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Sep 30, 2020
Fastenal Q3 2020 Earnings Report
Fastenal's financial performance saw a normalization following a heavily pandemic-influenced second quarter, with net sales increasing and diluted net earnings per share also increasing.
Key Takeaways
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.
Net sales increased by 2.5% compared to Q3 2019, primarily driven by safety product sales.
Diluted net earnings per share increased by 3.4% to $0.38.
Gross profit margin declined due to lower product margins on COVID-specific safety products.
Operating income, as a percentage of net sales, increased to 20.5% from 20.4% in Q3 2019.
Forward Guidance
The company did not provide specific forward guidance for Q4 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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