Tractor Supply Co. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Tractor Supply Co. filed its Q1 2024 10-Q, detailing financial positions and key instruments.</b>

AI Summary

TRACTOR SUPPLY CO /DE/ (TSCO) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Tractor Supply Co. filed its 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of the fiscal year. The company's fiscal year ends on December 30th. The filing includes data related to common stock, additional paid-in capital, treasury stock, and retained earnings. Key financial instruments such as Senior Notes are detailed.

Why It Matters

For investors and stakeholders tracking TRACTOR SUPPLY CO /DE/, this filing contains several important signals. This filing provides investors with the latest financial performance and position of Tractor Supply Co. for the first quarter of 2024. The detailed breakdown of equity and debt instruments offers insights into the company's capital structure and financial health.

Risk Assessment

Risk Level: — TRACTOR SUPPLY CO /DE/ shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures.

Analyst Insight

Review the detailed financial statements and notes within the 10-Q to understand the company's performance and capital structure for Q1 2024.

Key Numbers

• 2024-03-30 — Period End Date (Quarterly report period)
• 2024-05-09 — Filing Date (Date the report was filed)
• 12/30 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• TRACTOR SUPPLY CO /DE/ (company) — Filer name
• TSCO (company) — Ticker symbol
• 2024-03-30 (date) — Period of report
• 2024-05-09 (date) — Filing date
• Brentwood, TN (location) — Business address

FAQ

Industry Context

Tractor Supply Company operates as a retailer of farm and ranch supplies in the United States.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review the income statement for revenue and net income trends.
3. Examine the cash flow statement for operating, investing, and financing activities.

Key Dates

• 2024-03-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 10-K annual report.

Key Financial Figures

• $0.008 — ange on which registered Common Stock, $0.008 par value TSCO NASDAQ Global Select Mar

Filing Documents

• tsco-20240330.htm (10-Q) — 746KB
• q1202410qex311.htm (EX-31.1) — 10KB
• q1202410qex312.htm (EX-31.2) — 10KB
• q1202410qex321.htm (EX-32.1) — 6KB
• tsco-20240330_g1.jpg (GRAPHIC) — 160KB
• tsco-20240330_g2.jpg (GRAPHIC) — 5KB
• 0000916365-24-000059.txt (&nbsp;) — 4290KB
• tsco-20240330.xsd (EX-101.SCH) — 27KB
• tsco-20240330_cal.xml (EX-101.CAL) — 41KB
• tsco-20240330_def.xml (EX-101.DEF) — 105KB
• tsco-20240330_lab.xml (EX-101.LAB) — 399KB
• tsco-20240330_pre.xml (EX-101.PRE) — 274KB
• tsco-20240330_htm.xml (XML) — 356KB

Financial Statements

Financial Statements 1 Consolidated Statements of Income (unaudited) – For the Fiscal Three Months Ended March 30, 2024 and April 1, 2023 1 Consolidated Balance Sheets (unaudited) – March 30, 2024, December 30, 2023 and April 1, 2023 2 Consolidated Statements of Comprehensive Income (unaudited) – For the Fiscal Three Months Ended March 30, 2024 and April 1, 2023 3 Consolidated Statements of Stockholders' Equity (unaudited) – For the Fiscal Three Months Ended March 30, 2024 and April 1, 2023 4 Consolidated Statements of Cash Flows (unaudited) – For the Fiscal Three Months Ended March 30, 2024 and April 1, 2023 5 Notes to Unaudited Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 21 PART II. Other Information 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 23 Item 6. Exhibits 24 Signature 25 i. Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TRACTOR SUPPLY COMPANY CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) (Unaudited) For the Fiscal Three Months Ended March 30, 2024 April 1, 2023 Net sales $ 3,394,834 $ 3,299,225 Cost of merchandise sold 2,173,980 2,129,317 Gross profit 1,220,854 1,169,908 Selling, general and administrative expenses 853,436 828,235 Depreciation and amortization 104,293 97,233 Operating income 263,125 244,440 Interest expense, net 11,902 12,680 Income before income taxes 251,223 231,760 Income tax expense 53,056 48,672 Net income $ 198,167 $ 183,088 Net income per share – basic $ 1.84 $ 1.66 Net income per share – diluted $ 1.83 $ 1.65 Weighted average shares outstanding: Basic 107,946 110,045 Diluted 108,528 110,781 Dividends declared per common share outstanding $ 1.10 $ 1.03 The accompanying notes are an integral part of these Consolidated Financial Statements. 1 Table of Contents TRACTOR SUPPLY COMPANY CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (Unaudited) March 30, December 30, April 1, 2024 2023 2023 ASSETS Current assets: Cash and cash equivalents $ 264,085 $ 397,071 $ 190,078 Inventories 3,048,719 2,645,854 3,030,712 Prepaid expenses and other current assets 206,680 218,553 235,510 Income taxes receivable — 2,461 2,621 Total current assets 3,519,484 3,263,939 3,458,921 Property and equipment, net 2,496,948 2,437,184 2,144,769 Operating lease right-of-use assets 3,188,973 3,141,971 2,950,610 Goodwill and other intangible assets 269,520 269,520 253,262 Other assets 80,029 75,537 41,253 Total assets $ 9,554,954 $ 9,188,151 $ 8,848,815 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,515,681 $ 1,179,803 $ 1,526,540 Accrued employee compensation 22,880 91,478 21,507 Other accrued expenses 559,688 533,029 472,742 Current portion of finance lease liabilities 3,359 3,311 2,818 Current portion of operating lea

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