Key Takeaways
- Tractor Supply Company reported fiscal year 2025 net sales of $15.52 billion, up 4.3% year over year.
- Fourth quarter 2025 net sales increased 3.3% to $3.90 billion, with comparable store sales up 0.3%.
- Fiscal year 2025 diluted EPS increased to $2.06, while fourth quarter diluted EPS was $0.43.
- The company returned $848.5 million to shareholders during fiscal 2025 through dividends and share repurchases.
- Tractor Supply Company issued fiscal 2026 guidance projecting net sales growth of 4% to 6%.
Tractor Supply Company Reports Q4 and Fiscal Year 2025 Performance
Tractor Supply Company (NASDAQ: TSCO) announced its financial results for the fourth quarter and fiscal year ended December 27, 2025. The company reported fourth quarter net sales of $3.90 billion, representing a 3.3% increase compared to the same period in 2024. Comparable store sales increased 0.3%, driven by strength in consumable, usable, and edible product categories.
Fiscal year 2025 net sales rose 4.3% to $15.52 billion, supported by new store openings and a 1.2% increase in comparable store sales. Net income for the full year remained essentially flat at $1.10 billion, while diluted earnings per share increased to $2.06.
“Our fourth quarter results came in below our expectations and reflected a shift in consumer spending,” said Hal Lawton, President and Chief Executive Officer of Tractor Supply Company.
Tractor Supply Company Financial Highlights and Operational Update
Fourth Quarter and Full-Year Results
Gross profit for the fourth quarter increased 3.0% to $1.37 billion, while gross margin edged slightly lower to 35.1%. Operating income for the quarter declined 6.5% to $297.7 million, reflecting higher SG&A expenses and tariff-related cost pressures.
For fiscal year 2025, gross profit rose to $5.65 billion, with operating income totaling $1.47 billion, in line with the prior year. During the year, Tractor Supply Company opened 99 new Tractor Supply stores and five new Petsense by Tractor Supply stores, while closing four Petsense locations.
The company returned $238.9 million to shareholders in the fourth quarter and $848.5 million for the full year through dividends and share repurchases.
“Overall, 2025 was a year of meaningful progress,” Lawton said. “We continued to gain market share, opened productive new stores and advanced Project Fusion and localization.”
Fiscal 2026 Outlook and Capital Plans
Guidance and Investment Priorities
Tractor Supply Company provided financial guidance for fiscal year 2026, projecting net sales growth of 4% to 6% and comparable store sales growth of 1% to 3%. The company expects diluted EPS in the range of $2.13 to $2.23 and net income between $1.11 billion and $1.17 billion.
Capital expenditures for 2026 are expected to total $675 million to $725 million, supporting approximately 100 new store openings, Project Fusion remodels, completion of an additional distribution center, and continued investment in store and digital technology.
Lawton stated that the company is prepared to operate with discipline across a range of economic conditions as it continues executing its Life Out Here 2030 strategic initiatives.
Read the complete financial results.
