This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260421543068\/en\/<\/a><\/p>\n \n\u201cWe delivered solid performance across the majority of our business in the first quarter, supported by our needs-based model and ongoing customer engagement. We continued to gain market share in farm and ranch and had strong double-digit growth in digital sales. Performance was positive across four of our five product categories. While companion animal trailed the Company average, we are taking decisive actions to improve its performance. I want to thank our more than 52,000 Team Members for their ongoing dedication to serving our customers and living our Mission and Values each day,\u201d said Hal Lawton, President and Chief Executive Officer of Tractor Supply.<\/p>\n \n\u201cWe remain confident in our outlook and our ability to drive continued market share gains as our customers remain engaged. The underlying health of Tractor Supply remains strong, supported by a loyal customer base, a differentiated business model and consistent execution.\u201d<\/p>\n First Quarter 2026 Results<\/span><\/b><\/p>\n \nNet sales for the first quarter of 2026 increased 3.6% to $3.59 billion from $3.47 billion in the first quarter of 2025. The increase in net sales was driven by robust new store openings and, to a lesser extent, growth in comparable store sales. Comparable store sales increased 0.5% compared to a decrease of 0.9% in the prior year\u2019s first quarter. Comparable average ticket increased 1.6%, partially offset by a comparable average transaction count decrease of 1.0%. The Company delivered strong double-digit growth in digital sales. Four of five product categories delivered positive comparable sales growth in the quarter, complemented by strength in big ticket items. Companion animal performance was below the Company average, reflecting softer demand trends, category shifts and an unfavorable product mix.<\/p>\n \nGross profit increased 3.6% to $1.30 billion from $1.26 billion in the prior year\u2019s first quarter, and gross margin was flat with the prior year at 36.2%. The gross margin rate benefited from disciplined product cost management and the continued execution of an everyday low price strategy, offset by higher tariffs and delivery-related transportation costs.<\/p>\n \nSelling, general and administrative (\u201cSG&A\u201d) expenses, including depreciation and amortization, increased 6.1% to $1.07 billion from $1.01 billion in the prior year\u2019s first quarter. As a percent of net sales, SG&A expenses increased 70 basis points to 29.7% from 29.0% in the first quarter of 2025. The increase in SG&A, as a percent of net sales, was primarily attributable to deleverage of fixed costs given the comparable store sales performance and an accelerated new store opening cadence, partially offset by an ongoing focus on productivity and cost discipline.<\/p>\n \nOperating income decreased 6.3% to $233.4 million from $249.1 million in the first quarter of 2025.<\/p>\n \nThe effective income tax rate was 23.2% compared to 21.8% in the first quarter of 2025. The effective tax rate for the prior year\u2019s first quarter was impacted by the timing of discrete items.<\/p>\n \nNet income decreased 8.3% to $164.5 million from $179.4 million in the prior year\u2019s first quarter. Diluted EPS decreased 7.2% to $0.31 compared to $0.34.<\/p>\n \nThe Company repurchased approximately 2.3 million shares of its common stock for $118.0 million and paid quarterly cash dividends totaling $126.4 million, returning a total of $244.4 million of capital to shareholders in the first quarter of 2026.<\/p>\n \nThe Company opened 40 new Tractor Supply stores and closed one Petsense by Tractor Supply store in the first quarter of 2026.<\/p>\n Fiscal Year 2026 Financial Outlook<\/span><\/b><\/p>\n \nBased on year-to-date performance and its outlook, Tractor Supply reiterates the following financial guidance for fiscal year 2026, initially provided on January 29, 2026:<\/p>\n\n
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