Key Takeaways
- FY 2025 net sales increased 4.3% to $15.52 billion, with comparable store sales up 1.2%.
- Fourth-quarter results fell below company expectations as discretionary spending softened, offset by strength in essential categories.
- The company returned $848.5 million to shareholders in FY 2025 through dividends and share repurchases.
- For FY 2026, Tractor Supply projects net sales growth of 4% to 6% and diluted EPS of $2.13 to $2.23.
Bullet-point Summary
- Q4 2025 net sales rose 3.3% to $3.90 billion, with comparable store sales up 0.3%
- FY 2025 diluted EPS increased to $2.06, up 0.9% year over year
- Tractor Supply opened 99 new stores in FY 2025 and plans to open approximately 100 more in FY 2026
Tractor Supply Company reported financial results for the fourth quarter and fiscal year ended December 27, 2025, reflecting continued top-line growth supported by new store openings and stable demand in consumable, usable, and edible product categories.
Fourth-quarter net sales increased 3.3% to $3.90 billion, driven by store expansion, modest comparable store sales growth, and contributions from Allivet. Comparable store sales rose 0.3%, reflecting growth in average ticket size, while discretionary categories, including big-ticket items, remained under pressure.
Gross profit for the quarter increased 3.0% to $1.37 billion, with gross margin essentially flat at 35.1%. Operating income declined 6.5% year over year to $297.7 million, reflecting higher SG&A expenses tied to planned investments, delivery-related transportation costs, and promotional activity.
Full-Year Performance and Capital Allocation
For fiscal year 2025, Tractor Supply reported net sales of $15.52 billion, up 4.3% from the prior year. Gross profit increased 4.8% to $5.65 billion, while operating income remained in line with fiscal 2024 at $1.47 billion. Net income was essentially flat at $1.10 billion, and diluted EPS rose to $2.06.
The company returned $848.5 million of capital to shareholders during FY 2025 through share repurchases and dividends. During the year, Tractor Supply opened 99 new Tractor Supply stores and five Petsense by Tractor Supply locations.
Fiscal 2026 Outlook
Looking ahead, Tractor Supply issued fiscal 2026 guidance 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 plans capital expenditures of $675 million to $725 million.
Information sourced from the company’s press release.
