Companies /Consumer Cyclical

Tractor Supply Company

NASDAQ: TSCO Specialty Retail
$34.60
▼ $0.41 (−1.17%) today
Markets open · 1:37pm ET

Q4 2025 Earnings

Reported Jan 29, 2026, 7:01am ET · SEC source
$0.43
Miss −7.21%
EPS · est. $0.46
$3.9B
Miss −2.35%
Revenue · est. $4.0B
+3.2%
Beating market
TSCO vs S&P since report
3 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−2%0+2%Jan 29Jan 30report 7:01am ETearnings−1.0%−3.3%
−2%0+2%Jan 29Jan 30earnings−1.0%−3.3%
TSCO −3.3%S&P 500 −1.0%
−2%0+2%Jan 29Jan 30report 7:01am ETearnings−1.9%−3.3%
−2%0+2%Jan 29Jan 30earnings−1.9%−3.3%
TSCO −3.3%NASDAQ −1.9%
−4%0+4%Jan 28Feb 5report 7:01am ETearnings−3.4%+5.3%
−4%0+4%Jan 28Feb 5earnings−3.4%+5.3%
TSCO +5.3%S&P 500 −3.4%
−8%−4%0+4%Jan 28Feb 5report 7:01am ETearnings−6.9%+5.3%
−8%−4%0+4%Jan 28Feb 5earnings−6.9%+5.3%
TSCO +5.3%NASDAQ −6.9%
−7.58%
Day of report
−0.16%
Next session
+6.91%
One week
+1.26%
30 days

S&P 500 over the same 30 days: −1.98%.

Did TSCO Beat Earnings? Q4 2025 Results

Tractor Supply delivered a disappointing finish to fiscal 2025, missing on both the top and bottom lines as softer discretionary demand weighed on results. The rural lifestyle retailer posted Q4 revenue of $3.90 billion, up 3.3% year over year but short of the $3.99 billion consensus estimate, while diluted EPS of $0.43 fell 8.51% below the $0.47 Wall Street had expected. The shortfall traced most directly to SG&A deleverage, as planned strategic investments and fixed cost pressure at a modest 0.3% comparable store sales gain pushed operating income down 6.5% to $297.73 million. Gross margin also edged lower to 35.1%, pressured by higher tariffs, incremental promotions, and rising delivery costs. Despite the stumble, management moved to reinforce shareholder confidence by raising the quarterly dividend 4.3% to $0.24 per share, extending a streak of 17 consecutive annual increases. Looking ahead, Tractor Supply guided fiscal 2026 diluted EPS of $2.13 to $2.23 on net sales growth of 4% to 6%, with tariff exposure flagged as a meaningful risk to the outlook.

Key Takeaways
  • New store openings contributed 3.3% of total sales in Q4
  • Comparable store sales increase of 0.3% driven by average ticket growth of 0.3%
  • Continued strength in consumable, usable and edible products
  • Contribution from Allivet acquisition
  • Owned Brands and Exclusive Product Categories represented 30.9% of Q4 sales vs. 29.6% prior year

“Our fourth quarter results came in below our expectations and reflected a shift in consumer spending, with essential categories remaining resilient while discretionary demand moderated. Against that backdrop, our team stayed focused on executing the fundamentals of the business, growing share in the farm and ranch channel and continuing to engage our customers. I want to thank our more than 52,000 Team Members for their continued dedication to the work they do every day across our stores, distribution centers and store support center.”

Tractor Supply CEO, on the earnings call

Forward Guidance & Outlook

For fiscal 2026, Tractor Supply expects net sales growth of 4% to 6%, comparable store sales growth of 1% to 3%, operating margin rate of 9.3% to 9.6%, net income of $1.11 billion to $1.17 billion, diluted EPS of $2.13 to $2.23, capital expenditures (net of sale leaseback proceeds) of $675 million to $725 million, and share repurchases of $375 million to $450 million. Capital plans include opening approximately 100 new Tractor Supply stores, continuing Project Fusion remodels and garden center transformations, completion of its 11th distribution center, and continued investment in store and digital technology.

TSCO YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$2.0B$4.0B$3.8B$3.9BRevenue$1.3B$1.4BGross Profit$318.4M$297.7MOperating Income$236.4M$227.4MNet Income
$0$2.0B$4.0BRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.