Why Tractor Supply Company Shares Are Falling After Q1 Earnings
Portfolio Pulse from Nabaparna Bhattacharya
Tractor Supply Company (NASDAQ:TSCO) shares fell despite Q1 earnings per share of $1.83 beating estimates of $1.71 and revenues of $3.395 billion aligning with expectations. The decline was possibly due to the slower growth in comparable store sales, which increased by 1.1% compared to 2.1% in the previous year. The company also reiterated its FY24 outlook, expecting GAAP EPS of $9.85-10.50 and sales of $14.700 billion-15.100 billion.
April 25, 2024 | 2:49 pm
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Tractor Supply Company's stock fell after reporting Q1 earnings that beat estimates but showed slower growth in comparable store sales. The company also reaffirmed its full-year outlook.
The decline in TSCO shares, despite beating earnings estimates, is likely due to investors' concerns over the slower growth in comparable store sales, which is a key indicator of a retailer's health. Additionally, the reiteration of the FY24 outlook without raising guidance may have been interpreted as a lack of confidence in significant growth acceleration.
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