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Tractor Supply fiscal Q1 profit climbs 17.5% YOY

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Tractor Supply fiscal Q1 profit climbs 17.5% YOY

Tractor Supply Co. said its normalized net income for the fiscal first quarter ended March 28 amounted to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS climbed 20.3% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $57.5 million, a gain of 17.5% from $48.9 million in the year-earlier period.

The normalized profit margin rose to 4.3% from 4.1% in the year-earlier period.

Total revenue increased 12.5% year over year to $1.33 billion from $1.18 billion, and total operating expenses increased 12.1% from the prior-year period to $1.24 billion from $1.10 billion.

Reported net income rose 17.2% on an annual basis to $57.8 million, or 42 cents per share, from $49.4 million, or 35 cents per share.