Tractor Supply Company reported a 3.1% increase in fourth-quarter net sales to $3.77 billion, with comparable store sales rising 0.6%. Full-year 2024 net sales grew 2.2% to $14.88 billion, supported by a modest 0.2% increase in comparable store sales. Fourth-quarter diluted EPS was $0.44, while full-year diluted EPS reached $2.04, reflecting stable profitability despite higher expenses.

Gross margin for 2024 improved 34 basis points to 36.3%, while SG&A expenses rose 4.8% due to investments in growth initiatives, including store expansions and a new distribution center. The company repurchased $560.8 million in shares and paid $472.5 million in dividends, returning over $1 billion to shareholders.

For 2025, Tractor Supply expects net sales growth of 5-7%, comparable store sales growth of 1-3%, and diluted EPS between $2.10 and $2.22. The company plans to open 90 new Tractor Supply stores and 10 new Petsense locations while expanding its distribution network and enhancing its store layouts through Project Fusion remodels.

CEO Hal Lawton emphasized the company’s long-term strategy, including its "Life Out Here 2030" initiatives and the acquisition of Allivet, an online pet pharmacy, to drive future growth. With a strong market position, digital sales exceeding $1 billion, and record Neighbor’s Club memberships, Tractor Supply remains optimistic about its growth potential despite economic headwinds.