Tractor Supply Co. Gaps Higher After Strong Guidance (TSCO)

Shares of Tractor Supply Co. (NASDAQ: TSCO) have moved 7.29% higher to $65.96 after the company issued better than expected Q1 guidance. Tractor Supply (TSCO) said that it expects first quarter earnings of $0.22 to $0.24 per share on revenues of approximately $710.9 million. The numbers caught the Street by surprise, as analysts had been estimating the company would earn $0.01 per share on revenues of $690.4 million for the quarter ending March 31, 2010.

TSCO also announced that it expects full year 2010 earnings of $3.48 to $3.60 per share on revenue of $3.44 billion to $3.50 billion. This compares to the company's previous guidance of $3.30 to $3.42 per share on revenue of $3.42 to $3.48 billion. Current Wall Street FY10 estimates are set at $3.38 per share on revenues of $3.47 billion.