The resilient rural lifestyle retailer dominates its space and has a lot of room to grow. With the S&P 500 hitting record highs this week, it's becoming increasingly difficult to find attractive stocks to buy. Many stocks simply look either fully valued or overvalued. But a close look reveals that there are still some stocks worth buying -- even after their recent run-up. One stock that still looks attractive despite already rising 15% this year is Tractor Supply (TSCO 0.09%). Sure, the dividend-paying stoc ...

REDMOND, Ore., May 16, 2024 (GLOBE NEWSWIRE) -- Expion360 Inc. (NASDAQ:XPON) ("Expion360" or the "Company"), an industry leader in lithium-ion battery power storage solutions, announced a new e- commerce retail partnership with Tractor Supply Company ("Tractor Supply"), the largest rural lifestyle retailer in the United States, to offer Expion360 products online for shipment to customers in 49 states. For more than 85 years, Tractor Supply has been passionate about serving the needs of recreational farmers, ...

Tractor Supply Company (TSCO) has reported first-quarter 2024 results, wherein the bottom line beat the Zacks Consensus Estimate while sales marginally lagged the same. Both metrics increased year over year. Results benefited from higher comparable store sales (comps) performance and new store openings.Tractor Supply’s earnings of $1.83 per share surpassed the Zacks Consensus Estimate of $1.70. In the year-earlier quarter, the company reported earnings of $1.65 per share, up 10.9% year over year.Net sales g ...

Financial Performance - Net sales increased by 2.9%[18], reaching $3.4 billion[18] - CUE performance aligned with overall company results at 1.1%[6] - Gross margin expanded by 50 bps to 35.5%[19] in Q1 2024 compared to 28.2%[19] in Q1 2023 - Operating margin increased by 34 bps from 7.4%[8] in Q1 2023 to 7.8%[8] in Q1 2024 - Net income grew by 8.2%[8], from $183 million[8] in Q1 2023 to $198 million[8] in Q1 2024 - Diluted EPS increased by 10.9%[8], from $1.65[8] in Q1 2023 to $1.83[8] in Q1 2024 Expenses - SG&A expenses as a percentage of net sales experienced 16 bps of deleverage[7], with the percentage for Q1 2024 being 36.0%[7] Guidance - The company reiterated its 2024 guidance for comparable store sales, projecting a range of (1.0%) to +1.5%[22] - The company reiterated its 2024 guidance for diluted earnings per share, projecting a range of $9.85 to $10.50[22] Other Updates - Continued construction on the 10th and largest distribution center in Maumelle, AR[20]

Financial Data and Key Metrics Changes - The company reported a net sales growth of 2.9% and comparable store sales growth of 1.1% in the first quarter [132] - Diluted earnings per share increased by 10.9% to $1.83, with net income rising by 8.2% [114][132] - Gross margin rate improved by 50 basis points to 36%, driven by lower transportation costs and disciplined product cost management [142] Business Line Data and Key Metrics Changes - Big ticket categories showed positive growth after nearly two years of pressure, with broad-based strength across seasonal categories [7][22] - Digital sales returned to double-digit growth, with increased visits and improved conversion rates [7] - The Neighbor's Club program continues to represent the majority of sales, with enhancements leading to positive customer engagement [88][89] Market Data and Key Metrics Changes - The company experienced positive migration trends to rural markets, with rural America gaining population in 2023 [2][84] - Average unit retail was impacted by modest product deflation of about 1%, but unit growth and share gains were encouraging [10] - The company maintains a market share of about 20% in bagged livestock feed, consistently outperforming the market [107] Company Strategy and Development Direction - The company is focused on its "Life Out Here" strategic priorities, which are on track and delivering expected results [149] - There is a commitment to enhancing customer service and leveraging technology, such as Tractor Vision, to improve operational efficiency [17][152] - The company plans to open its tenth distribution center, which is expected to enhance inventory positioning and reduce freight costs [137] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic environment, noting strong consumer spending despite inflation concerns [84][102] - The company anticipates continued strength in big ticket and seasonal sales, with expectations for second quarter comparable sales in line with full year outlook [116] - Management highlighted that the transition from inflation to disinflation is progressing as anticipated, with no additional downward pressures expected [103] Other Important Information - The company repurchased approximately 0.5 million shares and paid quarterly cash dividends totaling $118.8 million, marking the 15th consecutive year of dividend growth [12] - The company is committed to maintaining high in-stock levels and a healthy balance sheet, with a leverage ratio of around 2 times [13] Q&A Session Summary Question: Can you discuss the big ticket improvement? - Management noted that big ticket sales improved significantly, particularly in categories like riding lawn mowers and outdoor power equipment, with a positive trend continuing into Q2 [22][183] Question: How is the pet food category performing? - Management acknowledged a slowdown in the pet food category due to moderation in pet ownership and stagnant pricing, but remains optimistic about long-term growth [90][61] Question: What are the expectations for gross margin in the back half of the year? - Management indicated that while gross margin expansion is expected to continue, the second half may face tougher comparisons due to previous inflationary benefits [171][147] Question: How is the Neighbor's Club program performing? - Management reported strong engagement and growth in the Neighbor's Club program, with recent changes leading to positive customer responses [168][196] Question: What are the expectations for the second quarter? - Management expects the second quarter to be similar to the first, with continued strength in big ticket and seasonal categories [194][165]

