On October 22, 2009
Country Crafty Tractor Supply Surprises Wall Street
Edibles and animals kept Tractor Supply Co. earnings strong in the third quarter but comparable store sales flagged due circumstances that, for once, didn’t revolve around the recession. Net sales for the third quarter gained about two percent to $748 million, but comparable store sales decreased by five percent. In contrast, net income in the third quarter increased by almost 39 percent to $22 million, or 60 cents per diluted share, compared to $16 million, or 43 cents per diluted share, in the year earlier period. Wedbush Morgan analyst Joan Storms pointed out that profits were at the high end of an Oct. 8 company pre-announcement for third quarter earnings per share of 58 to 60 cents, and well above…
0 Comments