Company Overview - Tractor Supply Company (TSCO) is a leading rural lifestyle retailer in the US, operating over 2,400 stores across 49 states, targeting customers such as recreational farm owners, ranchers, and pet owners [8] - The company offers more than 300,000 products, including livestock and equine feed, companion animal products, seasonal and recreational items, and hardware tools [11] - TSCO has a strong loyalty program, the Neighbor's Club, with over 34 million members, and sources 90% of its merchandise from 400 core vendors [5][12] Financial Performance - TSCO's net sales increased by 2.9% in Q1 2024, with comparable store sales rising by 1.1% and online sales growing by double-digits [19] - The company reiterated its 2024 guidance, expecting net sales of $14.7B to $15.1B and comparable store sales growth of -1% to +1.5% [21] - TSCO has a strong balance sheet with a 2024E net leverage ratio of less than 1x EBITDA and an investment-grade rating of BBB [27] Strategic Initiatives - TSCO is expanding its distribution network, with its tenth and largest distribution center in Maumelle, Arkansas, expected to improve store service levels and reduce freight costs [21] - The company uses sale-leaseback deals to free up capital for investments, with plans to continue this strategy for the next 7 to 10 years [29] - TSCO's loyalty program and supply chain advancements highlight its commitment to customer satisfaction and future growth [5] Shareholder Value - TSCO has returned 42% since October 2023 and has a ten-year return of 409%, significantly outperforming the S&P 500 [3][6] - The company has consistently increased its dividend, with a 6.8% hike in Q1 2024, marking its 15th consecutive annual increase [23] - TSCO has bought back more than a fifth of its shares over the past decade, contributing to its impressive stock price performance [25] Market Position and Trends - TSCO benefits from the post-pandemic migration to rural areas, driven by work-from-home opportunities and cost-of-living differences [7] - The company's focus on rural markets provides resilience during economic downturns, with a loyal customer base and steady demand [4] - TSCO's real estate strategy and sale-leaseback deals position it well for growth, with Agree Realty (ADC) being a major beneficiary of its leaseback transactions [29][31] Challenges and Risks - Elevated interest rates and sticky inflation are pressuring consumer-focused corporations, with consumer credit increasing by $240B since pre-pandemic levels [13][14] - Consumer sentiment has worsened, with spending diverging between higher-income and lower-income consumers [15][16] - TSCO's current blended P/E ratio of 27.8x is above its long-term normalized P/E ratio, indicating a potentially lofty valuation [37]

Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Tractor Supply (TSCO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out. Tractor Supply is a member of our Retail-Wholesale group, which includes 212 different companies and currently sits at #10 in the Zacks Sector Rank. ...

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 ...

Q1 2024 Comp Sales Quarterly 2 The information in this presentation contains certain forward- looking statements. These statements discuss, among other things, statements regarding market share gains, positive customer trends, new stores and distribution centers, property development plans, and financial guidance for 2024, including net sales, comparable store sales, operating margin rates, net income, diluted earnings per share, capital expenditures and plans, share repurchase, and sale- leaseback transact ...

In the first quarter, our upper income consumer over-indexed in big ticket categories and recreational purchases compared to our lower income consumer, who is prioritizing their spend on needs. In spite of a very challenging housing market, we continue to see positive migration trends to our markets. While rural migration trends have moderated from the recent piece, rural America gained population in 2023. Overall, our customer base remains healthy and highly engaged. Total customer count grew mid-single-di ...

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 ...

TRACTOR SUPPLY COMPANY REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS; REITERATES FISCAL 2024 FINANCIAL OUTLOOK Brentwood, Tenn., April 25, 2024 - Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States (the "Company"), today reported financial results for its first quarter ended March 30, 2024. "For the first quarter, Tractor Supply's results were in line with our expectations with positive comparable store sales and robust earnings growth. I want to thank our more th ...