For the quarter ended March 2024, Tractor Supply (TSCO) reported revenue of $3.39 billion, up 2.9% over the same period last year. EPS came in at $1.83, compared to $1.65 in the year-ago quarter.The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $3.4 billion. With the consensus EPS estimate being $1.70, the EPS surprise was +7.65%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

Tractor Supply (TSCO) came out with quarterly earnings of $1.83 per share, beating the Zacks Consensus Estimate of $1.70 per share. This compares to earnings of $1.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.65%. A quarter ago, it was expected that this retailer for farmers and ranchers would post earnings of $2.22 per share when it actually produced earnings of $2.28, delivering a surprise of 2.70%.Over the last four ...

[First Quarter 2024 Financial Highlights](index=1&type=section&id=First%20Quarter%202024%20Financial%20Highlights) [Executive Summary](index=1&type=section&id=Executive%20Summary) Tractor Supply achieved expected Q1 2024 results with comparable store sales growth and strong earnings, demonstrating market share gains and confidence in the full-year outlook - Q1 2024 performance met expectations, with **positive comparable store sales growth** and **strong profitability**[2](index=2&type=chunk) - Business showed positive signs this quarter, including **continued market share gains**, **increased transaction count**, and **strong sales of big-ticket items**[2](index=2&type=chunk) - The company remains confident in its full-year 2024 outlook, citing a **healthy and active customer base**[2](index=2&type=chunk) [Key Financial Performance Indicators](index=1&type=section&id=Key%20Financial%20Performance%20Indicators) Q1 2024 net sales grew 2.9% to $3.39 billion, comparable store sales increased 1.1%, gross margin improved 50 bps to 36.0%, and diluted EPS rose 10.9% to $1.83 Key Financial Performance Indicators | Metric | Q1 2024 | Q1 2023 | YoY Change | | :-------------------------------- | :---------- | :---------- | :----------- | | Net Sales | $3.39 billion | $3.30 billion | +2.9% | | Comparable Store Sales Growth | +1.1% | +2.1% | -1.0 pp | | Gross Profit | $1.22 billion | $1.17 billion | +4.4% | | Gross Margin | 36.0% | 35.5% | +50 bps | | Selling, General & Administrative Expenses (SG&A) | $957.7 million | $925.5 million | +3.5% | | SG&A as % of Net Sales | 28.2% | 28.1% | +16 bps | | Operating Income | $263.1 million | $244.4 million | +7.6% | | Effective Income Tax Rate | 21.1% | 21.0% | +0.1 pp | | Net Income | $198.2 million | $183.1 million | +8.2% | | Diluted Earnings Per Share (EPS) | $1.83 | $1.65 | +10.9% | - Comparable store sales growth was primarily driven by a **1.3% increase in comparable average transaction count**, partially offset by a **0.2% decrease in comparable average ticket**[3](index=3&type=chunk) - Gross margin improvement was mainly attributed to **continuously lower transportation costs**, **disciplined product cost management**, and the **ongoing execution of everyday low-price strategies**[4](index=4&type=chunk) - The company repurchased approximately **0.5 million shares** of common stock for **$117.4 million** and paid **$118.8 million** in quarterly cash dividends, returning a total of **$236.2 million** to shareholders in Q1[9](index=9&type=chunk) [Fiscal Year 2024 Financial Outlook](index=2&type=section&id=Fiscal%20Year%202024%20Financial%20Outlook) Tractor Supply reaffirms FY2024 guidance with net sales projected between $14.7 billion and $15.1 billion, comparable store sales growth of -1.0% to +1.5%, and diluted EPS of $9.85 to $10.50 Fiscal Year 2024 Financial Outlook | Metric | Range | | :-------------------- | :-------------------- | | Net Sales | $14.7 billion to $15.1 billion | | Comparable Store Sales | (1.0%) to +1.5% | | Operating Margin | 9.7% to 10.1% | | Net Income | $1.06 billion to $1.13 billion | | Diluted Earnings Per Share | $9.85 to $10.50 | - 2024 capital plans include opening approximately **80 new Tractor Supply stores**, continuing Project Fusion remodels and garden center transformations, opening the company's **10th distribution center**, and opening **10 to 15 new Petsense by Tractor Supply stores**[11](index=11&type=chunk) [Detailed Financial Statements](index=5&type=section&id=Detailed%20Financial%20Statements) [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) Q1 2024 net sales reached $3.39 billion, gross profit was $1.22 billion (35.96% margin), operating income $263.1 million, net income $198.2 million, and diluted EPS $1.83 Consolidated Statements of Income | Metric | March 30, 2024 (Thousands of USD) | % of Net Sales | April 1, 2023 (Thousands of USD) | % of Net Sales | | :----------------------------------- | :------------- | :------------- | :------------ | :------------- | | Net Sales | 3,394,834 | 100.00% | 3,299,225 | 100.00% | | Cost of Merchandise Sold | 2,173,980 | 64.04% | 2,129,317 | 64.54% | | Gross Profit | 1,220,854 | 35.96% | 1,169,908 | 35.46% | | Selling, General & Administrative Expenses | 853,436 | 25.14% | 828,235 | 25.10% | | Depreciation and Amortization | 104,293 | 3.07% | 97,233 | 2.95% | | Operating Income | 263,125 | 7.75% | 244,440 | 7.41% | | Interest Expense, Net | 11,902 | 0.35% | 12,680 | 0.38% | | Income Before Income Taxes | 251,223 | 7.40% | 231,760 | 7.03% | | Income Tax Expense | 53,056 | 1.56% | 48,672 | 1.48% | | Net Income | 198,167 | 5.84% | 183,088 | 5.55% | | Diluted Earnings Per Share | 1.83 | | 1.65 | | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Q1 2024 total comprehensive income was $197.4 million, slightly below net income due to negative fair value changes in interest rate swaps Consolidated Statements of Comprehensive Income | Metric | March 30, 2024 (Thousands of USD) | April 1, 2023 (Thousands of USD) | | :------------------------------------------ | :------------- | :------------ | | Net Income | 198,167 | 183,088 | | Change in Fair Value of Interest Rate Swaps, Net of Tax | (731) | (1,837) | | Total Comprehensive Income | 197,436 | 181,251 | [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) As of March 30, 2024, total assets increased to $9.55 billion, driven by property, equipment, ROU assets, and inventory, with total liabilities at $7.43 billion and equity at $2.12 billion Consolidated Balance Sheets | Metric | March 30, 2024 (Thousands of USD) | April 1, 2023 (Thousands of USD) | | :-------------------------------- | :--------------------- | :-------------------- | | Cash and Cash Equivalents | 264,085 | 190,078 | | Inventories | 3,048,719 | 3,030,712 | | Total Current Assets | 3,519,484 | 3,458,921 | | Property and Equipment, Net | 2,496,948 | 2,144,769 | | Operating Lease Right-of-Use Assets | 3,188,973 | 2,950,610 | | Total Assets | 9,554,954 | 8,848,815 | | Total Current Liabilities | 2,517,755 | 2,349,700 | | Long-Term Debt | 1,729,715 | 1,601,563 | | Total Liabilities | 7,430,943 | 6,934,269 | | Total Stockholders' Equity | 2,124,011 | 1,914,546 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 net cash from operating activities significantly increased to $257.4 million, with investing activities using $152.3 million and financing activities using $238.1 million for buybacks and dividends Consolidated Statements of Cash Flows | Metric | March 30, 2024 (Thousands of USD) | April 1, 2023 (Thousands of USD) | | :------------------------------------ | :--------------------- | :-------------------- | | Net Cash Provided by Operating Activities | 257,408 | 19,554 | | Net Cash Used in Investing Activities | (152,256) | (157,684) | | Net Cash (Used in)/Provided by Financing Activities | (238,138) | 125,706 | | Net Decrease in Cash and Cash Equivalents | (132,986) | (12,424) | | Cash and Cash Equivalents, End of Period | 264,085 | 190,078 | - The significant increase in operating cash flow was primarily driven by an increase in accounts payable, reaching **$335.9 million** in Q1 2024 compared to **$128.3 million** in Q1 2023[25](index=25&type=chunk) - Capital expenditures in Q1 2024 were **$157.2 million**, largely consistent with **$157.9 million** in Q1 2023[25](index=25&type=chunk) [Operational and Store Information](index=2&type=section&id=Operational%20and%20Store%20Information) [Company Profile and Store Network](index=3&type=section&id=Company%20Profile%20and%20Store%20Network) Tractor Supply is the largest rural lifestyle retailer in the US, operating 2,233 Tractor Supply stores across 49 states and 202 Petsense stores in 23 states as of March 30, 2024 - Tractor Supply is the **largest rural lifestyle retailer in the U.S.