Tractor Supply Raises Lower End Of Annual Guidance For Sales, Earnings; To Acquire Allivet

(RTTNews) - (Adds Outlook, Allivet acquisition)

Tractor Supply Company (TSCO) said, for fiscal 2024, the company now expects earnings per share in a range of $10.10 to $10.40, revised from prior guidance range of $10.00 to $10.40. Net sales are now expected to be in a range of $14.85 billion to $15.0 billion, revised from prior guidance range of $14.8 billion to $15.0 billion.

Tractor Supply Company also announced it has signed a definitive agreement to acquire Allivet, a privately held online pet pharmacy. The acquisition will allow the company to introduce a low-cost pet and animal pharmacy solution for its Neighbor's Club members.

Q3 Results:

Bottom line totaled $241.47 million, or $2.24 per share. This compares with $255.00 million, or $2.33 per share, in last year's third quarter. Analysts on average had expected the company to earn $2.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Revenue rose 1.7% to $3.47 billion from $3.41 billion last year. Comparable store sales declined 0.2%.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.