Tracto r Supply (TSCO) shot higher in early trading on Thursday after topping estimates with its Q4 earnings report..

Total sales rose 21% during the quarter and comparable store sales increased 8.6%, driven by comparable average ticket growth of 6.3% and comparable average transaction count increase of 2.3%. Comparable store sales growth reflected continued strength in every day, needs-based merchandise, including consumable, usable and edible products, winter seasonal goods and year-round product categories. The winter storm in late December is estimated to have added two percentage points to comparable sales growth.

Gross margin increased 28 basis points to 34.0% of sales during the quarter. The gross margin rate increase was primarily attributable to TSCO’s price management actions and other margin driving initiatives that were able to offset the impact from year-over-year product cost inflation pressures, product mix from the robust growth of C.U.E. products and higher transportation costs.

Operating income increased 22.6% to $359M for Tractor Supply off the sales leverage.

For FY23, Tractor Supply (TSCO) sees sales of $15B to $15.3B vs. $15.11B consensus and EPS of $10.30 to $10.60 vs. $10.47 consensus.

Shares of Tractor Supply rose (TSCO) 2.42% in premarket trading to $219.00 following the earnings topper.