FAST 8-K Current Reports

FASTENAL CO 8-K Report, Financial Results (Oct 14, 2026)

Fastenal (FAST) reported third-quarter 2026 results that were strong on the top line and margin. Net sales rose 15.5% year-over-year to $2,463.3 million, with daily sales up the same 15.5% (both periods had 64 business days). Growth was driven by share gains with larger customers, pricing (about 240 basis points of contribution), and broad-based demand. Contract customers grew 18.8% in daily sales versus 7.8% for non-contract customers, and manufacturing sales rose 17.2%. Operating margin expanded 80 basis points to 21.5%, and diluted EPS grew 19.8% to $0.35, as SG&A leverage (SG&A fell to 23.3% of sales from 24.6%) more than offset a 40 basis point gross margin decline to 44.8%, which was driven by customer mix shift toward larger accounts. Cash generation was the main soft spot. Operating cash flow was $421.6 million, or 105% of net income, down from 115% a year earlier, as receivables grew 19.9% year-over-year to $1,615.2 million against 15.5% sales growth. Accounts receivable rose faster than sales because larger customers carry longer payment terms. Nine-month operating cash flow conversion also slipped to 94.8% from 96.2%. Management nonetheless returned $328.4 million to shareholders (82% of net income), and total debt fell to $100.0 million from $195.0 million a year earlier. Management kept its 2026 capex guidance of $310-330 million but lowered its FMI device signings goal to 27,000-29,000 MEUs from 28,000-30,000. For investors, the quarter shows durable share gains with larger customers and healthy operating leverage, offset by mix-driven gross margin pressure and working capital absorbing cash. Gross margin also benefited from roughly 20 basis points of favorable timing items (tariff refunds, rebates), which may not recur. The lowered device signings goal and the working capital build are the metrics to watch in coming quarters.

Oct 14, 2026 8-K/A

FASTENAL CO 8-K/A Report, Executive Changes (Jul 16, 2026)

Fastenal Company (FAST) has announced a key leadership transition and a corresponding executive compensation update. The Board of Directors has elected Mr. Watts, who was previously appointed President and Chief Sales Officer in December 2025 and subsequently named President and CEO, as a director of the company. This appointment is effective as of the CEO Transition Date and fills the vacancy left by Daniel L. Florness. Mr. Watts will serve until the next annual shareholder meeting. In conjunction with his new role as CEO and director, Mr. Watts will receive a new compensation package. This includes a base salary of $650,000, prorated for 2026, along with target quarterly cash incentive awards tied to exceeding prior year's pre-tax income. He will also receive supplemental quarterly cash incentives consistent with the ROA Assets Program. Importantly, no additional equity awards are planned for Mr. Watts in 2026, though he will be eligible in 2027. This filing also confirms no undisclosed related-party transactions or arrangements concerning Mr. Watts's directorship.

Jul 16, 2026 8-K

Material AgreementsFinancial EventsExhibits & Filings

FASTENAL CO 8-K Report, Financial Results (Jul 14, 2026)

Fastenal (FAST) reported Q2 2026 results that show continued top-line momentum with operating margin holding steady. Net sales rose 14.7% year-over-year to $2,386.9 million, and daily sales grew by the same 14.7% (both periods had 64 business days). Growth was driven by share gains with larger contract customers, pricing (about 290 basis points of contribution), and a modest improvement in industrial production. Gross margin contracted 75 basis points to 44.6%, mainly from unfavorable price/cost, but SG&A leverage (SG&A fell to 23.5% of sales from 24.4%) fully offset that pressure, leaving operating margin flat at 21.0%. Diluted EPS rose 15.9% to $0.33 and net income rose 15.9% to $382.8 million. Cash generation was the soft spot in the quarter. Operating cash flow fell 4.6% to $265.7 million, only 69.4% of net income versus 84.4% a year earlier, as receivables grew 17.6% year-over-year to $1,557.4 million on strong late-quarter sales and a larger mix of customers with longer payment terms. Management attributes the gap to timing rather than a deterioration in collections, and first-half operating cash flow still rose 19.1%. The company returned $305.1 million (79.7% of net income) to shareholders through $275.4 million in dividends and $29.7 million in buybacks, and total debt fell to $120.0 million. Management also trimmed its 2026 MEU signings goal to 27,000-29,000 from 28,000-30,000, and expects capex of $310-330 million, up from $230.6 million in 2025.

