Tractor Supply stock jumps after strong guidance update

Tractor Supply Company (TSCO.US)— shares jumped over 5% in extended trading after the company provided its financial outlook for the second quarter of 2020. Company expects sales growth between 24% and 29% and same-store growth between 20% and 25%. The farm supplies retailer’s says gross profit performance continues to be strong with gross margin expansion anticipated for the quarter. Net incremental operating expenses related to the COVID-19 pandemic are estimated to be at the high end of the company’s previous guidance range of $30M to $50M. EPS of $2.45 to $2.65 is anticipated vs. $1.77 consensus.

The company is planning to implement new technology and services while capitalizing on its product categories and convenient shopping format.

Tractor Supply Company (TSCO.US) shares are up 47% since mid- March, the best gain of any retail stock in the S&P 500. Source: xStation5

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