While reporting financial results for the second quarter on Monday, rural lifestyle retailer Tractor Supply Co. (TSCO) raised its earnings, net sales and comparable store sales guidance for the full-year 2021, based on its strong performance in the first half of 2021 and on what it can reasonably predict at this time.
Second-quarter comparable store sales increased 10.5 percent on top of 30.5 percent growth last year with a two-year stack of 41.0 percent.
For fiscal 2021, the company now projects earnings in a range of $7.70 to $8.00 per share on net sales between $12.1 billion and $12.3 billion, with comparable store sales growth of 11 to 13 percent.
Previously, the company expected earnings in a range of $7.05 to $7.40 per share on net sales between $11.4 billion and $11.7 billion, with comparable store sales growth of 5 to 8 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.38 per share on net sales growth of 9.6 percent to $11.64 billion for the year. Analysts' estimates typically exclude special items.
The company also expects share repurchases for fiscal 2020 to be in the range of $500 million to $600 million and new store growth of about 80 new Tractor Supply and 10 new Petsense store openings.
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