Categories AlphaGraphs, Earnings, Other Industries, Retail

Earnings: Tractor Supply rams through with jump in Q3 income

Net sales of Tractor Supply Company (TSCO) for the third quarter rose 9.3% to $1.88 billion from $1.72 billion a year ago, with comparable store sales rising 5.1%. Gross profit jumped 8.8% to $653.1 million. Net income soared 27.1% to $116.8 million, while diluted earnings rose 31.9% to $0.95 a share.

At quarter end, $398.4 million of capital was returned to shareholders since the year began. The company benefited from comp store sales rising due to increases in comparable average ticket of 3.6% and comparable transaction count of 1.4%, driven by broad-based strength in everyday merchandise, along with robust growth across spring and summer seasonal categories.

All merchandise categories delivered higher comparable store sales, as did all geographic regions. The Gross profit jump of 8.8% was, however, diminished by gross margin falling 16 basis points to 34.7%, due to an increase in freight expense on higher carrier rates and increased diesel fuel prices. Tractor Supply opened 23 new Tractor Supply stores and seven new Petsense stores in the third quarter of 2018.

Tractor Supply third quarter 2018 Earnings Infographic

Outlook
The company updated its guidance for fiscal 2018, on better-than-expected results for the first 9 months.

Net sales is now expected to be between $7.84 billion and $7.87 billion generating net income of $522-528 million on comparable store sales growth between 4% and 4.5%. Earnings for the fiscal year is now seen at $4.23-4.27 per diluted share.

 

Most Popular

Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues

Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5

Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights

Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top