Tractor Supply (TSCO) Q1 2025 Earnings
How Did TSCO Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +8.13%.
Did TSCO Beat Earnings? Q1 2025 Results
No. Tractor Supply reported Q1 2025 earnings of $0.34 a share on Apr 24, 2025, missing the $0.37 consensus estimate by 7.9%. Revenue was $3.5B against a $3.5B estimate.
Tractor Supply delivered a disappointing start to fiscal 2025, missing on both the top and bottom lines as softer spring demand and cost pressures weighed on results. The farm and ranch retailer posted first-quarter revenue of $3.47 billion, up 2.1% year over year but falling short of the $3.53 billion consensus estimate by 1.85%, while diluted EPS of $0.34 missed the $0.37 consensus by 7.93% and represented an 8.0% decline from the prior-year period. The most material drag came from a 0.9% comparable store sales decline, itself driven by a 2.9% drop in average ticket as weakness in spring seasonal goods and big-ticket categories offset solid gains in everyday consumable products and transaction counts. SG&A expenses also deleveraged 81 basis points, reflecting fixed cost pressure and growth investments tied to a new distribution center. Looking ahead, management widened its full-year guidance range to account for tariff uncertainty, now projecting diluted EPS of $2.00 to $2.18, a notably wider and lower band than its prior $2.10 to $2.22 outlook, while pointing to its largely U.S.-sourced assortment as a buffer against further trade disruption.
- Strong comparable average transaction count growth of 2.1%
- Strength in consumable, usable and edible (CUE) products and winter seasonal merchandise
- New store openings contributed 2.8% of total sales
- Allivet acquisition contribution to net sales
- Gross margin expanded 25 basis points driven by disciplined product cost management and everyday low price strategy
- Exclusive brands grew to 30.7% of total sales from 29.7% year over year
“As the year unfolds amid increasing volatility, our conviction in Tractor Supply's resilient and durable business model remains strong. We have a long track record of navigating uncertain environments, and we believe we are well-positioned to do so once again. Tractor Supply is uniquely differentiated by our needs-based product categories, our predominantly U.S.-sourced assortment, deep and trusted vendor relationships and a nimble, scalable supply chain.”
Tractor Supply CEO, on the earnings call
What Was Tractor Supply's Outlook in Q1 2025?
Tractor Supply widened its fiscal year 2025 guidance amid increased tariff-related uncertainty. Updated full-year outlook: net sales growth of +4% to +8% (previously +5% to +7%), comparable store sales growth of 0% to +4% (previously +1% to +3%), operating margin rate of 9.5% to 9.9% (previously 9.6% to 10.0%), net income of $1.07 billion to $1.17 billion (previously $1.12 billion to $1.18 billion), and diluted EPS of $2.00 to $2.18 (previously $2.10 to $2.22). For Q2 2025, the company expects net sales growth of approximately 3% to 4%, comparable store sales growth of flat to +1%, and diluted EPS of $0.79 to $0.81. The company is actively working with vendor and supply chain partners to navigate tariff impacts while monitoring broader macroeconomic factors.
TSCO YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $3.5B | $3.4B | +2.1% |
| Gross Profit | $1.3B | $1.2B | +2.8% |
| Operating Income | $249.1M | $263.1M | −5.3% |
| Net Income | $179.4M | $198.2M | −9.5% |
Figures from SEC filings and company reports. Not investment advice.