Tractor Supply Company , the largest rural lifestyle retailer in the United States (the “Company”), today reported financial results for its third quarter ended September 27, 2025.
cSeptember 27, 2025. Net sales rose 7.2% to a record $3.72 billion, driven by growth in comparable store sales, new store openings, and contributions from Allivet. Comparable store sales increased 3.9%, reflecting a 2.7% rise in average transaction count and 1.2% growth in average ticket size. Growth was fueled by strong performance in spring and summer seasonal products and continued momentum in core categories, particularly consumable, usable, and edible (C.U.E.) products.
Gross profit increased 7.7% to $1.39 billion, with gross margin improving slightly to 37.4% due to product cost management and an everyday low price strategy, partially offset by tariffs and higher transportation costs. Selling, general, and administrative expenses grew 8.4% to $1.05 billion, representing 28.1% of net sales, primarily due to planned investments, higher incentive compensation, and lower sale-leaseback benefits, partially offset by productivity gains and fixed cost leverage. Operating income rose 5.6% to $342.7 million, and net income increased 7.4% to $259.3 million, with diluted earnings per share of $0.49, up 8.6% from $0.45 in the prior year.
During the quarter, Tractor Supply repurchased approximately 1.3 million shares for $75.4 million and paid $121.9 million in quarterly dividends, returning a total of $197.3 million to shareholders. The company also opened 29 new Tractor Supply stores while closing one Petsense location.
Looking ahead, Tractor Supply narrowed its fiscal year 2025 guidance based on year-to-date performance and a projected comparable store sales increase of 1% to 5% in the fourth quarter. The company now expects net sales growth of 4.6% to 5.6%, comparable store sales growth of 1.4% to 2.4%, an operating margin rate of 9.5% to 9.7%, net income of $1.09 billion to $1.14 billion, and diluted earnings per share of $2.06 to $2.13.
Hal Lawton, President and CEO, noted that the company’s strong third-quarter performance was driven by share gains, agile execution through an extended summer season, and healthy transaction growth. He highlighted the early momentum in Tractor Supply’s Life Out Here 2030 strategic initiatives, focused on enhancing the customer experience, expanding capabilities, and strengthening the foundation for long-term growth.
Tractor Supply serves recreational farmers, ranchers, homeowners, gardeners, and pet enthusiasts through its network of stores and online platforms. Its family of brands, including Petsense and Allivet, allows the company to provide comprehensive solutions for pet care, livestock wellness, and rural living. With over 52,000 team members, Tractor Supply continues to focus on delivering legendary service and supporting customers in living “Life Out Here” across all channels.
The company hosted a conference call on October 23, 2025, to discuss third-quarter results, with a webcast and investor presentation available on its investor relations website.
About Tractor Supply Company
For more than 85 years, Tractor Supply Company (NASDAQ: TSCO) has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 296 on the Fortune 500. The Company’s more than 52,000 Team Members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. In store and online, Tractor Supply provides what customers need – anytime, anywhere, any way they choose at the low prices they deserve.
As part of the Company’s commitment to caring for animals of all kinds, Tractor Supply is proud to include Petsense by Tractor Supply, a pet specialty retailer, and Allivet, a leading online pet pharmacy, in its family of brands. Together, Tractor Supply is able to provide comprehensive solutions for pet care, livestock wellness and rural living, ensuring customers and their animals thrive. From its stores to the customer’s doorstep, Tractor Supply is here to serve and support Life Out Here.
