Profit revenue

Tractor supply posts higher profit and revenue in second quarter

By Connor Hart

Tractor Supply Co. on Thursday reported higher second-quarter earnings and revenue as sales and price increases helped offset rising transportation costs and inflation.

The Brentwood, Tennessee-based farm and ranch retailer reported earnings of $396.5 million, or $3.53 per share, compared to $370.0 million, or $3.19 per share , the previous year.

Analysts polled by FactSet had expected earnings of $3.51.

Revenue for the quarter ended June 25 reached $3.90 billion, compared to $3.60 billion a year earlier. Analysts had expected revenue of $3.82 billion, according to FactSet.

The company said same-store sales rose 5.5%, compared with a 10.5% increase in the second quarter a year earlier. Average same-store transaction value increased 7.5%, offsetting a 2% decline in average same-store transaction count.

Price increases and other margin-generating initiatives helped offset the effects of product cost inflation and rising transportation costs, the company said.

The company said same-store sales growth was driven by strength in everyday product categories, based on needs and products throughout the year.

Write to Connor Hart at [email protected]