After experiencing some controversy because of social initiatives, Tractor Supply met a second-quarter earnings estimate, although sales fell short.
Net income was $425.2 million, or $3.93 per diluted share, versus $421.2 million, or $3.83 per diluted share, in the year-previous quarter, according to the company.
A Yahoo Finance-published analyst consensus estimate called for earnings per share of $3.93 and revenue of $4.28 billion.
Comparable sales declined 0.5% driven by a comp average transaction count decrease of 0.6%, partially offset by a comp average ticket increase of 0.1%, Tractor Supply reported.
Net sales were $4.25 billion versus $4.18 billion in the year-earlier quarter. Operating income was $561.5 million versus $559.3 million in the period a year prior.
In announcing the second quarter numbers, Hal Lawton, Tractor Supply president and CEO, said, “We are pleased with our second quarter EPS results that were in line with our outlook. At the halfway point of the year, we have made significant progress on our Life Out Here strategy. We continue to create more separation between us and our competition thanks to our team members and the meaningful relationships they have with our customers. We are confident that we have the right plans in place to win with our customers, given the strength of our second-half operational initiatives. We remain excited about the significant market share growth opportunities ahead of us as we focus on the continued creation of long-term value for our shareholders.”
