Tractor Supply Shares Continue Lower as FY14 Guidance Weighs
Shares of Tractor Supply Co. (NASDAQ: TSCO) are trading down in Wednesday's post-market session amid favorable fourth quarter results but guidance which seems to be concerning to investors.
The company reported growth on both the top and bottom lines and showed a 3.5 percent increase in same-store sales. Earnings came in at $0.68 per share on sales of $1.42 billion. Analysts had been expecting EPS of $0.65 on sales of $1.43 billion.
Tractor Supply said it will be looking for FY14 sales in the range of $5.62 to $5.7 billion, below the analyst consensus estimate of $5.72 billion. Earnings are expected to be in the range of $2.54 to $2.62, compared to the analyst estimate of $2.67. The company said it is anticipating comparable-store sales up 2.5% to 4% and an increase in capex, from $240M to $250M.
The company's stock was down approximately 2.4 percent to $69 at the end of the day's session; shares down another 6 percent to $64.90 at last check.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.