Research Desk Line-up: HSN, Inc. Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Tractor Supply Co. (NASDAQ: TSCO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TSCO, following the Company's posting of its third quarter fiscal 2017 operating results on October 25, 2017. The retailer for farmers and ranchers outperformed top- and bottom-line expectations and updated its guidance for FY17. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Specialty Retail, Other industry. Pro-TD has currently selected HSN, Inc. (NASDAQ: HSNI) for due-diligence and potential coverage as the Company reported on November 08, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on HSN, Inc. when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TSCO; also brushing on HSNI. With the links below you can directly download the report of your stock of interest free of charge at:
Tractor Supply's net sales for Q3 2017 increased 11.6% to $1.72 billion from $1.54 billion in Q3 2016. The Company's revenue numbers surpassed analysts' estimates of $1.68 billion.
During Q3 2017, Tractor Supply's comparable store sales increased 6.6% versus a decrease of 0.6% in Q3 2016. The growth in the reported quarter comparable store sales was driven by an increase in both traffic and ticket, with comparable store transaction count increasing 5.0% and average ticket increasing 1.5%. The Company noted that comparable store sales were positive across all geographic regions and major product categories.
For Q3 2017, Tractor Supply's gross profit jumped 12.2% to $600.5 million from $535.3 million in Q3 2016, and gross margin increased 20 basis points to 34.9% from 34.7% in the prior year's comparable quarter. The Company stated that gross margin was benefitted by favorable seasonal conditions, strong sell through rates, and solid inventory management.
Tractor Supply's selling, general, and administrative (SG&A) expenses, including depreciation and amortization, increased 15.0% to $452.2 million for Q3 2017 from $393.3 million in the prior year's same period. As a percent of net sales, SG&A expenses increased 80 basis points to 26.3% from 25.5% in Q3 2016.
For Q3 2017, Tractor Supply's net income grew 2.7% to $91.9 million from $89.4 million in Q3 2016, while its diluted earnings per share advanced 7.5% to $0.72 from $0.67 in the year earlier same quarter. The Company's earnings surpassed Wall Street's expectations of $0.68 per share.
During Q3 2017, the Company opened 36 new Tractor Supply stores and closed one store, a Del's store, compared to 34 new store openings and one store closure, a Del's store, in Q3 2016. The Company also opened two new Petsense stores during the reported quarter and had no Petsense store closures.
The Company opened 74 new Tractor Supply stores, converted its 2 Hometown Pet stores to Petsense stores, and closed 2 stores (both Del's stores) in the first nine months of 2017 compared to 92 new store openings and 5 Del's store closures during the first nine months of 2016. The Company also opened 19 new Petsense stores during the first nine months and had no Petsense store closures.
At the end of Q3 2017, Tractor Supply had a cash balance of $70 million and $510 million in outstanding debt compared to a cash balance of $56 million and $295 million in outstanding debt in the year ago same period.
During the reported quarter, the Company acquired 1.4 million shares for $78.5 million through its stock repurchase program. On a year-to-date basis, Tractor Supply has acquired a total of 5.2 million shares for $326.6 million.
For FY17, Tractor Supply is forecasting sales in the range of $7.17 billion to $7.22 billion, comparable store sales to increase between 1.7% and 2.2%, net income to range from $416 million to $421 million, and earnings per diluted share to be between $3.25 to $3.29. The Company is expecting to meet its new store target of 100 Tractor Supply stores and 25 Petsense stores.
On Wednesday, November 15, 2017, the stock closed the trading session at $62.84, rising 1.93% from its previous closing price of $61.65. A total volume of 2.06 million shares have exchanged hands. Tractor Supply's stock price surged 6.33% in the last one month, 14.42% in the past three months, and 8.40% in the previous six months. The stock is trading at a PE ratio of 18.65 and has a dividend yield of 1.72%. The stock currently has a market cap of $7.94 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily