Tractor Supply : TSCO Fourth Quarter 2024 Earnings Call Presentation
TSCO
2024 Milestones
Opened 10th and largest
Distribution Center Significant cash returned to shareholders
- Fourth consecutive year of more than $1B returned to shareholders
- 15th consecutive year of a dividend increase
43 consecutive months of customer satisfaction increases Opened 80 new Tractor Supply and 11 new Petsense
Stores
Comp Sales
0.6%
-4.2%
Q4 2023
Q4 2024
Comparable Transactions Increase of 2.3%
Comparable Ticket Decline of 1.7% Continued Strength in New and Big Ticket Categories
C.U.E. in line with Chain Average
- Mid-Single Digit Unit Growth Offset by Average Unit Retail Pressure
Gross Margin
SG&A Expenses
as a % of net sales
as a % of net sales
-9 bps Deleverage
-60 bps Deleverage
26.8%
Q4 2023
Q4 2024
Key Drivers
Deleverage Primarily Attributed to Planned Growth Initiatives
- Onboarding new distribution center
Modest Fixed Cost Deleverage
Profitability
9.1%
Operating
Net Income
Diluted EPS
Margin
-4.6%
-3.3%
-69 bps
$248M
$0.46
8.4% Q4 2023
Q4 2024
Q4 2023
$236M Q4 2024
Q4 2023
$0.44
Q4 2024
Q4 2024
Note: Diluted EPS has been retroactively adjusted for 5:1 stock split effective 12/20/2024.
Comp Sales
0.2%
0.0%
2023
2024
Comparable Transactions Increase of 0.8%
Comparable Ticket Decline of 0.6%
Strength in Big Ticket Categories Continued Market Share Gains in Key Categories
Gross Margin
SG&A Expenses
as a % of net sales
as a % of net sales
+34 bps Expansion
-63 bps Deleverage
36.3%
26.4%
2023
2024
2023
2024
Key Drivers
Key Drivers
Lower Transportation Costs
Deleverage Primarily Attributed to Planned Growth Initiatives
Disciplined Product Cost Management
- Onboarding new distribution center
Ongoing Execution of Everyday Low Price Strategy
Fixed Cost Deleverage
Offset by Mix of Big Ticket Growth
Note: Diluted EPS has been retroactively adjusted for 5:1 stock split effective 12/20/2024.
Profitability
10
Disclaimer
TSC - Tractor Supply Company published this content on March 31, 2025, and is solely responsible for the information contained herein. Distributed via , unedited and unaltered, on March 31, 2025 at 13:14 UTC.