TSCO · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
TRACTOR SUPPLY CO /DE/ · 2026-08-06 · Importance 81 · Surprise 64 · No source text
Total debt increased to $2.15 billion at June 27, 2026 from $1.77 billion at December 27, 2025 and $1.67 billion at June 28, 2025.,Revolving Credit Facility borrowings increased to $620.0 million from $230.0 million at December 27, 2025 and $140.0 million a year earlier.,Operating activities generated $653.1 million of cash in the first half, down $349.5 million from $1.00 billion in the prior-year period.,Management stated that cash balances, operating cash flow, debt-facility availability, leases, trade credit and capital-market access are expected to fund operations and capital expenditures for the next 12 months and foreseeable future.,Outstanding letters of credit declined to $38.6 million at June 27, 2026 from $78.6 million at December 27, 2025.
Key facts
- Net cash used in financing activities for first six months of fiscal 2026: $120.0 million vs $579.6 million in prior year, decrease of $459.6 million primarily due to incremental borrowings under Revolving Credit Facility of $390.0 million in 2026 vs $(160.0) in prior year (variance $550.0 million). source
- Total outstanding borrowings as of June 27, 2026: $2,170.0 million; total debt after unamortized discounts and issuance costs: $2,153.8 million; long-term debt: $2,153.8 million. source
- Outstanding amounts of senior notes as of June 27, 2026: 5.25% Senior Notes $750.0 million, 1.75% Senior Notes $650.0 million, 3.70% Senior Notes $150.0 million. source
- Net cash provided by operating activities in the first six months of fiscal 2026: $653.1 million compared to $1,002.6 million in first six months of fiscal 2025, a decrease of $349.5 million. source
- Revolving Credit Facility borrowings as of June 27, 2026: $620.0 million (vs $230.0 million at December 27, 2025 and $140.0 million at June 28, 2025). source
- Net income in the first six months of fiscal 2026: $525.2 million (used in cash flow variance table). source
- Outstanding letters of credit as of June 27, 2026: $38.6 million (down from $78.6 million at December 27, 2025). source
- Company believes existing cash balances, expected cash flow, funds available under debt facilities, leases, trade credit and access to long-term debt capital markets will be sufficient to fund operations and capital expenditure needs for next 12 months and foreseeable future. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +3.8% | Net cash used in financing activities for first six months of fiscal 2026: $120.0 million vs $579.6 million in prior year, decrease of… |
| liability | negative | realized | -3.2% | Net cash used in financing activities for first six months of fiscal 2026: $120.0 million vs $579.6 million in prior year, decrease of… |
| liability | negative | realized | -3.2% | Revolving Credit Facility borrowings as of June 27, 2026: $620.0 million (vs $230.0 million at December 27, 2025 and $140.0 million at… |
| cash | negative | realized | -2.9% | Net cash provided by operating activities in the first six months of fiscal 2026: $653.1 million compared to $1,002.6 million in first six… |
| liability | negative | realized | — | Total outstanding borrowings as of June 27, 2026: $2,170.0 million; total debt after unamortized discounts and issuance costs: $2,153.8… |
| liability | negative | realized | — | Outstanding amounts of senior notes as of June 27, 2026: 5.25% Senior Notes $750.0 million, 1.75% Senior Notes $650.0 million, 3.70%… |