Tractor Supply Q1 Net Sales +3.6% to $3.59B; Net Income -8.3%

Tractor Supply reported a 3.6% increase in net sales to $3.59 billion for the first quarter of fiscal 2026, primarily driven by new store openings and a 0.5% rise in comparable store sales. However, net income decreased by 8.3% to $164.5 million, resulting in diluted earnings per share of $0.31, down from $0.34 in the prior year. The company's gross margin remained flat, while selling, general and administrative expenses increased as a percentage of net sales. Tractor Supply also repurchased $118.0 million in common stock and paid $126.4 million in cash dividends during the quarter, and is assessing the impact of a recent Supreme Court ruling on tariffs.