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Fastenal Co. (symbol: FAST) is a leading industrial supply company that has grown exponentially since its inception in 1967. Starting from a single store in Winona, Minnesota, Fastenal now operates nearly 2,700 locations globally. Each store delivers tailored local inventory and personal service, ensuring that customers receive the best possible support. The company prides itself on an entrepreneurial culture that empowers employees to run their own businesses, fostering leadership and innovation.
Fastenal serves approximately 400,000 active customers through a comprehensive network of around 1,600 branches, over 1,800 on-site locations, and 15 distribution centers. Initially focused on fasteners, this category remains its largest, contributing about 30%-35% of sales. Over the years, the company has diversified its product range, now offering OEM, MRO, and construction supplies, among other categories.
The company provides a variety of supply-chain solutions including vending services and vendor-managed inventory, enhancing operational efficiencies for its customers. Fastenal's decentralized approach allows store personnel the flexibility to source products, make emergency deliveries, and manage inventory with a lean flow, thus ensuring high levels of customer satisfaction.
Fastenal's global operations are supported by robust sourcing, quality, and logistics networks, making each store a local, one-stop solution for industrial needs. The company is committed to continual business improvement, leveraging its services, solutions, and specialist expertise to benefit its diverse clientele.
Latest News: Stay updated with the most recent developments and performance metrics of Fastenal by following the latest news below:
- Source: Fastenal Company
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Fastenal has achieved significant milestones, including surpassing $1 billion in annual eCommerce revenue for the first time, alongside establishing over 100,000 active FMI Technology devices and 1,000 Onsite partnership programs. The eCommerce platform, which has been operational for over 20 years, has grown to represent 17.4% of total sales year-to-date, a substantial increase from 5.5% five years ago. Fastenal's strategic focus on enhancing eCommerce as part of its service model aims to optimize customer spending and strengthen partnerships.
Fastenal Company (Nasdaq: FAST) reported strong financial performance for Q3 2022, with net sales rising 16.0% to $1.80 billion compared to the previous year. Gross profit increased by 14.8% to $826.5 million, although the gross profit margin slightly declined to 45.9%. Net earnings also rose by 16.9% to $284.6 million, and diluted EPS grew to $0.50. The company signed 86 new Onsite locations, contributing to a 20% increase in daily sales through these sites. However, adverse weather and foreign exchange negatively impacted growth. Operating cash flow improved by 54.1% year-over-year.
Fastenal Company (Nasdaq:FAST) announced a dividend of $0.31 per share, payable on November 23, 2022, to shareholders of record by October 27, 2022. In 2022, the company declared total dividends of $1.24 per share. Fastenal, which has a history of paying dividends since 1991, aims to maintain its quarterly dividend structure. In addition, the company repurchased 2 million shares at an average price of $47.68 in Q3 2022, with additional buyback authority of up to 8 million shares.
Fastenal Company will hold a conference call on
Fastenal Company (Nasdaq: FAST) reported strong financial results for the quarter ended June 30, 2022. Net sales reached $1,778.6 million, a year-over-year increase of 18.0%. Gross profit rose to $827.6 million, maintaining a steady gross profit margin of 46.5%. Net earnings for the quarter were $287.1 million, up 19.8%, with diluted EPS at $0.50, representing a 19.7% increase. Despite challenges, including foreign exchange impacts and rising operational costs, sales growth was driven by increased demand in manufacturing and construction sectors.
Fastenal Company (Nasdaq:FAST) announced a quarterly dividend of $0.31 per share, payable on August 24, 2022, to shareholders recorded by July 27, 2022. Fastenal has consistently paid dividends since 1991, moving from annual to quarterly payments since 2011. In addition, the company initiated a stock repurchase plan, allowing up to 8 million shares to be repurchased. Financial data reveals a total dividend payout of $535 million in 2022, with an average dividend per share of $0.93. The board intends to continue dividends based on financial health.
Fastenal Company (NASDAQ:FAST) has announced a conference call set for July 13, 2022, at 9:00 a.m. central time to discuss its 2022 second quarter results and current operations. The call will be available live online, with a webcast archive accessible within an hour post-call until September 1, 2022. Fastenal operates over 3,200 locations across 25 countries, offering a wide range of industrial and safety products. Their approach focuses on local inventory and innovative solutions to enhance supply chain efficiency.
Fastenal Company (Nasdaq:FAST) reported a 20.3% increase in net sales for Q1 2022, amounting to $1,704.1 million, driven by strong demand in manufacturing and construction sectors. Daily sales grew 18.4% year-over-year, with gross profit rising 23.3% to $793.3 million, increasing gross margin to 46.6%. Net earnings reached $269.6 million, a 28% increase, resulting in diluted EPS of $0.47. Operating expenses also rose by 19.9%, but operating income improved 27.7% to $358 million.
Fastenal Company (Nasdaq:FAST) has declared a $0.31 per share cash dividend, payable on May 25, 2022, to shareholders recorded by the close of business on April 27, 2022. Fastenal has a history of dividend payments, having transitioned from annual to semi-annual in 2003, and to quarterly payments in 2011. In the past three years, dividends per share were $1.12 in 2021 and $1.40 in 2020, reflecting the company's commitment to returning value to shareholders. Future dividend payments will depend on the company's financial health and other determining factors.
Fastenal Company (NASDAQ: FAST) has announced a conference call to discuss its first quarter 2022 results on April 13, 2022, at 9:00 a.m. CT. The call will be accessible via the internet, and a presentation will be available from 6:00 a.m. CT on the same day. Fastenal operates around 3,200 locations in 25 countries and provides a range of industrial and safety products, emphasizing a tailored local inventory and innovative supply chain solutions.
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