FAST
Fastenal Company42.34
-0.24-0.56%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
FY Q4 '25
Reaffirms 2026 growth momentum, flat mfg.
Q&A reinforced the scripted optimism on double-digit 2026 sales growth as momentum-driven anticipation, not formal guidance, while clarifying heavy manufacturing demand held flat year-over-year. Price lagged from non-fastener fatigue and supplier dynamics, yet carryover aids next year; high-20s incremental margins drew no pushback. E-business trends should reaccelerate in H2 2026. Holiday shutdowns dented December sequentials but normalized in January. November, December don't matter. Management dodged specifics but exuded execution confidence amid sideways macro. Investors will eye pricing traction and early-year vending activity.
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
48.61BP/E (TTM)
39.57Basic EPS (TTM)
1.07Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Fastenal posted FY2025 net sales of $8.2B, up 8.7% y/y despite sluggish manufacturing (PMI averaged 48.9), with Q4 daily sales accelerating to +10.7% y/y versus Q3's +10.2%. Gross margin held steady at 45.0% amid tariff pressures and mix shift to lower-margin large customers, while SG&A leveraged to 24.8% of sales (down 30 bps y/y) despite higher incentives from profit growth. Operating income rose 9.6% to 20.2% margin; diluted EPS climbed 9.2% to $1.09 on 1,150M shares. Q4 manufacturing surged 12.8% y/y, FMI installations hit 136,638 MEUs (+7.6%), digital footprint reached 61.4%. Strong cash flow funded $1.0B dividends (up 12.4%) and $231M capex; debt fell to $125M. Yet cybersecurity incidents could disrupt operations.
8-K
Q4 sales up 11.1%
8-K
CEO transition announced
Fastenal announced CEO Daniel L. Florness will step down on July 16, 2026, after 10 years leading, with no disagreements cited. Jeffery M. Watts, current President and Chief Sales Officer, succeeds him that date; Florness stays as Strategic Advisor until early 2028 for smooth handover. Succession began August 2024. Transition orderly.
8-K
Fastenal names new CFO
Fastenal appointed Max H. Tunnicliff, ex-CFO of Beko Europe and Whirlpool veteran, as CFO and Senior EVP effective November 10, 2025, replacing interim CFO Sheryl Lisowski—who stays as Chief Accounting Officer. Tunnicliff gets $430,000 base, $225,000 signing bonus, and performance-tied Q4 payout. New finance lead brings global chops. No stock options this year.
10-Q
Q3 FY2025 results
Fastenal posted Q3 net sales of $2.1B, up 11.7% y/y and fueled by contract customers and pricing, while gross margin lifted to 45.3% from 44.9% on supplier initiatives despite customer mix drag. Operating income climbed 13.7% y/y to 20.7% of sales as SG&A held steady at 24.6%; diluted EPS rose 12% to $0.29, matching 1,151M shares. Cash swelled to $288M with OCF at $387M (capex $60M, FCF $327M derived); total debt sits at $195M including $70M revolver draw at 5.19%, covenant compliant. U.S. drove 83% revenue, manufacturing 76%. Strong cash flow covers dividends. Yet tariffs threaten supply costs.
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