In a financial outlook, Tractor Supply Co. stated that it is currently forecasting second-quarter net sales growth of 8% and comparable sales growth of 5% versus the year-prior period as well as diluted earnings per share of $3.48 or greater.
If they come in as expected, sales and profits will set second-quarter records, Tractor Supply noted. The company plans to release its full second-quarter financial results before the market opens on Thursday, July 21.
Tractor Supply has been on a roll lately. In April, the company announced that it had made Forbes’ list of Best Employers for Diversity 2022. Days earlier, Tractor Supply reported that it had beaten Wall Street first-quarter financial estimates as it posted solid comp and earnings gains. The company already surpassed 2,000 stores in December 2021 and said it would open 75 to 80 additional locations in 2022.
“As we moved through April and the weather has normalized, we have experienced strong sales of our seasonal products,” said Hal Lawton, Tractor Supply’s president and CEO. “The strength of our needs-based, demand-driven business continues as the team is effectively managing inventory levels, inflationary costs, and pressures across the global supply chain. We believe we are well-positioned to have a strong second quarter. When our customers need solutions for their Out Here lifestyle, they think of Tractor Supply. We continue to look for ways to better serve our customers through an ever-expanding product offering like our garden centers or the personalization of how our customers interact with us digitally. We have successfully completed over 200 garden centers at our stores, and our customers’ early response has been very exciting. The upcoming addition of the ‘My Pet’ mobile app personalization will allow us to offer a differentiated digital shopping experience across the 3 million-plus app downloads. These initiatives are great examples of how we are able to continue to capture growth opportunities ahead of us.”
