会议主要讨论的核心内容 消费者状况 - 整体经济活动强劲,GDP增长约2.5%左右 [5] - 消费支出增长约3%,其中服务类消费增长7%,商品类消费增长1%-1.5% [5] - 消费者财富水平处于历史高位,公司客户群体以中高端为主,未受到低端消费者困难的影响 [5] 价格和通胀 - 公司主要的消耗品、可用品和食品(CUE)类别在2022年和2021年下半年出现了显著通胀 [10] - 目前大部分商品价格已经趋于稳定,部分出现了通缩,如动物饲料 [10] - 未来一年内不预期会出现进一步的通胀或通缩风险 [10] 新品和节假日表现 - 新品和创新产品在今年上半年表现出色,如骑乘式割草机和烧烤炉等 [12] - 万圣节装饰品销售强劲,但公司在服装和糖果等节日商品上占比较小 [12] - 圣诞节销售季可能受到11月5日联邦选举和节假日购物天数减少的影响,预计将非常紧张 [12] 竞争格局 - 公司的总寻址市场规模约为1800亿美元,公司收入约150亿美元,占8%市场份额 [14] - 主要竞争对手包括8000家农场和牧场合作社以及1000多家区域性连锁店 [14] - 公司在农场和牧场渠道拥有明显的规模优势和竞争优势 [14] 门店和供应链投资 - 新店经济效益良好,新店首年即可实现现金流正值,3年内收回投资 [18][19] - 新店均采用Fusion布局和园艺中心,有助于提升长期销售增长 [18][19] - 公司将继续加大新店开设力度,未来3年目标达到90家新店 [19] - 供应链和物流方面的投资有助于提升生产效率和盈利能力 [16] 数字化和会员计划 - 公司会员计划"邻里俱乐部"拥有3500万会员,占公司销售的80% [23] - 会员计划不断优化升级,为公司提供了丰富的客户数据 [23] - 公司正在探索利用会员数据进行广告投放等新的变现模式 [24]

Tractor Supply Company (TSCO) has demonstrated impressive performance in the stock with a year-to-date (YTD) gain of 24.6%. This performance significantly outpaces the Zacks Retail - Miscellaneous industry which has seen a decline of 6%. TSCO has also outperformed the broader Retail-Wholesale sector, which increased 13.2%, and the S&P 500, which grew 18.4% in the same period. Closing at $267.55, the Tractor Supply stock is trading at a 45% premium to its 52-week low of $185, showcasing strong upward momentu ...

Tractor Supply Company (TSCO) has been doing well, thanks to its sturdy business strategies, including the Life Out Here and ONETractor initiatives. The Neighbor's Club loyalty program is performing well. Hence, the company has been experiencing sturdy demand and strong market share gains for a while. Analysts seem optimistic about the company. The Zacks Consensus Estimate for 2024 sales and earnings per share (EPS) is currently pegged at $14.9 billion and $10.23, respectively. These estimates indicate corr ...

Tractor Supply Company TSCO reported downbeat sales for the second quarter on Thursday.The company reported quarterly earnings per share of $3.93, in line with the street view. Second-quarter sales totaled $4.25 billion (+1.5%), which missed the analyst consensus of $4.284 billion, according to data from Benzinga Pro.Comparable store sales decreased 0.5%, as compared to an increase of 2.5% in the prior year's second quarter, driven by a comparable average transaction count decline of 0.6%."At the halfway po ...

The exterior of a Tractor Supply store. TennesseePhotographer Anybody who has been invested in equities for a while knows the volatility that goes along with it. I find that the intersection of facts (e.g., fundamentals) and market sentiment (i.e., human emotions and market algorithms) can create an interesting game to watch unfold. In the blink of an eye, these dynamics can cause a stock to become oversold or overbought. Only to eventually reverse course once again. In other words, sentiment usually make ...

