Tractor Supply Company reported fourth quarter net sales of $3.90 billion, up 3.3% from $3.77 billion in Q4 2024. Comparable store sales increased 0.3%, driven by continued strength in consumables and edible products, partially offset by subdued discretionary spending. Gross profit rose 3.0% to $1.37 billion, while gross margin contracted slightly to 35.1% from 35.2% a year ago due to higher tariffs, elevated promotional activity and increased transportation costs. Selling, general and administrative expenses grew 6.0% to $1.07 billion, representing 27.5% of net sales versus 26.8% in the prior year, as planned investments and fixed cost deleverage outpaced productivity gains. Operating income declined 6.5% to $297.7 million, and diluted earnings per share fell 2.7% to $0.43 compared with $0.44 in the same period last year.

For fiscal 2025, Tractor Supply achieved net sales of $15.52 billion, a 4.3% increase over $14.88 billion in 2024, with comparable store sales up 1.2%. Full-year gross profit climbed 4.8% to $5.65 billion and gross margin expanded slightly to 36.4%. SG&A expenses increased 6.6% to $4.19 billion, or 27.0% of net sales. Net income remained essentially flat at $1.10 billion, while diluted EPS rose 0.9% to $2.06. Looking ahead to fiscal 2026, management forecasts net sales growth of 4%–6%, comparable store sales growth of 1%–3%, an operating margin rate of 9.3%–9.6% and diluted EPS of $2.13–$2.23, supported by approximately 100 new store openings, ongoing Project Fusion remodels and completion of the 11th distribution center.

During Q4 2025, the company repurchased approximately 2.2 million shares for $117.5 million and paid dividends of $121.4 million, returning a total of $238.9 million to shareholders. For the full year, Tractor Supply repurchased 6.6 million shares at a cost of $360.8 million and distributed $487.7 million in dividends, totaling $848.5 million in capital returns. The retailer opened 31 new Tractor Supply stores and one Petsense store in Q4, bringing the fiscal year total to 99 Tractor Supply locations and five Petsense by Tractor Supply outlets, while closing four underperforming Petsense doors.

In response to severe winter weather in Middle Tennessee, the Tractor Supply Company Foundation contributed $250,000 to the United Way of Greater Nashville’s Winter Storm Recovery Fund. This seed funding is intended to jump-start relief efforts and encourage additional donations, helping restore homes and infrastructure affected by the recent storm. The initiative underscores the company’s commitment to supporting rural communities during times of hardship.