Tractor Supply Co. reported first-quarter net sales of $3.59 billion, up 3.6% from $3.47 billion a year earlier, as new store openings and a small gain in comparable store sales lifted results.
Comparable store sales rose 0.5%, reversing a 0.9% decline in the first quarter of 2025. The improvement came from a 1.6% increase in comparable average ticket, which was partly offset by a 1.0% decline in comparable average transaction count.
Gross profit increased 3.6% to $1.30 billion from $1.26 billion, while gross margin held flat at 36.2%. Selling, general and administrative expenses climbed 6.1% to $1.07 billion from $1.01 billion, pushing SG&A to 29.7% of net sales from 29.0%.
Operating income fell 6.3% to $233.4 million from $249.1 million. Net income declined 8.3% to $164.5 million from $179.4 million, and diluted earnings per share dropped to $0.31 from $0.34, a decline of 7.2%.
The company said digital sales posted strong double-digit growth, while four of its five product categories showed positive comparable sales. Companion animal lagged the company average.
Tractor Supply opened 40 new stores in the quarter and closed one Petsense store. It also repurchased about 2.3 million shares for $118.0 million and paid $126.4 million in quarterly dividends, returning $244.4 million to shareholders.
For fiscal 2026, the company reaffirmed its outlook for net sales growth of 4% to 6%, comparable store sales growth of 1% to 3%, operating margin of 9.3% to 9.6%, net income of $1.11 billion to $1.17 billion, and diluted EPS of $2.13 to $2.23. Today the company's shares have moved -0.15% to a price of $45.89. If you want to know more, read the company's complete 8-K report here.
