Tractor Supply Co. stock rose 6.7% in Thursday premarket trading after the rural lifestyle retailer reported a first-quarter earnings beat and raised its fiscal 2021 guidance. Net income totaled $181.4 million, or $1.55 per share, more than double the $83.8 million, or 71 cents per share, the company reported last year. Sales of $2.79 billion were up from $1.96 billion last year. The FactSet consensus was for EPS of 98 cents and sales of $2.47 billion. Comparable sales were up 38.6%, also ahead of the FactSet consensus for 23.5% growth. And digital sales grew triple digits. Tractor Supply Chief Executive Hal Lawton called it a “record performance” and announced a rise in full-year guidance. Tractor Supply now expects 2021 EPS of $7.05 to $7.40, up from previous guidance for $6.50 to $6.90. And sales are now expected to be $11.4 billion to $11.7 billion, up from $10.7 billion to $11.0 billion previously. The FactSet consensus is for full-year EPS of $6.79 and sales of $10.9 billion. Tractor Supply stock has rallied 28.2% for the year to date while the S&P 500 index is up 11.1% for the period.
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