Why Rural Goods Retailer Tractor Supply's Stock Is Sliding Today
Portfolio Pulse from Nabaparna Bhattacharya
Tractor Supply Company (NASDAQ:TSCO) reported Q3 FY23 sales growth of 4.3% YoY to $3.41 billion, missing the consensus of $3.47 billion. EPS of $2.33 beat the Wall Street view of $2.29. The company lowered its FY23 outlook, expecting adjusted EPS of $10.00-$10.10 versus the $10.22 estimate and revenue of $14.5 billion-$14.6 billion versus the $14.82 billion estimate. TSCO shares are trading lower by 5.68%.
October 26, 2023 | 1:55 pm
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Tractor Supply's Q3 FY23 sales missed expectations, but EPS beat estimates. The company lowered its FY23 outlook, leading to a drop in share price.
Tractor Supply's Q3 sales fell short of expectations, which is a negative signal to investors. However, the company's EPS beat estimates, which is a positive signal. The company's lowered outlook for FY23 is likely the main driver behind the drop in share price, as it suggests that the company expects weaker performance in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100