财务数据和关键指标变化 - 公司净销售额增长1.5%,可比店铺销售下降0.5% [20] - 每股摊薄收益为3.93美元 [20] - 毛利率增加43个基点至上年同期 [50] - 销售、一般及管理费用占净销售额的比例增加58个基点至23.4% [51] - 营业利润率为13.2% [53] 各条业务线数据和关键指标变化 - 大型商品类别如骑乘式割草机、休闲车和运动用品表现强劲 [31] - 可消耗、可用和可食用产品类别销售略低于公司平均水平,但单位销量增长 [32][33] - 宠物食品类别销售增长放缓,但公司继续获得市场份额 [33][34] - 水产品、牲畜和家禽饲料类别公司继续获得市场份额,单位销量增长中高个位数 [37] 各个市场数据和关键指标变化 - 各地区可比店铺销售增长在-2%至+2%之间 [48] - 东北部和联邦地区表现最强,受益于更容易的同比基数和更好的天气 [48] - 西部和德克萨斯州、俄克拉荷马州表现较弱,受到更高的同比基数和不利天气条件的影响 [48] 公司战略和发展方向及行业竞争 - 公司在大型商品类别和宠物相关业务方面持续投资,并取得良好成果 [31][34][35][41] - 公司正在加强自有开发门店,预计未来将带来收入增长和利润率提升 [42][43] - 公司在客户服务、忠诚度计划等方面持续投资,保持竞争优势 [28][29][30] - 公司认为行业内部分因素如商品转向服务消费和通胀将是短期性的,有信心长期恢复到4-5%的销售增长 [69][70] 管理层对经营环境和未来前景的评论 - 消费者支出疲软,但仍在公司预期范围内 [13][14][15] - 公司上半年业绩符合预期,第二季度受到季节性因素影响 [17][18] - 公司对下半年保持谨慎乐观,第三季度业绩有望与上半年持平,第四季度存在较大不确定性 [57][58][59] 其他重要信息 - 公司成功应对了CrowdStrike网络攻击事件,未对业务造成重大影响 [12] - 公司推出"Hometown Heroes"计划,为军人、退伍军人和急救人员提供最高级别的忠诚度计划福利 [24][25] - 公司新开21家Tractor Supply门店和3家Petsense by Tractor Supply门店,新店生产力表现出色 [42] 问答环节重要的提问和回答 问题1 **Scot Ciccarelli 提问** 询问公司是否预期会出现延长的销售季节,以及第三季度的销售情况 [75][76] **Hal Lawton 回答** 公司原本预期会出现延长的销售季节,但实际情况并未如此。第三季度销售情况预计与上半年持平 [76][77] 问题2 **Michael Lasser 提问** 询问公司近期社交媒体事件是否对销售产生影响 [82][83] **Hal Lawton 回答** 公司目前没有证据表明该事件对业务产生重大影响,公司文化和价值观没有改变 [83][84][85] 问题3 **Peter Keith 提问** 询问公司是否在第二季度加速获得行业份额 [161][162][163][164][165][166] **Hal Lawton 回答** 公司在大型商品、饲料等类别持续获得市场份额,得益于公司的规模优势、供应链实力和战略举措 [162][163][164][165][166]

Tractor Supply (TSCO) reported $4.25 billion in revenue for the quarter ended June 2024, representing a yearover-year increase of 1.5%. EPS of $3.93 for the same period compares to $3.83 a year ago. The reported revenue represents a surprise of -0.77% over the Zacks Consensus Estimate of $4.28 billion. With the consensus EPS estimate being $3.94, the EPS surprise was -0.25%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Tractor Supply (TSCO) came out with quarterly earnings of $3.93 per share, missing the Zacks Consensus Estimate of $3.94 per share. This compares to earnings of $3.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.25%. A quarter ago, it was expected that this retailer for farmers and ranchers would post earnings of $1.70 per share when it actually produced earnings of $1.83, delivering a surprise of 7.65%.Over the last fou ...

财务业绩 - 第二季度净销售额增长1.5%至42.5亿美元[3] - 毛利润增长2.7%至15.6亿美元,毛利率提升43个基点至36.6%[8] - 销售、一般及管理费用增加4.1%至9.942亿美元,占净销售额的23.4%[9] - 净利润增长0.9%至4.252亿美元[12] 门店拓展 - 公司在第二季度开设了21家新的Tractor Supply门店和3家新的Petsense by Tractor Supply门店[14] 股东回报 - 公司在第二季度回购了约50万股股票,并支付了1.185亿美元的现金股利[13] 财务状况 - 公司现金及现金等价物为3.95亿美元，较上年同期下降36.4%[32] - 公司存货为30亿美元，较上年同期增加12.8%[32] - 公司营业租赁使用权资产为32.25亿美元，较上年同期增加9.1%[32] - 公司总资产为97.85亿美元，较上年同期增加8.3%[32] - 公司总负债为74.79亿美元，较上年同期增加7.7%[32] - 公司总股东权益为23.05亿美元，较上年同期增加10.5%[32] 经营情况 - 可比店铺销售下降0.5%[3] - 公司营业收入同比增长0.2%，新店销售占总销售的2.0%[35] - 公司同店销售下降0.5%，同店平均客单价增长0.1%[35] - 公司自有品牌销售占比为26.7%，进口商品销售占比为10.9%[35] 财务指引 - 公司更新了2024财年的财务指引[4] - 公司资本支出为3.50亿美元，主要用于新店开设和信息技术投入[41] 每股收益 - 每股摊薄收益为3.93美元[4]

Tractor Supply Company (TSCO) is likely to register increases in the top and bottom lines when it reports second-quarter 2024 results on Jul 25, before market open. The Zacks Consensus Estimate for revenues is pegged at $4.3 billion, indicating a 2.3% jump from the year-ago reported figure.The bottom line of the largest rural lifestyle retailer in the United States is expected to have risen year over year. The Zacks Consensus Estimate for earnings per share for the second quarter has been unchanged at $3.94 ...