Tractor Supply falls after Q3 sales miss estimates

Tractor Supply Co

24/10/2024 14:45

** Farming supplies retailer Tractor Supply's  TSCO.O 
shares down ~3% at $282.83
    ** Company misses quarterly sales estimates owing to
sluggish demand for its higher-margin goods including generators
and truck tools
    ** Posts Q3 sales of $3.47 bln vs est $3.49 bln - LSEG
    ** Reports decline in quarterly net income of 5.3% to $241
mln owing to higher expense from planned growth investments
    ** Expects annual sales to be in the range of $14.85 bln to
$15 bln, compared with prior forecast of $14.8 billion to $15
bln
    ** Sees annual earnings per shares to be between $10.10 and
$10.40 vs prior forecast of $10.00 to $10.40
    ** As of last close, stock up nearly 36% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))