Tractor Supply delivered comparable sales and earnings growth in its third quarter based on gains in seasonal and everyday products.
Net income gained to $259.3 million, 49 cents per diluted share, from $241.5 million or 45 cents per diluted share, in the 2024 third quarter, the company noted.
A Zacks Investment Research Analyst Estimate called for earnings per diluted share of 48 cents and revenues of $3.72 billion.
Comparable sales increased 3.9% in the quarter year over year with comp average transaction count gaining of 2.7% and comp average ticket growing 1.2%. Comparable gains were driven by strength in spring and summer seasonal products and continued momentum in core categories, especially consumable, usable and edible products, Tractor Supply stated.
Net sales increased to $3.72 billion from $3.47 billion in the year-prior quarter. The comp increase helped drive the sales growth as did new store openings and a contribution from Allivet, Tractor Supply’s veterinary pharmacy operation, the company reported.
Operating income was $342.7 million versus $324.6 million in the year-earlier period.
In the quarter, Tractor Supply amended its guidance for the full fiscal year. It now expects net sales to come in up 4.6% to 5.6% versus its previous outlook for up 4% to 8%, comps up 1.4% to 2.4% versus flat to up 4% and earnings per diluted share at $2.06 to $2.13 versus $2 to $2.18.
“The Tractor Supply team delivered a strong third quarter,” said Hal Lawton, the company’s president and CEO. “This performance was driven by ongoing share gains, agile execution through an extended summer season and healthy transaction growth. Our results were in line with our expectations. As we enter the fourth quarter, we are well positioned for the fall and winter seasons, operating with discipline and controlling what we can control. With improved visibility on tariffs and the broader demand environment, we are narrowing our full-year guidance range to reflect our year-to-date performance and a balanced outlook. We are encouraged by the early momentum in our ‘Life Out Here 2030’ strategic initiatives: enhancing the customer experience, expanding our capabilities and strengthening our foundation for long-term growth.”
