Tractor Supply（TSCO）Q3营收/EPS双超预期但经营利润-10.2%、重申全年指引，盘前跌约4.9%——同一财报已多次处理的重复信号

Tractor Supply Company ( TSCO ) fell in early trading on Thursday as investors weighed the retailer's third-quarter earnings report. Sales increased 5.1% during the quarter to $3.91B. The increase in sales was driven by new store openings, the acquisition of VIP Petcare, and growth in comparable store sales. Comparable store sales increased 0.4% during the quarter, reflecting a 0.7% increase in comparable average ticket and a 0.3% decline in comparable average transaction count. Comparable store sales improved sequentially through the quarter, moving from negative in July to modestly positive in August to further strengthening in September. Results benefited from solid performance in seasonal categories, including wildlife supplies, equine & livestock, and truck, tool & hardware. Notably, the consumable, usable, and edible categories performed above the company average. Double-digit growth in digital sales also contributed to results. Those gains were partially offset by continued softness in big-ticket and companion animal categories. Gross profit increased 2.6% to $1.42B, while the gross margin rate fell by 100 basis points from a year ago to 36.4%. The decline was primarily attributable to higher transportation and fuel costs and incremental investments to strengthen the company's price-value position. Operating income decreased 10.2% to $307.7M. Non-GAAP EPS of $0.43 topped the consensus estimate of $0.41. "Our third quarter marked a step forward for Tractor Supply, with improved sales momentum and broader strength across our business. The actions we are taking around value, pet, digital, and convenience gained traction in the quarter," stated CEO Hal Lawton. Tractor Supply ( TSCO ) guided for full-year comparable sales growth of +2.5% to +3.5%. Full-year EPS of $1.90 to $2.00 (midpoint $1.95) is expected vs. $1.94 consensus. Shares of Tractor Supply ( TSCO ) were down 4.7% in the premarket session.