Tractor Supply misses earnings, cuts outlook “amid increasing volatility”

Tractor Supply Co. is down more than 6% after it missed Wall Street estimates for its first-quarter sales and lowered its outlook for the year.

The company reported quarterly earnings per share of $0.37, in line with what analysts polled by FactSet were expecting, but also reported sales of $3.4 billion, less than the $3.5 billion analysts were penciling in. Tractor Supply also lowered and widened its annual earnings per share guidance to $2.00 to $2.18 from $2.10 to $2.22.

“Since issuing our initial 2025 outlook, there has been a notable increase in uncertainty, in particular the introduction of new tariffs. In response, we are updating the range of our full-year outlook and providing guidance for the second quarter,” Tractor Supply CEO Hal Lawton said in a statement.

Lawton projected confidence that the company would prevail “amid increasing volatility,” adding that its products are in a “needs-based product categories” and “predominantly U.S.-sourced.”