, or $3.83 a share, for the quarter, up from $396.5 million, or $3.53 a share, in the year-earlier period. Sales rose 7.2% to $4.18 billion. The FactSet consensus was for EPS of $3.92 and sales of $4.
53 a share, in the year-earlier period. Sales rose 7.2% to $4.18 billion. The FactSet consensus was for EPS of $3.92 and sales of $4.26 billion. “As has been well documented, U.S. consumer spending on goods is moderating,” Chief Executive Hal Lawton said in a statement. “Additionally, our business was further impacted by seasonal underperformance, particularly in June.” The company lowered its full-year guidance and said it now expects sales to range from $14.8 billion to $14.
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Don't buy Tractor Supply's stock ahead of likely earnings miss, BofA warnsTractor Supply stock fell Tuesday after BofA Securities downgraded it two days before the farm- and ranch-products retailer reports quarterly results.
Lees verder »