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Sep 30, 2023
Fastenal Q3 2023 Earnings Report
Fastenal's Q3 2023 performance saw increased unit sales offset by softer end market demand, with daily sales growth of 4.0% and diluted net earnings per share of $0.52.
Key Takeaways
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.
Net sales increased by 2.4% compared to Q3 2022, with daily sales up by 4.0%.
Diluted net earnings per share rose to $0.52, up from $0.50 in the third quarter of the previous year.
The company signed 93 new Onsite locations, totaling 1,778 active sites, marking a 13.5% increase year-over-year.
Daily sales through eCommerce grew by 41.3%, representing 24.5% of total sales.
Forward Guidance
The company expects its investment in property and equipment to be within a range of $180.0 to $190.0 million for the full year of 2023, reflecting a deferral of several distribution center-related projects.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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