Tractor Supply Files Q3 2024 Report

Ticker: TSCO · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 916365

Sentiment: neutral

Topics: 10-Q, filing-compliance, quarterly-report

Related Tickers: TSCO

TL;DR

TSCO filed its 10-Q for Sept 28, 2024 - all good on filings.

AI Summary

Tractor Supply Company (TSCO) filed its quarterly report for the period ending September 28, 2024. The company, incorporated in Delaware, operates under commission file number 000-23314 and its common stock is traded on the NASDAQ Global Select Market under the symbol TSCO. The filing indicates that Tractor Supply has met all reporting requirements for the preceding 12 months and the past 90 days, and has submitted all required Interactive Data Files electronically.

Why It Matters

This filing provides investors with an update on Tractor Supply's financial and operational status, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not contain any immediate red flags or significant negative developments.

Key Numbers

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The quarterly period ended September 28, 2024.

What is Tractor Supply Company's commission file number?

The commission file number is 000-23314.

On which exchange is Tractor Supply Company's common stock traded?

Tractor Supply Company's common stock is traded on the NASDAQ Global Select Market.

Has Tractor Supply Company filed all required reports for the preceding 12 months?

Yes, the filing indicates that the registrant has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Has Tractor Supply Company submitted all required Interactive Data Files electronically?

Yes, the filing indicates that the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

Filing Stats: 4,625 words · 19 min read · ~15 pages · Grade level 12.8 · Accepted 2024-11-07 16:40:25

Key Financial Figures

Filing Documents

Financial Statements

Financial Statements 1 Consolidated Statements of Income (unaudited) – For the Fiscal Three and Nine Months Ended September 28, 2024 and September 30, 2023 1 Consolidated Balance Sheets (unaudited) – September 28, 2024, December 30, 2023 and September 30, 2023 2 Consolidated Statements of Comprehensive Income (unaudited) – For the Fiscal Three and Nine Months Ended September 28, 2024 and September 30, 2023 3 Consolidated Statements of Stockholders' Equity (unaudited) – For the Fiscal Three and Nine Months Ended September 28, 2024 and September 30, 2023 4 Consolidated Statements of Cash Flows (unaudited) – For the Fiscal Nine Months Ended September 28, 2024 and September 30, 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 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24 PART II. Other Information 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 28 Signature 29 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 Nine Months Ended Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales $ 3,468,245 $ 3,411,980 $ 11,109,700 $ 10,895,900 Cost of merchandise sold 2,177,797 2,161,501 7,042,773 6,960,744 Gross profit 1,290,448 1,250,479 4,066,927 3,935,156 Selling, general and administrative expenses 852,299 819,311 2,590,637 2,500,704 Depreciation and amortization 113,550 90,263 327,107 289,775 Operating income 324,599 340,905 1,149,183 1,144,677 Interest expense, net 13,875 9,539 37,389 34,562 Income before income taxes 310,724 331,366 1,111,794 1,110,115 Income tax expense 69,254 76,365 246,960 250,792 Net income $ 241,470 $ 255,001 $ 864,834 $ 859,323 Net income per share – basic $ 2.25 $ 2.34 $ 8.04 $ 7.85 Net income per share – diluted $ 2.24 $ 2.33 $ 8.00 $ 7.81 Weighted average shares outstanding: Basic 107,167 108,774 107,614 109,415 Diluted 107,678 109,342 108,147 110,055 Dividends declared per common share outstanding $ 1.10 $ 1.03 $ 3.30 $ 3.09 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) September 28, December 30, September 30, 2024 2023 2023 ASSETS Current assets: Cash and cash equivalents $ 186,294 $ 397,071 $ 421,693 Inventories 3,082,519 2,645,854 2,834,247 Prepaid expenses and other current assets 199,967 218,553 278,174 Income taxes receivable 14,381 2,461 — Total current assets 3,483,161 3,263,939 3,534,114 Property and equipment, net 2,632,895 2,437,184 2,273,646 Operating lease right-of-use assets 3,295,678 3,141,971 3,084,947 Goodwill and other intangible assets 269,520 269,520 267,329 Other assets 86,643 75,537 44,978 Total

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