Last10K.com

Tractor Supply Co (TSCO) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 29, 2019

Tractor Supply Co

HISTORY TOOLS
CIK: 916365 Ticker: TSCO


tscologoa25.jpg
www.TractorSupply.com
TRACTOR SUPPLY COMPANY REPORTS SECOND QUARTER 2019 FINANCIAL RESULTS
•
Net Sales Increased 6.3%; Comparable Store Sales Increased 3.2%
•
Diluted Earnings Per Share Increased 6.5% to $1.80
•
$414 Million of Capital Returned to Shareholders Year to Date Through Share Repurchases and Quarterly Cash Dividends
•
Company Updates 2019 Financial Guidance, Including Raising the Midpoint of Its Earnings Per Share Guidance Range for Fiscal 2019

Brentwood, TN, July 25, 2019 - Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, today reported financial results for its second quarter ended June 29, 2019.

“For both the second quarter and first half of 2019, the Tractor Supply team delivered a very solid performance. For the quarter, comparable store sales growth of 3.2% was driven by improvements in our average ticket and positive comparable transaction counts, along with growth across all geographies. The team managed the business effectively to capture demand, and given our solid performance year to date and our expectations for the remainder of this year, we are raising the low end of our EPS guidance range by $0.05. We now expect EPS to be in the range of $4.65 to $4.75. We continue to demonstrate progress on our ONETractor strategy and remain committed to creating sustainable long-term shareholder value,” said Greg Sandfort, Tractor Supply’s Chief Executive Officer.

Second Quarter 2019 Results
Net sales for the second quarter 2019 increased 6.3% to $2.35 billion from $2.21 billion in the second quarter of 2018. Comparable store sales for the second quarter 2019 increased 3.2% driven by comparable average ticket and transaction count of 2.2% and 1.0%, respectively. All geographic regions of the Company had positive comparable store sales growth. The increase in comparable store sales was primarily driven by strength in everyday merchandise, including consumable, usable and edible products, along with solid demand for spring and summer seasonal categories.

Gross profit increased 6.7% to $820.7 million from $769.4 million in the second quarter of 2018, and gross margin increased 11 basis points to 34.9% from 34.8% in the prior year’s second quarter. The increase in gross margin was driven by product mix, along with the strength of the Company’s price management program. Freight expense did not have a significant impact on the quarter.

Selling, general and administrative (SG&A) expenses, including depreciation and amortization, increased 7.5% to $533.2 million from $496.0 million in the second quarter of 2018. As a percent of net sales, SG&A expenses increased 24 basis points to 22.7% from 22.4% in the prior year’s second quarter. The increase in SG&A as a percent of net sales was primarily attributable to incremental costs associated with a new distribution facility in Frankfort, N.Y., and, to a lesser extent, investment in store team member wages. These SG&A increases were partially offset by leverage in occupancy and other costs from the increase in comparable store sales.

The effective income tax rate was 22.4% compared to 22.8% in the prior year’s second quarter.

Net income increased 5.8% to $219.2 million from $207.3 million in the second quarter of 2018, and diluted earnings per share increased 6.5% to $1.80 from $1.69 in the prior year’s second quarter.

During the second quarter of 2019, the Company opened 15 new Tractor Supply stores and one new Petsense store.



The following information was filed by Tractor Supply Co (TSCO) on Thursday, July 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Tractor Supply Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Tractor Supply Co.

Continue

Assess how Tractor Supply Co's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Tractor Supply Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Other
Filter Subcategory:
All
Earnings
Product
Expense
Debt
Geography
Income
Shares
Other
Inside Tractor Supply Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited) Statement
Capital Stock - Narrative (Details)
Capital Stock And Dividends
Capital Stock And Dividends (Details)
Capital Stock And Dividends (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Details)
General
General (Details)
Income Taxes
Income Taxes (Details)
Interest Rate Swaps
Interest Rate Swaps (Details)
Interest Rate Swaps (Tables)
Interest Rate Swaps Current Period Oci Activity (Details)
Interest Rate Swaps Effective Date Of Interest Rate Swap Agreement (Details)
Interest Rate Swaps Schedule Of Changes In Aoci Net Of Tax (Details)
Interest Rate Swaps Tax Impact Of Derivative Liability On Accumulated Other Comprehensive Income (Loss) (Details)
Leases
Leases (Tables)
Leases - (Details)
Leases - Cash Paid For Amounts Included In The Measurement Of Lease Liabilities (Details)
Leases - Cost (Details)
Leases - Lease Term And Discount Rate (Details)
Leases - Maturity Liability 840 (Details) (Details)
Leases - Maturity Liability 842 (Details)
Net Income Per Share
Net Income Per Share (Details)
Net Income Per Share (Tables)
New Accounting Pronouncements
New Accounting Pronouncements New Accounting Pronouncements And Changes In Accounting Principles (Details)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Segment Reporting Number Of Reportable Segments (Details)
Senior Credit Facility - Credit Agreement (Details)
Senior Notes (Details)
Share Based Compensation
Share Based Compensation (Details)
Share Based Compensation (Tables)
Treasury Stock
Treasury Stock (Details)
Treasury Stock Treasury Stock (Tables)

Material Contracts, Statements, Certifications & more

Tractor Supply Co provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: TSCO
CIK: 916365
Form Type: 10-Q Quarterly Report
Accession Number: 0000916365-19-000132
Submitted to the SEC: Thu Aug 08 2019 12:37:24 PM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Saturday, June 29, 2019
Industry: Retail Building Materials Hardware Garden Supply

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/tsco/0000916365-19-000132.htm