Tractor Supply Reports Q4 Revenue of $3.9B
Reports Q4 revenue $3.9B, consensus $3.99B. Reports Q4 SSS up 0.3%. "Our fourth quarter results came in below our expectations and reflected a shift in consumer spending, with essential categories remaining resilient while discretionary demand moderated. Against that backdrop, our team stayed focused on executing the fundamentals of the business, growing share in the farm and ranch channel and continuing to engage our customers. I want to thank our more than 52,000 Team Members for their continued dedication to the work they do every day across our stores, distribution centers and store support center," said Hal Lawton, President and CEO of Tractor Supply. "Overall, 2025 was a year of meaningful progress. We continued to gain market share, opened productive new stores and advanced Project Fusion and localization. At the same time, we built the capabilities needed to support Direct Sales, Final Mile and pet and animal prescriptions. As we move into 2026, we are prepared to operate with discipline across a range of economic conditions. With much of our strategic foundation now in place, we remain focused on executing our Life Out Here 2030 strategic initiatives and delivering a more consistent performance profile over time," said Lawton.
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Tractor Supply Reports Quarterly Miss Amid Consumer Spending Shift
- Quarterly Performance Decline: Tractor Supply reported fourth-quarter earnings per share of 43 cents, missing the analyst consensus of 47 cents, with sales of $3.898 billion falling short of the $4 billion expectation, indicating a shift in consumer spending towards essentials that impacted overall performance.
- Margin Pressure: Gross profit rose 3% to $1.37 billion, yet gross margin edged down to 35.1% due to rising tariffs, promotions, and transportation costs, highlighting challenges in cost control for the company.
- New Store Openings and Inventory: The company opened 31 new Tractor Supply stores and one Petsense store in Q4, with total inventory at $3.08 billion and cash equivalents at $194.109 million, indicating a balance between expansion and liquidity management.
- Cautious Future Outlook: Tractor Supply expects fiscal 2026 GAAP earnings between $2.13 and $2.23 per share, lower than the $2.32 analyst estimate, with projected net sales growth of 4% to 6%, reflecting a cautious stance towards future market conditions.
US Stock Market Volatility Driven by Earnings Reports
- Tech Earnings Impact: The S&P 500 index fell 0.41% amid mixed earnings results from tech giants, with Microsoft sinking over 10% due to disappointing cloud growth, highlighting market sensitivity to tech performance.
- Oil Price Surge: WTI crude oil prices rose more than 4% to a 4.25-month high as President Trump called for negotiations with Iran on a nuclear deal, boosting energy producers' stock prices and reflecting geopolitical impacts on the energy market.
- Unemployment Claims Data: US weekly initial unemployment claims fell by 1,000 to 209,000, indicating a slightly weaker labor market, while continuing claims dropped to a six-month low of 1.827 million, suggesting relative strength in the labor market that may influence future economic policies.
- Widening Trade Deficit: The US trade deficit for November widened to $56.8 billion, exceeding expectations of $44 billion and marking the largest deficit in four months, potentially raising concerns about slowing economic growth.
