Tractor Supply Co. Files Q2 2024 10-Q
Ticker: TSCO · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 916365
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: TSCO
TL;DR
TSCO's Q2 2024 10-Q is in. Check financials for latest performance.
AI Summary
Tractor Supply Company (TSCO) filed its 10-Q for the period ending June 29, 2024. The filing details the company's financial performance and position, including its balance sheet and income statement data for the second quarter of 2024. Specific financial figures and operational details are provided within the report.
Why It Matters
This filing provides investors and analysts with the latest official financial data for Tractor Supply, crucial for understanding the company's performance and making informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Players & Entities
- Tractor Supply Co (company) — Filer of the 10-Q
- TSCO (company) — Ticker symbol for Tractor Supply Co
- June 29, 2024 (date) — End of the reporting period
- August 8, 2024 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 29, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed with the SEC on August 8, 2024.
What is the company's ticker symbol?
The company's ticker symbol is TSCO.
What is the state of incorporation for Tractor Supply Company?
Tractor Supply Company is incorporated in Delaware (DE).
What is the primary business address for Tractor Supply Company?
The primary business address is 5401 Virginia Way, Brentwood, TN 37027.
Filing Stats: 4,670 words · 19 min read · ~16 pages · Grade level 11.8 · Accepted 2024-08-08 16:31:32
Key Financial Figures
- $0.008 — ange on which registered Common Stock, $0.008 par value TSCO NASDAQ Global Select Mar
Filing Documents
- tsco-20240629.htm (10-Q) — 919KB
- q2202410qex311.htm (EX-31.1) — 10KB
- q2202410qex312.htm (EX-31.2) — 10KB
- q2202410qex321.htm (EX-32.1) — 6KB
- tsco-20240629_g1.jpg (GRAPHIC) — 160KB
- tsco-20240629_g2.jpg (GRAPHIC) — 5KB
- 0000916365-24-000088.txt ( ) — 4737KB
- tsco-20240629.xsd (EX-101.SCH) — 28KB
- tsco-20240629_cal.xml (EX-101.CAL) — 42KB
- tsco-20240629_def.xml (EX-101.DEF) — 110KB
- tsco-20240629_lab.xml (EX-101.LAB) — 409KB
- tsco-20240629_pre.xml (EX-101.PRE) — 279KB
- tsco-20240629_htm.xml (XML) — 458KB
Financial Statements
Financial Statements 1 Consolidated Statements of Income (unaudited) – For the Fiscal Three and Six Months Ended June 29, 2024 and July 1, 2023 1 Consolidated Balance Sheets (unaudited) – June 29, 2024, December 30, 2023 and July 1, 2023 2 Consolidated Statements of Comprehensive Income (unaudited) – For the Fiscal Three and Six Months Ended June 29, 2024 and July 1, 2023 3 Consolidated Statements of Stockholders' Equity (unaudited) – For the Fiscal Three and Six Months Ended June 29, 2024 and July 1, 2023 4 Consolidated Statements of Cash Flows (unaudited) – For the Fiscal Six Months Ended June 29, 2024 and July 1, 2023 6 Notes to Unaudited Consolidated Financial Statements 7 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 14 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.
Controls and Procedures
Controls and Procedures 23 PART II. Other Information 24 Item 1.
Legal Proceedings
Legal Proceedings 24 Item 1A.
Risk Factors
Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26 Signature 27 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 For the Fiscal Six Months Ended Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales $ 4,246,622 $ 4,184,695 $ 7,641,456 $ 7,483,920 Cost of merchandise sold 2,690,996 2,669,926 4,864,976 4,799,243 Gross profit 1,555,626 1,514,769 2,776,480 2,684,677 Selling, general and administrative expenses 884,903 853,158 1,738,338 1,681,393 Depreciation and amortization 109,265 102,279 213,558 199,512 Operating income 561,458 559,332 824,584 803,772 Interest expense, net 11,612 12,343 23,514 25,023 Income before income taxes 549,846 546,989 801,070 778,749 Income tax expense 124,650 125,755 177,707 174,427 Net income $ 425,196 $ 421,234 $ 623,363 $ 604,322 Net income per share – basic $ 3.95 $ 3.85 $ 5.78 $ 5.51 Net income per share – diluted $ 3.93 $ 3.83 $ 5.75 $ 5.47 Weighted average shares outstanding: Basic 107,730 109,426 107,838 109,735 Diluted 108,235 110,041 108,381 110,411 Dividends declared per common share outstanding $ 1.10 $ 1.03 $ 2.20 $ 2.06 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) June 29, December 30, July 1, 2024 2023 2023 ASSETS Current assets: Cash and cash equivalents $ 394,748 $ 397,071 $ 620,031 Inventories 3,000,033 2,645,854 2,660,052 Prepaid expenses and other current assets 244,844 218,553 297,191 Income taxes receivable — 2,461 — Total current assets 3,639,625 3,263,939 3,577,274 Property and equipment, net 2,566,723 2,437,184 2,185,476 Operating lease right-of-use assets 3,225,156 3,141,971 2,957,792 Goodwill and other intangible assets 269,520 269,520 267,088 Other assets 83,500 75,537 45,193 Total assets $ 9,784,524 $ 9,188,151 $ 9,032,823 L