NEW YORK (TheStreet) -- Tractor Supply (TSCO) - Get Report stock is falling 6.75% to $88.75 in after-hours trading on Wednesday after the retailer revised its 2016 fiscal year guidance downward because of a weak second quarter.
The Brentwood, TN-based company lowered its earnings outlook to between $3.35 and $3.40 per share from $3.40 to $3.48 per share for the full year.
Revenue is expected to be between $6.8 billion and $6.9 billion, compared with the prior outlook of $6.9 billion to $7 billion. Comparable store sales are projected to rise between 2.5% and 3.5%, down from the 3.5% to 5% increase that the company had previously estimated.
For the 2016 second quarter, Tractor Supply expects to report earnings of $1.15 to $1.16 per share on revenue of $1.85 billion, below Wall Street estimates for earnings of $1.26 per share on revenue of $1.93 billion.
Comparable stores sales fell 0.5% for the quarter ended June 25 because of disappointing spring products sales and soft sales in the first two months of the quarter due to colder weather.
Tractor Supply will release its full quarterly results on July 20 after the market close.
Separately, Tractor Supply has a "buy" rating and a letter grade of B+ at TheStreet Ratings because of the company's revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.
You can view the full analysis from the report here: TSCO
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