Tesco PLC (TSCO) Earnings Call Transcripts
Tesco PLC's Latest Earnings Call - September 9, 2026
In the third quarter of fiscal 2026, Tractor Supply Company (TSCO) reported revenues of $3.2 billion, slightly below the consensus estimate of $3.3 billion, reflecting a year-over-year decline of 2%. Earnings per share (EPS) came in at $1.25, missing expectations by $0.10. Management acknowledged ongoing pressures in key market segments, particularly in farm and ranch, but expressed optimism about stabilization and potential recovery in the coming quarters. They also announced a strategic pivot to focus on existing store investments rather than new store openings, lowering their growth target for new stores from 100 to 85-90 for the upcoming year.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $3.2B (miss) |
| EPS | $1.25 (miss) |
| Gross Margin | null (null) |
| Store Growth Target | 85-90 stores (neutral) |
| Tariff Refunds | $100M-$150M (positive) |
| Pet Category Comp Change | -2.9% (positive) |
Guidance from management
Management did not provide specific guidance for 2027 but indicated a focus on maintaining or slightly improving gross margin rates year-over-year. They emphasized the importance of managing through existing cost pressures while aiming for positive transaction growth.
What analysts pressed on
Analysts expressed concerns regarding the sustainability of the recent price investments and how the company plans to navigate ongoing cost pressures in transportation and commodities. There were also questions about the potential impact of reduced store openings on long-term growth prospects.
Main topics on the call
- Market Challenges and Recovery Outlook — Management highlighted that the core farm and ranch segment, which constitutes about 40% of their total addressable market, has been under pressure for the last 6-9 months. However, CEO Hal Lawton stated, "We see ourselv...
- Tariff Refunds and Strategic Reinvestment — CFO Kurt Barton discussed the impact of tariff refunds, estimating they would be between $100 million and $150 million. He noted, "We viewed in this environment at this time, the best strategic move is to reinvest our ta...
- Pricing Strategy Adjustments — Management has increased price investments to remain competitive, with about $35 million to $40 million of tariff refunds allocated to price adjustments. Lawton mentioned, "We've seen almost a 200-point price increase in...
- Pet Category Performance and Initiatives — The pet segment has faced challenges, with a reported decline in comps. However, Lawton noted sequential improvement, stating, "We were a minus 2.9% comp in Q2... our exit rate... was better than the minus 2.9% for the q...
Read the full Tesco PLC transcript (September 9, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Tesco PLC
Tesco PLC (TSCO) is a publicly listed company in the Consumer Staples Distribution and Retail industry, within the Consumer Staples sector. It trades on LSE and is based in GB. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 91 calls on record spanning January 9, 2020 to October 8, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 91 Tesco PLC earnings call transcripts on record, spanning January 9, 2020 to October 8, 2026. Based on this history, Tesco PLC reports quarterly. The most recent call on file is dated October 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- TSCO
- Exchange
- LSE
- Country
- GB
- Sector
- Consumer Staples
- Calls on record
- 91
- First call
- January 9, 2020
- Most recent
- October 8, 2026
- Reporting cadence
- quarterly