S&P 500
7,633.20
+0.31%
Dow Jones
53,893.00
+1.14%
Nasdaq 100
29,106.20
+0.99%
Russell 2000
2,995.41
+0.37%
FTSE 100
10,904.40
+0.20%
Nikkei 225
64,309.90
+1.28%
Tractor Supply

Tractor Supply (TSCO) Q2 2026 Earnings

Reported Jul 23, 2026 at 7:03 AM ET · SEC Source

Q2 26 EPS

$0.81

MISS 2.41%

Est. $0.83

Q2 26 Revenue

$4.54B

vs S&P Since Q2 26

+12.6%

BEATING MARKET

TSCO +17.3% vs S&P +4.8%

Market Reaction

Did TSCO Beat Earnings? Q2 2026 Results

Tractor Supply delivered a disappointing second quarter, missing Wall Street expectations as a wave of restructuring charges and weakening comparable store sales weighed on results. The rural lifestyle retailer posted adjusted diluted EPS of $0.81, f… Read more Tractor Supply delivered a disappointing second quarter, missing Wall Street expectations as a wave of restructuring charges and weakening comparable store sales weighed on results. The rural lifestyle retailer posted adjusted diluted EPS of $0.81, falling short of the $0.83 consensus estimate by 2.41%, while net sales rose 2.3% to $4.54 billion. The headline story was a 1.5% decline in comparable store sales, a sharp reversal from the 1.5% comp gain posted in the year-ago quarter, with softness concentrated in May when seasonal and big-ticket categories pulled back. Compounding the pressure, $75.30 million in one-time charges tied to the planned closure of roughly 75 Petsense stores and VIP Petcare acquisition costs drove GAAP operating income down 19.2%. Looking ahead, management trimmed its fiscal 2026 outlook, now guiding for net sales growth of 2.5% to 3.5%, comparable store sales of negative 1% to flat, and adjusted diluted EPS of $1.90 to $2.00, while withdrawing its long-term financial framework entirely pending a fourth-quarter update.

Key Takeaways

  • • New store openings drove net sales growth of 2.3% despite comp store decline
  • • Disciplined product cost management and tariff-related benefits expanded adjusted gross margin by 24 basis points
  • • Consumable, usable and edible categories remained resilient overall
  • • Digital sales growth partially offset headwinds
  • • Softness in seasonal categories and big-ticket items pressured May results
  • • Companion animal category continued to underperform the company average
  • • Higher medical claims and legal settlement expenses increased SG&A
  • • Lower effective tax rate of 19.8% vs 23.2% in prior year partially offset operating income decline

TSCO Forward Guidance & Outlook

Tractor Supply updated its fiscal 2026 outlook downward: net sales growth of 2.5% to 3.5%, comparable store sales of (1%) to flat, operating margin rate of 8.0% to 8.3% (adjusted 8.5% to 8.8%), net income of $930 million to $990 million (adjusted $990 million to $1.05 billion), diluted EPS of $1.78 to $1.88 (adjusted $1.90 to $2.00). The company also withdrew its long-term financial framework introduced at the December 2024 Investor Day and expects to provide an updated framework with Q4 2026 results.

24/7 Wall St

TSCO YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

“The Tractor Supply business model demonstrated its strength and durability during the second quarter. Positive comparable store sales in April and June were more than offset by unusually adverse conditions in May, which drove second quarter results below our expectations. While we are not satisfied with our performance, we believe there are discrete headwinds impacting the majority of our end markets. Our core customer remains highly engaged, our needs-based businesses continue to perform well, and our competitive position remains strong. Tractor Supply has successfully navigated many economic cycles throughout our 88-year history, and we remain confident that the long-term demand drivers supporting our business remain intact. I want to thank our Team Members for their continued dedication to serving our customers every day.”

— Hal Lawton, Q2 2026 Earnings Press Release

Back to TSCO Stock Page