--- title: "Tractor Supply | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 3.592 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/285621271.md" datetime: "2026-05-07T21:12:26.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285621271.md) - [en](https://longbridge.com/en/news/285621271.md) - [zh-HK](https://longbridge.com/zh-HK/news/285621271.md) --- # Tractor Supply | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 3.592 B Revenue: As of FY2026 Q1, the actual value is USD 3.592 B, missing the estimate of USD 3.638 B. EPS: As of FY2026 Q1, the actual value is USD 0.31, missing the estimate of USD 0.3405. EBIT: As of FY2026 Q1, the actual value is USD 233.43 M. #### Net Sales and Product Categories Tractor Supply Company reported net sales of $3,592,046 thousand for the fiscal three months ended March 28, 2026, an increase of 3.6% compared to $3,466,952 thousand for the same period in 2025 . This increase was primarily driven by new store openings and a 0.5% increase in comparable store sales . In the prior year, net sales increased 2.1%, while comparable store sales decreased by 0.9% . Comparable store sales for Q1 2026 saw a 1.6% increase in comparable average transaction value, partially offset by a 1.0% decrease in comparable average transaction count . Sales from new stores contributed $109.7 million to net sales in Q1 2026, representing 3.1 percentage points of the total net sales increase, compared to $97.9 million (2.9 percentage points) in Q1 2025 . Major product categories’ percentage of net sales for Q1 2026 and Q1 2025 were: Livestock, Equine & Agriculture: 31% for both periods . Companion Animal: 26% for Q1 2026, 27% for Q1 2025 . Seasonal & Recreation: 19% for both periods . Truck, Tool & Hardware: 15% for Q1 2026, 14% for Q1 2025 . Clothing, Gift & Décor: 9% for both periods . #### Operational Performance - **Gross Profit:** Increased by 3.6% to $1,301,185 thousand in Q1 2026 from $1,255,422 thousand in Q1 2025 . - **Gross Margin:** Remained flat at 36.2% of net sales in both Q1 2026 and Q1 2025 . - **Selling, General and Administrative (SG&A) Expenses:** Increased by 6.1% to $1,067,754 thousand in Q1 2026 from $1,006,285 thousand in Q1 2025 . As a percentage of net sales, SG&A increased by 70 basis points to 29.7% in Q1 2026 from 29.0% in Q1 2025 . - **Operating Income:** Decreased by 6.3% to $233,431 thousand in Q1 2026 compared to $249,137 thousand in Q1 2025 . - **Interest Expense, Net:** $19,108 thousand in Q1 2026, compared to $19,641 thousand in Q1 2025 . - **Income Tax Expense:** $49,799 thousand in Q1 2026, compared to $50,127 thousand in Q1 2025 . The effective income tax rate was 23.2% in Q1 2026, up from 21.8% in Q1 2025 . - **Net Income:** Decreased by 8.3% to $164,524 thousand in Q1 2026 from $179,369 thousand in Q1 2025 . #### Cash Flow - **Net cash provided by operating activities:** $91,120 thousand in Q1 2026, a decrease of $125,700 thousand from $216,775 thousand in Q1 2025 . - **Net cash used in investing activities:** -$171,336 thousand in Q1 2026, a decrease of $89,700 thousand (less cash used) from -$261,054 thousand in Q1 2025 . - **Net cash provided by financing activities:** $110,376 thousand in Q1 2026, an increase of $85,900 thousand from $24,505 thousand in Q1 2025 . #### Store Growth and Capital Expenditures As of March 28, 2026, Tractor Supply Company operated 2,641 retail stores . During Q1 2026, 40 new Tractor Supply stores were opened, compared to 15 in Q1 2025 . Capital expenditures totaled -$202,610 thousand in Q1 2026, up from -$141,280 thousand in Q1 2025 . #### Debt and Shareholder Returns Total outstanding borrowings were $2,140,000 thousand at March 28, 2026, compared to $2,100,000 thousand at March 29, 2025 . The company repurchased approximately 2.3 million shares of common stock at a total cost of $118.0 million and paid quarterly cash dividends totaling $126.4 million in Q1 2026, returning $244.4 million to stockholders . As of March 28, 2026, $1.01 billion remained authorized under the share repurchase program . #### Outlook and Strategic Initiatives Projected capital expenditures for fiscal 2026 are estimated to be in the range of approximately $675 million to $725 million, which includes plans to open approximately 100 Tractor Supply stores and continue Project Fusion remodels . The company also plans to complete construction of the Nampa, Idaho distribution center, anticipated to begin operations in Q4 2026, and continue investing in store and digital technology . Management believes existing cash, expected cash flow from operations, and available debt facilities will be sufficient to fund operations and capital expenditure needs for the foreseeable future . ### Related Stocks - [TSCO.US](https://longbridge.com/en/quote/TSCO.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md) - [Keysight Technologies Reports Second Quarter 2026 Results | KEYS Stock News](https://longbridge.com/en/news/286959830.md) - [Abaxx to Launch Silver Singapore Futures on May 22, 2026 | ABXXF Stock News](https://longbridge.com/en/news/286762247.md)