Jul 14, 2026 8-K

FASTENAL CO 8-K Report, Material Agreement (Jun 23, 2026)

Fastenal Company (FAST) has filed an 8-K detailing significant amendments to its credit facilities. The company entered into a Second Amended and Restated Credit Agreement, renewing its revolving credit commitment to $835 million with an expanded accordion option to a potential total of $1.335 billion. This facility now matures on June 18, 2031, with extension options, and features modified financial covenants, notably removing the consolidated EBITDA requirement and introducing minimum interest coverage and maximum total leverage ratios. Additionally, Fastenal amended its Master Note Agreement, reducing the aggregate principal amount of outstanding Notes to $600 million but extending the issuance period to June 18, 2031, and adopting the same revised financial covenants as the credit agreement. These changes reflect an effort to streamline financial covenants and potentially enhance financial flexibility. These amendments suggest Fastenal is proactively managing its capital structure and debt agreements. The shift in covenants from an EBITDA-based requirement to interest coverage and leverage ratios indicates a focus on maintaining solvency and manageable debt levels relative to earnings and total debt. The increased accordion option on the revolving credit facility provides additional capacity for future growth or strategic initiatives, while the extension of maturity dates offers long-term financing stability. Investors should note the reduction in the Master Note Agreement's capacity but the extended timeline, balancing short-term borrowing needs with long-term financing arrangements.

Jun 23, 2026 8-K

FASTENAL CO 8-K Report, Executive Changes (Jun 12, 2026)

Fastenal Company (FAST) announced a strategic addition to its Board of Directors with the appointment of Mr. Vishal Talwar, effective June 12, 2026. This appointment expands the Board from eleven to twelve members. Mr. Talwar brings a wealth of experience in digital transformation, information technology, and data strategy, currently serving as Executive Vice President and Chief Digital and Information Officer at FedEx Corporation, and President of FedEx DataWorks. His extensive background includes leadership roles at Accenture, Wipro, Dell Technologies, and IBM, focusing on technology consulting and serving large enterprise clients. Mr. Talwar's appointment is particularly significant given the increasing importance of digital infrastructure and data analytics in the industrial distribution sector. His expertise is expected to bolster the Board's capabilities in navigating technological advancements and driving data-driven decision-making. He has also been appointed to the Nominating and Corporate Governance Committee, indicating a role in shaping the company's governance and future leadership. Investors should view this as a positive move towards strengthening the company's strategic oversight in areas critical for future growth and competitive advantage.

Jun 12, 2026 8-K

Shareholder MattersExhibits & Filings

FASTENAL CO 8-K Report, Executive Changes (Apr 29, 2026)

Fastenal Company (FAST) has filed an 8-K report on April 29, 2026, detailing key outcomes from its 2026 Annual Shareholder Meeting held on April 23, 2026. The most significant investor-facing information pertains to the shareholder approval of two new equity incentive plans: the Fastenal Company Employee Restricted Stock Unit Plan and the Fastenal Company Non-Employee Director Stock and Restricted Stock Unit Plan. These approvals are crucial as they provide the framework for future equity-based compensation for both employees and non-employee directors, which can impact shareholder value and executive/director alignment with company performance.

