Tractor Supply FY26 Q2 net income drops 16.1% to $360.7 million; net sales rise 2.3% to $4.54 billion

Tractor Supply posted Q2 net income down 16.1% to $360.7 million, or $0.69 per diluted share, on net sales up 2.3% to $4.54 billion.

Operating income fell 19.2% to $467.1 million; gross margin edged up 11 basis points to 37.1%.

Comparable store sales declined 1.5%, reflecting a 1.7% drop in transaction count and a 0.2% rise in average ticket.

SG&A climbed 14.4% to $1.22 billion, including $65.8 million of Petsense impairment and restructuring charges plus $9.5 million of VIP Petcare acquisition costs.

The quarterly dividend held at $0.24 per share; 3,875,000 shares were repurchased for $135.3 million, excluding the 1% excise tax.