Q2 sales gains in retail and rental
Tractor Supply grows sales nearly 5%
On July 24, Tractor Supply reported its financial results for Q2 2025, showing net sales increased 4.5% to $4.44 billion, up from $4.25 billion in the second quarter of 2024. The increase in net sales was driven primarily by new store openings and the growth in comparable store sales which increased 1.5%. Comparable average transactions grew 1.0%.
The retailer reported comparable store sales growth was driven by continued momentum in year-round categories, especially consumable, usable and edible (C.U.E.) products, along with solid demand for spring seasonal items. Performance was also positive in apparel, gift and décor, as well as big ticket items. These gains were partially offset by softness in select discretionary categories.
“As we enter the back half of 2025, we remain confident in our outlook, are encouraged by the momentum carrying into the quarter and continue to believe in the durability of our model,” said Hal Lawton, president and CEO of Tractor Supply. “Despite external pressures, including economic uncertainty and shifting tariffs, our year-to-date performance and visibility into the remainder of the year provide a solid foundation to reaffirm our 2025 financial outlook. With a largely U.S.-sourced assortment, strong vendor partnerships and a flexible, scalable supply chain, we are well-positioned to navigate near-term dynamics and deliver long-term value for our shareholders.”
Tractor Supply Outlook
Based on year-to-date performance and its outlook, Tractor Supply reiterates the following financial guidance for fiscal year 2025, initially provided on April 24, 2025. It expects net sales to increase between 4% and 8%, with comparable store sales flat to +4%.
United Rental up 6% year over year
In its recent financial report, United Rental showed its rental revenue increased 6.2% year-over-year to a second quarter record of $3.415 billion. Fleet productivity increased 3.3% year-over-year, while average original equipment at cost increased 3.6%. Used equipment sales in the quarter decreased 13.2% year-over-year.
Matthew Flannery, chief executive officer of United Rentals, said, “We are pleased with our solid second-quarter results, which reflect a continuation of the momentum we reported last quarter. Our updated guidance is a result of the growth we achieved across both our general rentals and specialty businesses, and supported by our customer optimism, backlogs and the momentum we are carrying into the remainder of the construction season.”
“We continue to see particular strength in our specialty business and in large projects this year, and believe our unique value proposition, coupled with our go-to-market approach, best-in-class technology offerings, and smart capital allocation will enable us to continue to generate profitable growth, strong free cash flow and compelling returns. To this point, I’m also pleased to announce a $400 million increase to our planned share repurchases this year, supported by the additional free cash flow we expect to generate in 2025.”
United Rental Outlook
Total revenue of $15.8 billion to $16.1 billion, up from the company’s previous financial outlook of $15.6 billion to $16.1 billion.
