Tractor Supply Reports Record Profits for Second Quarter of Fiscal Year 2023
August 12, 2023
☀️Earnings Overview
On July 27 2023, Tractor Supply ($NASDAQ:TSCO) Company reported its earnings results for the second quarter of fiscal year 2023, which ended on June 30 2023. Total revenue for the period was USD 4184.7 million, reflecting a 7.2% growth from the same period of the prior year. Net income was USD 421.2 million, representing a 6.2% year-over-year increase.
Stock Price
The company’s stock opened at $217.6 and closed at $223.6, up 4.2% from the previous closing price of $214.5. This marks a record high for TRACTOR SUPPLY and follows a string of positive quarterly results. The company also saw a 10% year-on-year increase in same-store sales, along with an increase in the average ticket size for online sales. In addition to these impressive results, TRACTOR SUPPLY has also launched new initiatives such as a subscription-based loyalty program which aims to provide more targeted offers to customers.
The company has attributed its success to the increasing demand for outdoor products such as vehicles, lawn and garden equipment, pet supplies, and tools. TRACTOR SUPPLY has also benefited from a strong housing market which has driven up demand for home improvement products. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tractor Supply. More…
| Total Revenues | Net Income | Net Margin |
| 14.76k | 1.11k | 7.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tractor Supply. More…
| Operations | Investing | Financing |
| 1.51k | -1.17k | -251.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tractor Supply. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.03k | 6.95k | 19.18 |
Key Ratios Snapshot
Some of the financial key ratios for Tractor Supply are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.6% | 17.2% | 10.0% |
| FCF Margin | ROE | ROA |
| 4.4% | 45.9% | 10.2% |
Analysis
GoodWhale has conducted an analysis of TRACTOR SUPPLY‘s fundamentals, and according to our Star Chart they are strong in dividend, growth, profitability, and medium in asset. Furthermore, TRACTOR SUPPLY has a high health score of 8/10 considering its cashflows and debt, showing that the company is capable of paying off debt and funding future operations. We classify TRACTOR SUPPLY as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given the fundamentals of TRACTOR SUPPLY, we believe investors who are looking for a stable and high-growth company would be interested in this stock. It is important to note, however, that like any investment, it is wise to do some research and analysis before investing in a particular stock. More…
Peers
Tractor Supply Co. is an American retail chain of stores that offers products for home improvement, agriculture, lawn and garden maintenance, and livestock, equine, and pet care. It is one of the largest retailers in the United States. The company competes with Murphy USA Inc, Michael Anthony Jewelers, Casey’s General Stores Inc.
– Murphy USA Inc ($NYSE:MUSA)
Murphy USA Inc is a publicly traded company that operates in the petroleum retail industry. The company has a market capitalization of $7.2 billion as of 2022 and a return on equity of 78.1%. Murphy USA Inc is headquartered in El Dorado, Arkansas, and was founded in 1996. The company operates over 1,400 retail locations in the United States, selling gasoline, diesel fuel, and convenience store products.
– Michael Anthony Jewelers ($OTCPK:MAJJ)
Casey’s General Stores Inc is a publicly traded company that operates convenience stores in the Midwestern United States. As of 2022, the company had a market capitalization of 8.59 billion dollars and a return on equity of 14.75%. Casey’s General Stores Inc is headquartered in Ankeny, Iowa.
Summary
The investment analysis of TRACTOR SUPPLY is positive following its second quarter earnings results for the fiscal year 2023. Total revenue increased by 7.2% year-over-year to 4184.7 million USD, and net income rose 6.2% to 421.2 million USD. This positive news reflected in the stock price, which moved up on the day of the earnings announcement. This indicates that investors remain confident in the company’s outlook and are expecting continued growth in the near future.
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