TRACTOR SUPPLY CO /DE/ (TSCO) Company Report

Net sales were $3.90 billion, up from $3.77 billion in Q4 2024, with comparable store sales of +0.3% in Q4 2025.
Operating margin declined to 7.6% of net sales, while net income amounted to $227.4 million and diluted EPS was $0.43.
Gross margin was 35.1% of net sales and SG&A expenses increased to 27.5%, driven by higher promotional and delivery costs as well as planned investments.
The company opened 99 new Tractor Supply stores and 5 Petsense stores in 2025, and achieved high single-digit digital sales growth.
For fiscal 2026, Tractor Supply guides to net sales growth of +4% to +6% and diluted EPS of $2.13 to $2.23.

7 days ago

Presentation

Tractor Supply announces Q4 2025 results

TSCO

Earnings

Guidance Update

New Projects/Investments

Net sales rose 3.3% to $3.9 billion in Q4, with comparable store sales up 0.3%; diluted EPS was $0.43.
For FY 2025, net sales increased 4.3% to $15.5 billion with comparable comps of 1.2%; diluted EPS was $2.06.
Q4 gross margin contracted by 10 bps amid elevated promotions and tariffs; SG&A increased to 27.5% of sales, and the effective tax rate improved to 19%.
2026 outlook: 4–6% total sales growth, 1–3% comp growth, 9.3–9.6% operating margin, EPS of $2.13–$2.23, $675–725 million capex, 100 new stores, and $375–450 million in share repurchases.
Strategic initiatives include doubling direct-sales specialists to target $50 million in sales and expanding final-mile delivery to ~375 hubs covering 50% of stores.

7 days ago

Transcript

Tractor Supply reports Q4 2025 results

TSCO

Earnings

Guidance Update

Share Buyback

Q4 net sales rose 3.3% to $3.9 billion, with comps up 0.3% and diluted EPS of $0.43; digital sales grew high-single digits.
Full-year 2025 net sales increased 4.3% to $15.5 billion, comps gained 1.2%, and diluted EPS was $2.06; digital business also delivered high-single-digit growth.
Q4 performance was held back by cycling last year’s storm benefits (≈100 bps headwind), softer big-ticket and holiday categories amid elevated promotions, while consumable and farm/ranch products gained share.
2026 outlook: net sales growth of 4–6%, comps 1–3%, operating margin 9.3–9.6%, diluted EPS $2.13–2.23; plans include ~100 new stores, $675–725 million capex, and $375–450 million in share repurchases.

7 days ago

Transcript

Tractor Supply reports Q4 2025 results and 2026 guidance

TSCO

Earnings

Guidance Update

Demand Weakening

Q4 2025 net sales rose 3.3% to $3.9 billion, with comparable store sales up 0.3%, diluted EPS of $0.43, and digital sales delivering high single-digit growth.
FY 2025 net sales increased 4.3% to $15.5 billion, comparable store sales +1.2%, diluted EPS of $2.06, with Neighbors Club contributing over 80% of sales.
Q4 gross margin declined ~10 bps; SG&A rose ~70 bps to 27.5% of sales; operating income fell 6.5%; effective tax rate improved to 19%.
The quarter faced a ~100 bp comp headwind from absent storm recovery and high-single-digit declines in big-ticket and emergency response categories.
2026 outlook: total sales growth of 4–6%, comps 1–3%, diluted EPS $2.13–$2.23, operating margin 9.3–9.6%, net capex $675–725 million, 100 new stores, and $375–450 million in share repurchases.

7 days ago

Transcript

Tractor Supply reports Q4 and FY 2025 results and 2026 outlook

TSCO

Earnings

Guidance Update

Share Buyback

Recorded $3.90 billion in Q4 2025 net sales (+3.3% YOY) and diluted EPS of $0.43 (vs. $0.44 prior year).
Delivered FY 2025 net sales of $15.52 billion (+4.3% YOY) and diluted EPS of $2.06.
Comparable store sales rose 0.3% in Q4 and 1.2% for the full year.
Issued FY 2026 guidance for net sales growth of 4%–6% and diluted EPS of $2.13–$2.23.
Returned capital of $238.9 million in Q4 via $117.5 million of buybacks and $121.4 million of dividends; FY 2025 total return was $848.5 million.