Apr 29, 2026 8-K

FASTENAL CO 8-K Report, Shareholder Vote Results (Apr 24, 2026)

Fastenal Company (FAST) held its Annual Meeting of Shareholders on April 23, 2026, where all management-proposed items received strong shareholder approval. The election of all eleven director nominees passed with a substantial majority of votes. Additionally, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, and approved the executive compensation plan on an advisory basis. Further, the company's proposals to approve the Employee Restricted Stock Unit Plan and the Non-Employee Director Stock and Restricted Stock Unit Plan were both overwhelmingly adopted. However, a shareholder proposal requesting an EEO-1 report disclosure policy was not approved by a significant margin. The overall outcome indicates strong support from shareholders for the company's board and its compensation and equity-based incentive plans.

Apr 24, 2026 8-K

FASTENAL CO 8-K Report, Financial Results (Apr 13, 2026)

Fastenal (FAST) reported first-quarter 2026 results that beat on growth and profitability, with net sales of $2,201.7 million, up 12.4% year-over-year on a daily sales basis, and diluted EPS of $0.30, up 13.6%. Growth was broad-based: contract customers grew 14.6% in daily sales, manufacturing grew 12.3%, and non-residential construction grew for a fourth time in fourteen quarters. Pricing contributed roughly 350 basis points of the sales increase, so underlying volume growth was meaningfully lower than the headline figure. Profitability held up despite gross margin compression. Gross margin fell 50 basis points to 44.6%, pressured by unfavorable price/cost and a structural shift toward larger customers with lower gross margins. Operating margin nonetheless expanded 20 basis points to 20.3%, driven by SG&A leverage (SG&A fell to 24.3% of sales from 25.0%). Operating cash flow of $378.4 million equaled 111% of net income, aided by inventory optimization, and the company returned $295.7 million to shareholders through dividends and buybacks. The filing also flags a higher 2026 capital spending outlook of $310 to $330 million, up from $230.6 million in 2025, driven by a replacement of the Atlanta hub and IT project delays. Management expects the tax rate to be about 24.6%, and the company reiterated its FMI device signing target of 28,000 to 30,000 MEUs. Investors will likely focus on whether volume growth can sustain against price-driven top-line growth and whether gross margin pressure eases once fastener expansion benefits anniversary in early Q2 2026.

Apr 13, 2026 8-K

FASTENAL CO 8-K Report, Financial Results (Jan 20, 2026)

Fastenal (FAST) reported fourth-quarter and full-year 2025 results that showed steady growth, with net sales rising 11.1% year over year to $2,027.4 million in Q4 and 8.7% to $8,200.5 million for the full year. Daily sales grew 11.1% in Q4 (9.1% for the year), and diluted EPS came in at $0.26 for the quarter, up 12.1%, and $1.09 for the year, up 9.2%. Growth was broad-based across manufacturing (up 12.8% in DSR terms) and contract customers (up 12.9%), while non-contract customers grew 6.0%. Management attributed the strength largely to contract signings made since early 2024 and to pricing, which added roughly 310 to 340 basis points to Q4 sales, rather than to a meaningful recovery in industrial production, which remained sluggish. Profitability was mixed. Gross margin slipped to 44.3% from 44.8% in Q4 due to inventory cost timing, supplier rebate timing, and a slightly negative price/cost spread, though the fastener expansion project is expected to lap in early Q2 2026. Operating margin edged up to 19.0% from 18.9% because SG&A leverage (25.4% of sales versus 25.9%) offset the gross margin decline. Cash generation was solid, with Q4 operating cash flow of $368.1 million (125.2% of net income), but full-year free cash flow after capex was about $1.06 billion, and dividends of $1,004.2 million consumed nearly 80% of net income. Management guided 2026 capital expenditures to $310 to $330 million, up from $230.6 million in 2025, citing a Atlanta hub replacement, trucking spend, and delayed IT projects. The company also set a 2026 FMI signing goal of 28,000 to 30,000 MEUs, versus 25,892 achieved in 2025.

