Tractor Supply Q1 Earnings Miss

Tractor Supply reported Q1 FY2026 adjusted EPS of $0.31, missing consensus $0.34, and revenue $3.59 bn, below $3.63 bn estimate.
Comparable store sales rose 0.5% driven by 1.6% higher average ticket, offset by 1.0% decline in transaction count.
Operating income fell 6.3% to $233.4 m, SG&A rose 6.1%, gross margin held steady at 36.2%, shares down 3.1%.
Company opened 40 stores, returned $244.4 m to shareholders ($118 m buybacks, $126.4 m dividends), reaffirmed FY2026 EPS $2.13‑$2.23 guidance.