7 days ago

8-K

Tractor Supply reports Q4 and FY2025 financial results

TSCO

Earnings

Guidance Update

Share Buyback

In Q4 2025, net sales rose 3.3% to $3.90 billion with comparable-store sales up 0.3%, and diluted EPS was $0.43.
For FY 2025, net sales increased 4.3% to $15.52 billion with comparable-store sales growth of 1.2%, and diluted EPS was $2.06.
The company forecasts FY 2026 net-sales growth of 4%–6% and diluted EPS of $2.13–$2.23.
In Q4 2025, Tractor Supply repurchased 2.2 million shares for $117.5 million and paid $121.4 million in dividends; for FY 2025, it repurchased 6.6 million shares for $360.8 million and paid $487.7 million in dividends.

7 days ago

Press Release

Tractor Supply opens its 2,400th store

TSCO

New Projects/Investments

Tractor Supply opened its 2,400th store in Aiken, South Carolina, in early January 2026.
The Aiken launch is one of four grand openings in the first two weeks of 2026, supporting a plan to open 100 new stores by year-end.
The new store features a 3,000 sq ft Garden Center and complements a nearby location that has served the community since 2004.
Tractor Supply donated $2,400 to Aiken Equine Rescue as part of the grand opening celebrations.

Jan 12, 2026, 2:00 PM

Press Release

Tractor Supply details H2 2025 outlook and strategic growth initiatives

TSCO

Guidance Update

M&A

New Projects/Investments

The consumer remains healthy and resilient, with positive comparable store transactions, mid-single-digit CUE comps, strong big-ticket gains and stable discretionary categories in H1 2025.
Tariff-related costs are now flowing into P&L in H2, prompting modest 1–2% price increases with no notable elasticity impact so far.
Gross margin improved 30 bps in H1 2025; management expects an additional 5–15 bps expansion in H2, moderating headwinds from lapping distribution center benefits, consumable mix and tariffs.
The company is pursuing four “Life Out Here” growth pillars: Allivet pet pharmacy acquisition integration, B2B direct sales, final-mile delivery rollout and 15% store localization.
Tractor Supply plans 90+ store openings in 2025 (ramping to 100 in 2026), including 18 Big Lots retrofits, while managing limited cannibalization and exceeding new-store ROI forecasts.

Sep 3, 2025, 2:34 PM

Tractor Supply Co reports Q2 2025 results

TSCO

Earnings

Guidance Update

Share Buyback

Tractor Supply grew net sales 4.5% to $4.44 B with comparable store sales up 1.5% (transactions +1%, ticket +0.5%), delivering diluted EPS of $0.81 in Q2 2025.
Gross margin expanded 31 bps to 36.9%, operating income rose 2.9% to $577.8 M, and net income increased 1.1% to $430 M; inventories ended at $3.1 B to bolster in-stock levels.
Returned $196 M to shareholders via dividends and buybacks; full-year repurchase guidance lowered to $325–375 M (from $525–600 M) to support inventory and tariff impacts.
Reconfirmed 2025 outlook: net sales growth 4–8%, comp store sales flat to +4%, operating margin 9.5–9.9%, net income $1.07–1.17 B (EPS $2.00–2.18).

Jul 24, 2025, 6:15 PM

Tractor Supply Unveils Strategic Growth Initiatives at 2025 Conference

TSCO

New Projects/Investments

Revenue Acceleration/Inflection

M&A

Store and Revenue Growth: Tractor Supply Co operates over 2,300 stores and expects revenue to exceed $15 billion, having doubled revenues over the last five years.
Strategic Expansion: The company highlighted its Life Out Here 2030 strategy, aiming to drive new store growth (targeting around 90 new stores this year with a goal of 100 annually) and boost comparable sales through initiatives like direct sales and final mile delivery.
Enhanced Service Offerings: Through the acquisition of Alivet, Tractor Supply is integrating pet Rx services—part of a broader effort to monetize its extensive customer base, which includes over 40 million Neighbor's Club members.
Market Position and Pricing Resilience: The company benefits from a strong rural consumer base, limited tariff impact (with over 60% of products made in the U.S.), and a balanced mix of commodity and big-ticket sales.

Jun 5, 2025, 3:06 PM

Earnings Transcripts

Quarterly earnings call transcripts for TRACTOR SUPPLY CO /DE/.

Q4 2025

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TRACTOR SUPPLY CO /DE/ (TSCO)

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