**, serving a broad customer base including hobby farmers, ranchers, homeowners, gardeners, and pet owners[14](index=14&type=chunk) Store Network | Store Type | Number of Stores (as of March 30, 2024) | States Covered | | :------------------------ | :-------------------------- | :------- | | Tractor Supply | 2,233 | 49 | | Petsense by Tractor Supply | 202 | 23 | | **Consolidated Total** | **2,435** | | [Store Openings and Capital Allocation](index=2&type=section&id=Store%20Openings%20and%20Capital%20Allocation) In Q1 2024, Tractor Supply opened 17 new Tractor Supply stores and 4 Petsense stores, with capital expenditures totaling $157.2 million primarily for new stores, remodels, and IT New Store Openings | Store Type | New Store Openings (Q1 2024) | | :------------------------ | :-------------------------- | | Tractor Supply | 17 | | Petsense by Tractor Supply | 4 | Capital Expenditures | Category | March 30, 2024 (Millions of USD) | April 1, 2023 (Millions of USD) | | :------------------------------------------ | :------------------------ | :----------------------- | | New, Relocated, and Not Yet Opened Stores | 61.7 | 33.2 | | Existing Stores | 57.8 | 83.0 | | Information Technology | 24.4 | 21.9 | | Distribution Center Capacity and Improvements | 13.1 | 19.6 | | Corporate and Other | 0.2 | 0.2 | | **Total** | **157.2** | **157.9** | [Selected Operating Metrics](index=9&type=section&id=Selected%20Operating%20Metrics) Q1 2024 comparable store sales grew 1.1%, driven by a 1.3% increase in comparable average transaction count, partially offset by a 0.2% decrease in average ticket Selected Operating Metrics | Metric | March 30, 2024 | April 1, 2023 | | :------------------------------------------ | :------------- | :------------ | | Comparable Store Sales Growth | 1.1% | 2.1% | | New Store Sales (% of Total Sales) | 1.8% | 4.3% | | Average Transaction Value | $58.66 | $58.92 | | Comparable Store Average Transaction Value (Decrease)/Increase | (0.2)% | 2.8% | | Comparable Store Average Transaction Count (Decrease)/Increase | 1.3% | (0.7)% | | Total Selling Square Footage (Thousands) | 38,136 | 37,532 | | Exclusive Brands (% of Total Sales) | 29.7% | 31.1% | | Imported Merchandise (% of Total Sales) | 11.4% | 11.0% | | Average Inventory Per Store (Thousands of USD) | $1,184.0 | $1,229.8 | | Inventory Turnover (Annualized) | 3.13 | 3.14 | - In Q1 2024, stock repurchase costs totaled **$118.5 million**, with an average repurchase price of **$236.57 per share**[27](index=27&type=chunk) [Additional Information](index=2&type=section&id=Additional%20Information) [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Tractor Supply Company held a conference call on April 25, 2024, at 10 AM ET, with webcast and investor presentation available on IR.TractorSupply.com and replay provided - The conference call was held on **April 25, 2024, at 10:00 AM ET**[12](index=12&type=chunk) - A webcast and investor presentation are available on **IR.TractorSupply.com**, with a replay provided after the call[12](index=12&type=chunk)[13](index=13&type=chunk) [Forward-Looking Statements Disclaimer](index=4&type=section&id=Forward-Looking%20Statements%20Disclaimer) This release contains forward-looking statements subject to risks and uncertainties, where actual results may differ materially from expectations, as detailed in SEC filings - Forward-looking statements are subject to **risks and uncertainties**, where actual results may differ materially from expectations[16](index=16&type=chunk) - Readers should exercise caution with these forward-looking statements, as they are valid only as of the date of their release[16](index=16&type=chunk) - The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances after the release date, unless required by law[16](index=16&type=chunk)

Tractor Supply Co (NASDAQ: TSCO) is trading up in premarket on Thursday after coming in ahead of Street estimates for per-share earnings in its first financial quarter. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Here’s what $TSCO expects for its fiscal 2024Copy link to sectionThe chain of retail stores did somewhat impress in terms of guidance as well that’s adding to the upward pressure on its stock at writing. Tractor Supply forecasts its net s ...

Tractor Supply Company (TSCO) is likely to register an increase in the top and bottom lines when it reports first-quarter 2024 results on Apr 25, before market open. The Zacks Consensus Estimate for revenues is pegged at $3.40 billion, indicating a 3% jump from the year-ago reported figure.The bottom line of the largest rural lifestyle retailer in the United States is expected to have risen year over year. The Zacks Consensus Estimate for earnings per share for the first quarter has remained stable at $1.70 ...