Tractor Supply Company Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 28, 2013; Provides Earnings Guidance for the Year 2014
For the year, the company's net sales increased 10.7% to $5.16 billion from $4.66 billion in fiscal 2012. Net income increased 18.7% to $328.2 million from $276.5 million and net income per diluted share increased 22.1% to $2.32 from $1.90 for fiscal 2012. Operating income was $514.650 million against $436.792 million a year ago. Income before income taxes was $514.093 million against $435.737 million a year ago. Net cash provided by operating activities was $333.681 million against $378.302 million a year ago. Capital expenditures were $218.200 million against $152.924 million a year ago.
The company anticipates net sales for fiscal 2014 will range between $5.62 billion and $5.70 billion, with comparable store sales expected to increase 2.5% to 4.0%. The company projects fiscal 2014 full year net income to range from $2.54 to $2.62 per diluted share. For the full year, the company expects capital expenditures to range between $240 million and $250 million.