Tractor Supply Company · NASDAQ:TSCO
Tractor Supply — Q4 2025 Earnings Presentation
15 slides from Tractor Supply's earnings presentation, Jan 29, 2026
Slide 1: Supplemental Financial Presentation Q4 2025 Earnings Highlights
SUPPLEMENTAL FINANCIAL PRESENTATION January 29, 2026 Q4 2025 EARNINGS HIGHLIGHTS
Slide 2: Safe Harbor
SAFE HARBOR The forward-looking statements included in this presentation are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts, which address activities, events, or developments that we expect
Slide 3: Thank You to the Team!
Thank You to the Team! 3
Slide 4: 2025 Operational Milestones
2025 Operational Milestones Opened 99 New Tractor Supply Stores and Five New Petsense Stores Nearly 60% of Stores now in Fusion Layout and More Than 700 Garden Centers High Single-Digit Digital Sales Growth Launched OpenAI Across Organization Broke Ground on 11th DC Successfully Integrated Allivet N
Slide 5: Life Out Here 2030 Progress
Life Out Here 2030 Progress Localization Direct Sales Pet & Animal Final Mile Retail Media Exclusive Prescriptions Delivery Brands We are making significant progress on our Life Out Here 2030 strategy 5
Slide 6: Financial Highlights Q4 2025: Net Sales and Comp Sales
NET SALES COMP SALES FINANCIAL HIGHLIGHTS $3.90B $3.77B 0.6% 0.3% Q4 2024 Q4 2025 Q4 2024 Q4 2025 Comparable Ticket Increase of 0.3% Continued Strength in Consumable, Usable and Edible Products Q4 Offset by Lack of Emergency Response and Ongoing Pressure in Discretionary Categories Including Big Tic
Slide 7: Financial Highlights Q4 2025: Gross Margin and SG&A
GROSS MARGIN SG&A EXPENSES FINANCIAL as a % of net sales as a % of net sales HIGHLIGHTS 35.2% 35.1% 27.5% 26.8% Q4 2024 Q4 2025 Q4 2024 Q4 2025 Key Drivers Key Drivers Ongoing Product Cost Management Deleverage Primarily Attributed to Planned Investments and Fixed Cost Deleverage Offset by Higher Ta
Slide 8: Financial Highlights Q4 2025: Profitability
Profitability FINANCIAL OPERATING NET DILUTED HIGHLIGHTS MARGIN INCOME EPS as a % of net sales 8.4% $236.4M $0.44 $0.43 7.6% $227.4M Q4 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 2025 8
Slide 9: Financial Highlights FY 2025: Net Sales and Comp Sales
NET SALES COMP SALES FINANCIAL HIGHLIGHTS $15.52B $14.88B 1.2% 0.2% 2024 2025 2024 2025 Comparable Transaction Increase of 1.4% Comparable Ticket Decrease of 0.2% FY Opened 99 New Tractor Supply Stores and Five Petsense Stores Successfully Integrated Allivet 2025 9
Slide 10: Financial Highlights FY 2025: Gross Margin and SG&A
GROSS MARGIN SG&A EXPENSES as a % of net sales FINANCIAL as a % of net sales HIGHLIGHTS 36.3% 36.4% 27.0% 26.4% 2024 2025 2024 2025 Key Drivers Key Drivers Ongoing Cost Management Initiatives Planned Strategic Initiatives Execution of Everyday Low Price Strategy Disciplined Focus on Cost Control and
Slide 11: Financial Highlights FY 2025: Profitability
Profitability FINANCIAL OPERATING NET DILUTED HIGHLIGHTS MARGIN INCOME EPS as a % of net sales 9.9% $2.06 $1.10B $1.10B 9.5% $2.04 FY 2024 2025 2024 2025 2024 2025 2025 11
Slide 12: Key Assumptions for 2026
Key Assumptions for 2026 • Anchoring to the midpoint of guidance • Sales growth driven by new store openings and improving comp sales • Modest gross margin expansion • Measured SG&A deleverage • Depreciation and amortization growth to moderate • Operating margin inflection point in the low two perce
Slide 13: 2026 Guidance
2026 Guidance Net Sales +4% to +6% Comparable Store Sales +1% to +3% Operating Margin Rate 9.3% to 9.6% Net Income $1.11 billion to $1.17 billion Diluted Earnings per Share $2.13 to $2.23 Net Capital Expenditures $675 million to $725 million Share Repurchases $375 million to $450 million 13
Slide 14: Strategic Priorities
Deliver Legendary Customer Experiences Advance Our ONETractor Capabilities Operate the Tractor Way Go the Country Mile for Our Team Generate Healthy Shareholder Return 14
Slide 15: Committed to being the dependable supplier of Out Here Lifestyle solutions
We are committed to being an integral part of our customers’ lives as the dependable supplier of Out Here Lifestyle solutions. Anytime. Anywhere. Any way. 15
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