Tractor Supply Q1 results beat Street forecasts

BRENTWOOD, Tenn. (AP) – Tractor Supply Co. (TSCO) on Thursday reported first-quarter profit of $83.8 million.

The Brentwood, Tennesee-based company said it had net income of 71 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The retailer for farmers and ranchers posted revenue of $1.96 billion in the period, matching Street forecasts.

Tractor Supply shares have climbed 2% since the beginning of the year, while the Standard & Poor’s 500 index has declined 13%. The stock has declined 6% in the last 12 months.