Tractor Supply Co. surges after hiking its 2Q profit estimate - Elizabeth Harrow

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Tractor Supply Co. surges after hiking its 2Q profit estimate
Jul 08, 2009 04:50 PM UTC

Elizabeth Harrow

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Filed under: Forecasts, Good news

Tractor Supply Company (NASDAQ: TSCO) is on the upswing today after the retailer raised its second-quarter profit estimate. The company now expects to earn $1.48 to $1.50 per share in the second quarter, compared to analysts' consensus forecast for a profit of $1.24 per share. Full-year earnings are now expected to range between $2.78 and $2.92 per share, again outpacing Wall Street's average estimate of $2.64 per share.

Tractor Supply cited tighter control over its marketing expenses for the upwardly revised earnings guidance. However, the retail issue expects consumer spending trends to remain weak through the remainder of 2009, and accordingly trimmed its full-year revenue outlook. The company is now predicting sales of $3.15 billion to $3.25 billion for 2009, down from its earlier guidance of $3.20 billion to $3.30 billion.

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Tractor Supply Co. surges after hiking its 2Q profit estimate originally appeared on BloggingStocks on Wed, 08 Jul 2009 11:50:00 EST. Please see our terms for use of feeds.

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