Tractor Supply Co (TSCO) recently updated their quarterly outlook that included a sharp increase in sales. The news sent shares to all-time highs.
Company Description
Tractor Supply Co. operates over 900 farm and ranch stores across 44 states. The company caters to rural lifestyles and needs with everything from home decor and clothing to truck and equine products.
Sales Update
On Apr 7 Tractor Supply Co. reported first a quarter update that showed more than a 9% increase in sales to $711. The company estimates net income for the period will be between $8 million and $9 million. On year ago the company earned just $0.5 million.
Estimates Surge
On the release of the company’s update analysts began raising estimates. The Zacks Consensus Estimate for full-year 2010 is now $360, up 23 cents on 30 upward revisions.
Estimates for 2011 are averaging $4.02, up from $3.83. These new levels represent 14% and 12% earnings growth, respectively.
Upcoming Surprise?
Tractor Supply Co. is set to report official results on Apr 21. Currently the company boasts a streak of 7 consecutive earnings surprises.
The Chart
Shares of TSCO surged to all-time highs on the news. Below is a chart with a 5-year history of TSCO.
Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service Zacks Investment Research
