Tractor Supply Net Sales Miss Estimates In Q3, Confirms Allivet Acquisition

Tractor Supply Company (NASDAQ:TSCO) shares are trading lower in the premarket session after the company reported third-quarter results.

Quarterly earnings per share of $2.24, in line with the analyst consensus. Third-quarter net sales of $3.47 billion (+1.6%) missed the street view of $3.485 billion. The increase in net sales was driven by new store openings.

Comparable store sales declined 0.2% yearly, driven by a comparable average transaction count increase of 0.3%, offset by a comparable average ticket decrease of 0.5%.

Gross profit increased 3.2% to $1.29 billion, and gross margin increased 56 basis points to 37.2% from 36.7% in the prior year’s third quarter.

The gross margin rate increase was primarily attributable ...