Tractor Supply Co. TSCO, +1.20% reported Thursday fourth-quarter profit, sales and same-store sales beats, provided an upbeat full-year outlook and raised its dividend by 30%, as the COVID-19 pandemic continued to have a positive impact on consumer demand, particularly in products that focused on home, land and animal care. The rural lifestyle retailer’s stock was still inactive in premarket trading. Net income fell to $135.9 million, or $1.15 a share, from $144.2 million, or $1.21 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.64 beat the FactSet consensus of $1.52. Sales rose 31.3% to $2.88 billion, above the FactSet consensus of $2.72 billion, while same-store sales growth of 27.3% beat expectations of a 20.4% rise. The company said it expects 2021 sales of $10.7 billion to $11.0 billion, above the current FactSet consensus of $10.5 billion. The company raised its quarterly dividend to 52 cents a share from 40 cents, with the new dividend payable March 9 to shareholders of record on Feb. 22. The stock has advanced 16.0% over the past three months, while the S&P 500 SPX, -2.57% has gained 14.7%.
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