Jan 20, 2026 8-K

FASTENAL CO 8-K Report, Executive Changes (Dec 22, 2025)

Fastenal (Nasdaq: FAST) announced in an 8-K filed December 22, 2025 that CEO Daniel L. Florness will step down as Chief Executive Officer effective July 16, 2026, and resign from the Board of Directors on the same date. The decision was described as voluntary and not the result of any disagreement with the company or its Board on operations, policies, or practices. Florness will remain employed as a Strategic Advisor to the new CEO until early 2028, and his compensation as CEO will be unchanged through 2026. The Board appointed Jeffery M. Watts, the company's current President and Chief Sales Officer, as his successor, effective July 16, 2026. Watts has held the President role since August 2024, which the Board Chair, Scott Satterlee, described as the start of an orderly succession plan. If shareholders re-elect Florness at the next annual meeting, the Board intends to appoint Watts to the Board in his place. The Compensation Committee will set Watts' CEO compensation at a scheduled meeting in 2026. For investors, this is a planned, well-telegraphed leadership transition rather than a sign of operational distress, and the 7-month lead time and continued advisory role for Florness support continuity. The filing does not disclose any change to strategy, guidance, or financial results. Investors should watch for the 2026 Compensation Committee decisions on Watts' pay and Florness' advisory compensation, and for any shift in sales-led execution under the new CEO.

Dec 22, 2025 8-K

FASTENAL CO 8-K Report, Executive Changes (Nov 3, 2025)

Fastenal Company (Nasdaq: FAST) disclosed in an 8-K filed November 3, 2025 that it has appointed Max H. Tunnicliff as Chief Financial Officer and Senior Executive Vice President, effective November 10, 2025. Tunnicliff, 47, most recently served as CFO of Beko Europe (since January 2024) and previously held senior finance roles at Whirlpool, including head of internal audit, VP of strategy, and CFO of the Asia Pacific region, after seven years at Deloitte in audit and advisory. The Board's October 30, 2025 decision also ends Sheryl A. Lisowski's interim CFO role (held since April 17, 2025). She will remain Executive Vice President, Chief Accounting Officer, and Treasurer, and her compensation is unchanged through year-end 2025. The filing's compensation terms are modest in structure and tied to performance. Tunnicliff receives a $430,000 annual base salary, pro-rated for 2025, and a $225,000 signing bonus in Q4 2025. His Q4 2025 bonus pays only for pre-tax income and net income growth above 100% of prior-year Q4 levels, with weightings of 0.50% and 0.35%, plus eligibility for a quarterly return-on-asset supplemental bonus. He receives no sign-on stock options; instead, he will be considered for 2026 option grants with an expected value of roughly $1.2 million, on the same schedule as other eligible employees. For investors, the change is a routine but meaningful leadership transition rather than a signal of operational stress in the filing itself. It gives Fastenal a permanent CFO with global multinational finance experience, while the continuity of Lisowski as CAO and Treasurer limits execution risk. The Regulation FD press release is furnished rather than filed, and the filing does not disclose any related-party transactions or family relationships.

Nov 3, 2025 8-K

FASTENAL CO 8-K Report, Financial Results (Oct 14, 2025)

Fastenal (FAST) reported third-quarter 2025 results on October 13, 2025, with net sales up 11.7% year over year to $2,133.3 million and daily sales growth of 11.7%, the strongest quarterly top-line growth in the period shown. Growth was broad-based across fasteners (total fastener DSR up 14.4%), safety supplies (up 9.8%), and other product lines (up 10.7%), and across both manufacturing (up 12.7%) and non-manufacturing (up 8.4%) end markets. Management attributed the acceleration partly to pricing, which contributed an estimated 240 to 270 basis points, and to growth in customer sites spending $10k+ per month, while noting that industrial production remained sluggish. Diluted EPS rose 12.3% to $0.29 (up 8.4% for the nine months to $0.84), and gross margin expanded to 45.3% from 44.9%, with operating margin reaching 20.7% versus 20.3%. Cash generation and the balance sheet were solid. Operating cash flow was $386.9 million in the quarter (up 30.3%) and $927.8 million year to date, though year-to-date cash conversion fell to 96.2% of net income as receivables and inventories absorbed cash. Trade working capital rose 11.2% year over year, with inventory up 10.5% and receivables up 12.2%. Total debt declined to $195.0 million, or 4.8% of total capital, from $240.0 million a year earlier. Fastenal returned $252.5 million to shareholders in dividends during the quarter and did not repurchase any stock. Management raised its 2025 capital expenditure guidance to $235 to $255 million, and it reaffirmed its target of 25,000 to 26,000 weighted FMI device signings for 2025, with 7,050 signed in the quarter. For investors, the key questions are whether the sales acceleration reflects durable share gains and customer signings or is mainly price-driven in a still-weak industrial backdrop, and whether working capital growth will keep pressuring free cash flow. The company also plans to change its product sales disaggregation reporting in November 2025, which may affect comparability of category data going forward.

