Filing Flows › Tractor Supply (TSCO) › Q1 2025
Tractor Supply (TSCO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Tractor Supply (TSCO) reported revenue of $3.5B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -8% from the quarter before. Operating margin was 7.2%, net earnings $179M (5.2% of revenue).
Tractor Supply, Q1 2025: revenue $3.5B (+2% year over year), operating margin 7.2%, net earnings $179M, operating cash flow $217M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | -8% | +2% |
| Gross profit | $1.3B | -6% | +3% |
| Operating profit | $249M | -22% | -5% |
| Net earnings | $179M | -24% | -9% |
| Operating cash flow | $217M | -58% | -16% |
| Free cash flow | $75.5M | -72% | -25% |
What changed
Revenue was $3.5B in Q1 2025, up 2% year over year and down 8% from the previous quarter.
Gross margin was 36.2%, up 0.2 points from a year earlier. Operating profit was $0.25B, a 7.2% margin (down 0.6 points year over year). Operating profit fell $0.01B even though revenue rose $0.07B versus a year earlier, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+15%). Net earnings were $0.18B, down 9% year over year. The effective tax rate was 21.8%.
Operating cash flow was $0.22B (down 16% year over year), 121% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.14B left free cash flow of $0.08B.
Questions
What was Tractor Supply's revenue in the first quarter 2025?
Tractor Supply (TSCO) reported revenue of $3.5B for the first quarter 2025 (Q1 2025), +2% from a year earlier and -8% from the quarter before.
Was Tractor Supply profitable in the first quarter 2025?
Operating profit was $249M (7.2% of revenue) and net earnings $179M.
Source: Tractor Supply 10-Q on SEC EDGAR.