Tractor Supply (TSCO) rose 4% after hours following the release of a business update that showed revenue growing in the fourth quarter more than analysts had expected.
Tractor Supply said revenue rose to $1.24 billion from $1.03 billion in the prior year, ahead of analysts’ expectations for $1.20 billion.
The company also said its 2011 EPS would “range from $2.97 to $2.99 per diluted share compared to its previous guidance of $2.85 to $2.89 per diluted share.” Analaysts were expecting $2.91. Chairman and CEO Jim Wright said in a statement:
“While we are still in the early stages of the year-end financial closing process, we felt it was important to provide an update on expected results given such strong performance in the fourth quarter of 2011. These results are reflective of the structural improvements we have made to our business in recent years, including a focus on C.U.E. merchandise, improved inventory management and merchandise allocation and regionalization, all of which have continued to reduce our dependence on weather trends. Sales growth in the fourth quarter of 2011 was driven by continued strong transaction count and a year-over-year increase in average ticket, with added tailwinds from both the 53rd week and inflation. We are very pleased that we have maintained the momentum in our business and are confident in our ability to deliver continued profitable growth.”
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