Oct 14, 2025 8-K

Leadership ChangesShareholder MattersCorporate Changes+1

FASTENAL CO 8-K Report, Financial Results (Jul 14, 2025)

Fastenal (FAST) reported Q2 2025 results on July 14, 2025, with net sales up 8.6% year-over-year to $2,080.3 million and daily sales growth of 8.6% to $32.5 million per day. Growth was broad-based across contract and non-contract customers, manufacturing and non-manufacturing end markets, and fastener and non-fastener product lines, with pricing contributing an estimated 140 to 170 basis points. Management attributed the improvement largely to customer contract signings over the past six quarters, while noting that overall market conditions remain sluggish. The company's first non-contraction in non-residential construction in ten quarters and a 12.6% rise in trade working capital were notable details. Profitability improved meaningfully. Gross margin edged up to 45.3% from 45.1%, and operating margin expanded to 21.0% from 20.2% in the quarter, as SG&A grew only 6.3% against 8.6% sales growth. Diluted EPS was $0.29 versus $0.25 a year earlier (split-adjusted following a two-for-one stock split effective May 21, 2025). Operating cash flow of $278.6 million in the quarter was up 8.1%, though it represented a lower 84.4% of net income, reflecting heavier working capital investment in receivables and inventory. Management also lowered its 2025 weighted FASTBin/FASTVend signing goal to 25,000-26,000 MEUs from 28,000-30,000 and trimmed its property and equipment investment range to $250-270 million. The balance sheet remains conservative, with total debt of $230.0 million representing 5.7% of total capital. Shareholder dividends of $252.5 million were paid in the quarter, and no share repurchases were made. The company also flagged the One Big Beautiful Bill Act, which it expects to affect deferred tax balances but not its ongoing tax rate of approximately 24.5%.

Jul 14, 2025 8-K

FASTENAL CO 8-K Report, Executive Changes (Apr 25, 2025)

Fastenal Company (FAST) has filed an 8-K detailing key corporate actions, including a two-for-one forward stock split and amendments to its articles of incorporation. The stock split, effective after market close on May 21, 2025, will double the number of outstanding shares and increase the authorized shares to 1.6 billion. This move is often seen as a way to make the stock more accessible to a broader range of investors. The company also held its annual shareholder meeting, where all incumbent directors were re-elected and the appointment of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2025 was ratified. Shareholders also approved, on an advisory basis, the compensation of named executive officers.

Apr 25, 2025 8-K

Other EventsExhibits & Filings

FASTENAL CO 8-K Report, Corporate Update (Apr 23, 2025)

Fastenal Company (Nasdaq: FAST) filed a Form 8-K on April 23, 2025 to announce that its board of directors approved a two-for-one stock split of its outstanding common stock. The split will be implemented through an amendment to the company's Restated Articles of Incorporation, which will also proportionately increase the number of authorized common shares. The filing is an 8.01 "Other Events" disclosure and contains no financial results, guidance, or operational updates. Under the terms announced, holders of record at the close of business on May 5, 2025 will receive one additional share for every share they own. The split takes effect at the close of business on May 21, 2025, with split-adjusted trading expected to begin on or about May 22, 2025. A stock split does not change a shareholder's proportional ownership or the company's total market capitalization; it doubles the share count and, all else equal, halves the per-share price. Its primary effect is to improve share liquidity and make the stock more accessible to retail investors. For investors, the key items to track are the record date, the effective date, and the split-adjusted trading date, as well as any adjustments needed in cost basis, position sizing, and per-share metrics such as EPS and dividends. The announcement itself carries no direct fundamental information about Fastenal's business performance.

