Fastenal Earnings Reports

Fastenal saw a 3.4% year-over-year increase in revenue and flat earnings, driven by strong contract customer growth and improved performance in non-fastener products, while OEM demand and fastener product lines remained relatively weak.

Fastenal Company reported a 1.9% increase in net sales for the first quarter of 2024, with net sales reaching $1,895.1 million. Net income increased by 0.9% to $297.7 million, while diluted net income per share remained unchanged at $0.52.

Fastenal Company reported a 3.7% increase in net sales for Q4 2023, driven by growth in Onsite locations and large customers. Gross profit margin improved to 45.5%, and operating income increased by 6.3%. Diluted net earnings per share rose to $0.46, up from $0.43 in the same period last year.

Fastenal Company reported a 2.4% increase in net sales for the third quarter of 2023 compared to the same period in 2022, with a daily sales growth of 4.0%. The diluted net earnings per share increased to $0.52 from $0.50 in the prior year. Growth was driven by Onsite locations, though softer end market demand impacted manufacturing, construction, and reseller customers.

Fastenal Company reported a 5.9% increase in net sales for the second quarter of 2023, driven by growth in Onsite locations and FMI technology. Diluted net earnings per share increased to $0.52, and the company continues to invest in property, equipment, and digital capabilities.

Fastenal Company reported a 9.1% increase in net sales to $1,859.1 million and a 9.5% increase in net earnings to $295.1 million for the first quarter of 2023. Diluted net earnings per share increased to $0.52 from $0.47 in the same period last year. The growth was driven by higher unit sales due to strong demand in industrial capital goods and commodities, although foreign exchange and adverse weather had negative impacts.

Fastenal Company reported an increase in net sales by 10.7% and diluted net earnings per share by 7.1% in the fourth quarter of 2022 compared to the same period in 2021. The growth was driven by higher unit sales in markets tied to industrial capital goods and commodities, which offset softer markets tied to consumer goods and construction.

Fastenal Company reported a 16.0% increase in net sales for the third quarter of 2022 compared to the same period in 2021, with diluted net earnings per share increasing from $0.42 to $0.50. The growth was driven by strong demand in markets tied to industrial capital goods and commodities, which offset softer markets tied to consumer goods and relatively lower growth in construction. The company also saw growth in sales to national account customers and through its FMI Technology and eCommerce platforms.

Fastenal Company reported an 18.0% increase in net sales for the second quarter of 2022 compared to the same period in 2021. Daily sales also increased by 18.0%. Diluted net earnings per share increased to $0.50 from $0.42 in the prior year. The company's growth was fueled by strong demand in manufacturing and construction, as well as strategic pricing actions.

Fastenal Company reported a strong first quarter in 2022, with net sales increasing by 20.3% and diluted net earnings per share rising by 27.8%. The company benefited from improved unit sales, strategic pricing actions, and growth in its Onsite and FMI Technology offerings.

Fastenal Company reported a strong fourth quarter in 2021, with net sales increasing by 12.8% and diluted net earnings per share rising by 17.6% compared to the same period in 2020. The company benefited from strong demand in the manufacturing and construction sectors, although pandemic-related effects moderated during the quarter.

Fastenal Company reported a 10.0% increase in net sales for the third quarter of 2021 compared to the same period in 2020. Diluted net earnings per share increased to $0.42 from $0.38 in the prior year. The company experienced strong growth in demand for manufacturing and construction equipment and supplies.

Fastenal Company reported a slight decrease in net sales for the second quarter of 2021, influenced by reduced PPE sales offset by increased manufacturing and construction demand. Gross profit margin improved, but operating expenses increased, resulting in a modest rise in operating income. The company continues to invest in growth drivers like Onsite locations and FMI devices, while managing supply chain challenges and inflationary pressures.

Fastenal Company reported a 3.7% increase in net sales and a 3.9% increase in net earnings for the first quarter of 2021. Daily sales increased by 5.3%, driven by higher unit sales of fastener, safety, and janitorial products. The company signed 68 new Onsite locations and 4,683 weighted FMI devices.

Fastenal Company reported a 6.4% increase in net sales for the fourth quarter of 2020 compared to the fourth quarter of 2019, driven by higher unit sales of safety and janitorial products. Diluted net earnings per share increased by 9.6% to $0.34.

Fastenal Company reported a 2.5% increase in net sales for the third quarter of 2020 compared to the same period in 2019, driven by higher unit sales of safety products. Diluted net earnings per share increased by 3.4% to $0.38. The company experienced a decline in gross profit margin due to lower product margins on COVID-specific safety products, but operating income improved due to leveraged employee and general corporate expenses.

Fastenal reported a 10.3% increase in net sales for Q2 2020 compared to Q2 2019, driven by surge sales of PPE which offset declines in traditional business. Diluted net earnings per share increased by 16.7% to $0.42. The company experienced shifts in product mix and end market performance due to pandemic-related events.

Fastenal Company reported a 4.4% increase in net sales for the first quarter of 2020, driven by growth drivers and pandemic-related sales. Diluted net earnings per share increased by 4.0% to $0.35. The company signed 4,798 industrial vending devices and 85 new Onsite locations.

Fastenal Company reported a 3.7% increase in net sales for the fourth quarter of 2019 compared to the fourth quarter of 2018, driven by higher unit sales from industrial vending and Onsite locations. However, the company experienced a general slowing in economic activity, exacerbated by holiday timing and plant shutdowns, which impacted gross profit and operating income.