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- Tractor Supply Co TSCO reported first-quarter FY23 sales growth of 9.1% year-on-year to $3.30 billion, missing the consensus of $3.32 billion.
- Comparable store sales increased by 2.1%, driven by comparable average ticket growth of 2.8% and comparable average transaction count decrease of 0.7%.
- EPS of $1.65 missed the Wall Street view of $1.71.
- Gross profit increased 10.7% Y/Y to $1.17 billion, and the gross margin expanded 52 basis points to 35.5%.
- The operating margin was 7.41%, and operating income for the quarter was $244.4 million.
- Tractor Supply held $190.1 million in cash and equivalents as of April 1, 2023. Net cash provided by operating activities for Q1 totaled $19.5 million.
- Outlook: Tractor Supply reaffirms FY23 sales outlook of $15.0 billion - $15.3 billion versus the Street view of $15.23 billion.
- The company expects FY23 EPS of $10.30 - $10.60 against the consensus of $10.51.
- It expects comparable store sales growth of 3.5% - 5.5%.
- Price Action: TSCO shares are trading lower by 1.02% at $240.72 on the last check Thursday.
- Photo Via Company
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