Apr 23, 2025 8-K

FASTENAL CO 8-K Report, Financial Results (Apr 11, 2025)

Fastenal (FAST) reported Q1 2025 results on April 11, 2025 with net sales of $1,959.4 million, up 3.4% year over year, or 5.0% on a daily sales basis after adjusting for one fewer selling day and the timing of Good Friday. Diluted EPS was $0.52, flat versus the prior year, and net income rose only 0.3% to $298.7 million. Gross margin compressed 40 basis points to 45.1% due to customer and product mix, fleet and freight inflation, partly offset by supplier incentives. Operating margin fell to 20.1% from 20.6% as SG&A grew 3.9%, faster than sales. Management characterized underlying business activity as sluggish, with growth driven by contract customer signings rather than broad market strength. The quality of growth showed some encouraging signs. Fastener sales returned to positive DSR growth (+1.1%) for the first time after seven flat or declining quarters, and the new supplemental customer-site disclosure shows the $50K+/month Onsite-like customer base growing 6.9% year over year to 2,502 sites. FMI Technology sales rose 9.5%, and weighted FASTBin/FASTVend installations reached 129,996 (up 12.4%), supporting the company's technology-driven share gain thesis. However, signings fell 4.6% year over year, and non-contract customers, which reflect the broader market, declined 3.6% on a DSR basis. Balance sheet and cash flow warrant attention. Operating cash flow fell 21.8% to $262.2 million, or 87.8% of net income, as receivables and inventory build consumed cash. Trade working capital rose 9.0% year over year against 3.4% sales growth. Management reiterated 2025 capital spending guidance of $265–285 million, up from $214.1 million in 2024, and an ongoing tax rate of about 24.5%. No shares were repurchased, and dividends of $246.7 million were paid. The filing itself is a press release furnished under Item 2.02 and contains no new material agreements or events.

Apr 11, 2025 8-K

Regulation FDExhibits & Filings

FASTENAL CO 8-K Report, Executive Changes (Apr 10, 2025)

Fastenal Company (FAST) announced a key leadership change via an 8-K filing on April 10, 2025. Sheryl A. Lisowski, currently Executive Vice President – Chief Accounting Officer and Treasurer, has been appointed as the interim Chief Financial Officer, effective April 17, 2025. This appointment is until a permanent CFO is named. Ms. Lisowski is a seasoned executive with extensive experience within Fastenal, having held various finance and accounting roles since joining the company in 1994, including a prior stint as interim CFO from January to August 2016. In connection with her new role, Ms. Lisowski's base salary will be increased, and she will receive a new quarterly cash incentive bonus structure tied to company-wide pre-tax and net income growth over the prior year's comparable quarter. She will also remain eligible for the existing ROA Plan. The company has confirmed no new stock options are being granted to Ms. Lisowski for this interim role, and there are no undisclosed related-party transactions. This move signals a temporary but significant shift in financial leadership while the company searches for a permanent CFO.

Apr 10, 2025 8-K

FASTENAL CO 8-K Report, Regulation FD Disclosure (Mar 13, 2025)

