Tractor Supply Co. just beat a Wall Street estimate on fourth-quarter earnings and just missed an estimate on revenue for the period.
Net income was $236.4 million, or 44 cents per diluted share, versus $247.9 million, or 46 cents per diluted share, in the year-before period, the company reported.
A Yahoo Finance-published analyst consensus estimate called for earnings per diluted share of 45 cents and revenues of $3.78 billion.
Comparable sales increased 0.6% year over year in the quarter, with average transaction up 2.3%, according to Tractor Supply. Net sales were $3.77 billion from $3.66 billion in the year-prior period. New store openings and comp growth drove the net sales increase. Operating income was $318.3 million versus $334.2 million in the year-previous period.
For the full fiscal year, net income was $1.1 billion, or $2.04 per diluted share, versus $1.11 billion, or $2.02 per diluted share, in the year before, the company noted.
Net sales advanced to $14.88 billion from $14.56 billion with comps up 0.2% versus the year prior, Tractor Supply maintained. Operating income was $1.47 billion versus $1.48 billion in the year previous.
In fiscal 2024, the company opened 80 new Tractor Supply and 11 new Petsense by Tractor Supply stores, and it closed three Petsense stores.
“In 2024, our business performed well in a challenging retail environment, and we made significant progress on our ‘Life Out Here’ strategy,” said Hal Lawton, president and CEO. “We achieved numerous milestones during the year, including having about half of our stores in the Project Fusion layout and opening our 10th and largest distribution center. The fundamentals of our business remain strong with ongoing market share gains, record Neighbor’s Club members, digital sales in excess of one billion dollars and high-return new store openings.”
Lawton added, “We enter the back half of the decade with momentum and opportunity. Our existing initiatives are creating value and have continued runway for growth. Our recently announced ‘Life Out Here 2030’ strategy represents significant opportunities to continue to gain market share in a growing total addressable market. Our acquisition of Allivet, a leading online pet pharmacy, is a great example of unlocking new opportunities for growth. We expect our 2025 comparable store sales to improve throughout the year as the macro headwinds impacting our business abate. ”
