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Mar 29
Tractor Supply Q1 2025 Earnings Report
Tractor Supply reported modest growth in Q1 2025 amid a challenging macroeconomic environment.
Key Takeaways
The company achieved a 2.1% increase in net sales driven by new store openings and resilient demand in year-round categories, despite a drop in comparable store sales and higher SG&A expenses.
Net sales grew 2.1% to $3.47 billion, supported by new stores and acquisition contributions.
Comparable store sales declined 0.9%, impacted by soft spring seasonal sales.
Net income dropped 9.5% year-over-year to $179.4 million.
Adjusted EPS came in at $0.34, down from $0.37 in Q1 2024.
Tractor Supply
Tractor Supply
Tractor Supply Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Tractor Supply provided Q2 2025 guidance with modest growth expectations amid tariff and macroeconomic pressures.
Positive Outlook
- Net sales growth expected at 3% to 4%
- Comparable store sales expected to be flat to up 1%
- Diluted EPS guidance between $0.79 and $0.81
- Strong focus on cost control and productivity
- Active management of vendor and supply chain impacts
Challenges Ahead
- New tariffs contributing to increased uncertainty
- Deleveraging of fixed costs due to lower comps
- Spring seasonal categories underperforming
- Increased SG&A due to expansion and infrastructure costs
- Ongoing macroeconomic headwinds impacting consumer spending