Tractor Supply Co (NasdaqGS:TSCO) Q3 2025 Earnings Call October 23, 2025 10:00 AM ET Company ParticipantsJohn Ordus - EVP of Chief Stores OfficerSteven Zaccone - Director of Equity ResearchKurt Barton - EVP, CFO and TreasurerRob Mills - EVP, CTO and CSOSteven Forbes - Senior Managing DirectorHal Lawton - President and CEOChuck Grom - Managing DirectorMary Winn Pilkington - SVP of Investor and Public RelationsPeter Benedict - Managing Director of Equity ResearchElisa Gonzalez - Team ManagerKate McShane - Man ...

Tractor Supply Co (NasdaqGS:TSCO) Q3 2025 Earnings Call October 23, 2025 10:00 AM ET Speaker0Good morning, ladies and gentlemen, and welcome to Tractor Supply Company's Conference Call to discuss Third Quarter twenty twenty five Results. At this time, all participants are in a listen only mode. Later, we will conduct a question and answer session and instructions will follow at that time. Please that the queue for our question and answer session did not open until the start of this call. Please be advised t ...

Core Insights - Chewy Inc. reported better-than-expected earnings for Q2 2025, with adjusted earnings of 33 cents per share, surpassing the consensus of 14 cents and management guidance of 30-35 cents [1] - The company achieved sales of $3.10 billion, reflecting an 8.6% year-over-year increase, exceeding both the consensus of $3.08 billion and management guidance of $3.06 billion-$3.09 billion [1] Financial Performance - Q2 net sales exceeded the high end of Chewy's guidance range, with active customers growing 4.5% year-over-year to nearly 21 million and share of wallet (NSPAC) reaching $591 [2] - For Q3, Chewy expects adjusted earnings of 28-33 cents per share, above the consensus of 23 cents, and forecasts sales of $3.07 billion-$3.1 billion compared to the consensus of $3.05 billion [2] Guidance and Market Reaction - Chewy raised its fiscal 2025 sales guidance from $12.3 billion-$12.45 billion to $12.5 billion-$12.6 billion, slightly below the consensus of $12.58 billion, with an expected adjusted EBITDA margin of 5.4%-5.7% [3] - Following the earnings announcement, Chewy shares gained 2.7% to $36.06 [3] Analyst Ratings and Price Targets - Barclays, Baird, RBC Capital, Morgan Stanley, TD Cowen, JP Morgan, Citigroup, and UBS analysts maintained their ratings on Chewy but adjusted their price targets downward, with most targets now ranging from $43 to $48 [5]

g petco Second Quarter 2025 Earnings Call Meaningfully increased profitability as efforts to strengthen retail fundamentals continue to take hold Focused on core tenets of economic model to expand gross margin, leverage SG&A and prioritize ROIC August 28, 2025 Safe Harbor and Non-GAAP Measures This Presentation cortains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1935 as sortained in Section 274 of the Secur as amended, and Section 21E of the Securities ...

Summary of China Pet Foods (002891.SZ) 2Q25 Conference Call Company Overview - **Company**: China Pet Foods - **Ticker**: 002891.SZ - **Period**: 2Q25 Key Financial Highlights - **Revenue**: Increased by 23% year-over-year (yoy) to RMB 1,331 million, exceeding guidance of 21% yoy growth [1][7] - **Net Profit**: Rose by 30% yoy to RMB 112 million, slightly above guidance of RMB 110 million [1][12] - **Gross Profit Margin (GPM)**: Improved by 2.9 percentage points yoy to 31.0%, higher than the expected 29.5% [1][7] - **Operating Profit (OP)**: Grew by 15% yoy to RMB 125 million, but lower than the expected growth due to increased selling and administrative expenses [1][7] - **Operating Cash Flow (OCF)**: Decreased by 51% yoy to RMB 45 million, attributed to higher cash outflows for goods and operational expenses [12] Sales Performance - **Domestic Sales**: Contributed 37% of total sales, amounting to RMB 857 million, with a growth rate of 40% yoy [8] - **Overseas Sales**: Accounted for 63% of total sales, reaching RMB 1,478 million, growing at 17% yoy [8] - **Product Categories**: - Staple food sales grew by 86% yoy - Total pet treats sales increased by 6% yoy - Pet supplies saw an 11% yoy growth [8] Cost Structure - **Selling Expense Ratio**: Increased to 12.9%, up by 0.9 percentage points from guidance [7] - **Administrative Expense Ratio**: Rose to 7.8%, 2.3 percentage points higher than expected [7] Strategic Insights - **Brand Development**: The company is focusing on developing its own-brand products, which accounted for 90% of domestic sales in the first half of 2025 [2] - **Global Factory Exposure**: Efforts to mitigate trade tensions through diversified factory locations [2] - **Future Focus Areas**: Upcoming online briefing will cover updates on overseas operations, domestic sales outlook, brand development progress, and raw material costs [2] Dividend Announcement - **Interim Dividend**: Announced at RMB 0.2 per share, up from RMB 0.15 in the previous fiscal year, indicating a 27.3% payout ratio [9] Risks and Challenges - **Key Risks**: - Slower-than-expected domestic revenue growth - Food safety issues - Foreign exchange fluctuations - Increased freight and raw material costs - Potential tariffs on pet food exports to the US [14] Valuation and Price Target - **Price Target**: Set at RMB 63.00, with a current price of RMB 58.72, indicating a potential upside of 7.3% [15] - **Valuation Methodology**: Based on a sum-of-the-parts (SOTP) approach, applying different P/E ratios for domestic and overseas businesses [13] Conclusion - **Overall Performance**: China Pet Foods demonstrated strong sales growth in 2Q25, driven by both domestic and overseas markets, despite facing challenges with rising costs and operational expenses. The company is strategically positioning itself for long-term growth through brand development and global factory diversification.

Financial Performance - Q1 2025 adjusted EBITDA increased by $13.8 million to $89.4 million, exceeding expectations[6] - Net sales for Q1 2025 were $1.493 billion, a decrease of 2% year-over-year[18, 39] - The company reaffirmed its 2025 net sales and earnings outlook, including estimated tariff headwinds as of June 5th, 2025[8] - Net debt decreased by 2% year-over-year, from $1.50 billion to $1.46 billion[24] - Liquidity increased by 5% year-over-year, from $617 million to $648 million[24] Sales by Category - Consumables net sales decreased by 2% year-over-year[19, 39] - Supplies and Companion Animal net sales decreased by 4% year-over-year[19, 39] - Services and Other net sales continued to deliver positive growth, increasing by 1% year-over-year[19, 39] Guidance - Q2 2025 net sales are expected to be down low single digits year-over-year[26] - Q2 2025 adjusted EBITDA is projected to be between $92 million and $94 million[26] - Full year 2025 adjusted EBITDA is expected to be between $375 million and $390 million[26]