Executive Summary

• Tractor Supply reported 3Q18 earnings per share (EPS) of $0.95, up 31.4% from a year ago and beating the consensus estimate of $0.87. Revenues were $1.88 billion, up 9.3% year over year and beating the $1.83 billion consensus estimate.
• Comps increased 5.1%, beating the 1.9% consensus estimate.
• The company raised 2018 guidance across the board, for: revenues of $7.84–$7.87 billion versus $7.77–$7.80 billion previously; comps of 4.0%–4.5% versus 3.0%–3.5% previously; and EPS of $4.23–$4.27 versus $4.10–$4.20 previously.