Fastenal Company (FAST) filed an 8-K on March 13, 2025 furnishing under Regulation FD (Item 7.01) the slide deck from a pre-scheduled Investor Day held that day. The filing itself contains no new quarterly financial results, guidance changes, or material transactions; its investor value lies in management's detailed strategic update. The filing is furnished rather than filed, so the materials are not subject to Section 18 liability. The presentation centers on the company's "Focus40" framework, which targets sales growth plus pre-tax income as a percentage of net sales of 40% or more, and on a reorganized sales model. Management described a shift from the legacy "CSP" (active account) model to a "CFC" (key account) model, with a 4Q23 reset that flattened the structure, regionalized the business, and requalified prospects. Key-account and contract-based selling now drive growth, with about 75% of business run through contract vehicles. Management cited a contract program roughly 61% of 2024 sales and noted U.S. branches have fallen from a 2013 peak of 2,408 to 1,264 while still serving 93.5% of the U.S. industrial manufacturing base within a 30-minute drive. The deck also highlights data and technology as differentiators: Fastenal Managed Inventory (FMI) device growth, FASTCrib and vending, the FAST360 digital front door, and AI initiatives with Microsoft. Customer-bucket data shows that customer sites with $10K+ annual spend (about 5% of sites) generated roughly 77% of 2024 sales, while sites under $5K (about 92% of sites) generated about 13%. Investors will want to weigh management's ambitions, including a return to historic share-related growth and a toolbox that adds capabilities over the next 36 months, against execution risk, since the deck is forward-looking and includes a safe-harbor disclaimer.

Mar 13, 2025 8-K/A

Financial EventsExhibits & Filings

FASTENAL CO 8-K/A Report, Auditor Change (Feb 6, 2025)

This 8-K/A filing from Fastenal Company (FAST) announces an amendment related to the change of its independent registered public accounting firm. The company has dismissed KPMG, LLP as its auditor, effective immediately after their completion of the audit for the fiscal year ended December 31, 2024, and the issuance of their report. The filing explicitly states there were no disagreements or reportable events with KPMG during the relevant periods, indicating a smooth transition without accounting or auditing concerns.

Feb 6, 2025 8-K

FASTENAL CO 8-K Report, Financial Results (Jan 17, 2025)

Fastenal (FAST) reported Q4 and full-year 2024 results that reflect a soft industrial backdrop. Q4 2024 net sales rose 3.7% to $1,824.5 million, but adjusted for one extra selling day, daily sales grew only 2.1%. Gross margin contracted to 44.8% from 45.5%, and SG&A deleveraged to 25.9% of sales (up 6.2% in dollar terms), pushing operating margin down to 18.9% from 20.1%. Diluted EPS was flat at $0.46 and net income fell 1.6%. Management attributed the slowdown to continued weakness in manufacturing activity, sharp production cuts by large customers during holiday shutdowns, and freight and import duty pressures. Full-year 2024 results were similarly muted: net sales grew 2.7% to $7,546.0 million, diluted EPS fell 0.6% to $2.00, and operating income declined 1.2%. Structural growth drivers remained healthy. Onsite locations grew 11.5% to 2,031, Onsite signings reached 358 (below the 375-400 goal), FMI sales rose 8.5% to 42.5% of total sales, and eBusiness daily sales grew 27.6% in Q4. The company's Digital Footprint reached 62.2% of sales, and management expects 66-68% at some point in 2025. Balance sheet and cash flow metrics weakened. Operating cash flow fell 18.1% to $1,173.3 million, or 102% of net income, as inventory investment absorbed cash. Total debt declined to $200.0 million (5.2% of total capital), and no share repurchases were made. Management guided to 2025 capital expenditures of $265-285 million, up from $214.1 million in 2024, reflecting IT, distribution hub, and FMI hardware investments. The company also flagged a 2025 FMI signings target of 28,000-30,000 MEUs. Overall, the quarter signals that Fastenal's structural growth engines are intact, but near-term margin pressure and a cautious industrial demand outlook remain the central investor concerns.

Jan 17, 2025 8-K

FASTENAL CO 8-K Report, Executive Changes (Jan 17, 2025)

Fastenal Company (FAST) has announced a director transition, with Nicholas J. Lundquist stepping down from the Board of Directors due to term limits, effective January 16, 2025. Mr. Lundquist, who had a distinguished 46-year career with Fastenal, including extensive experience in operations and sales leadership, is not seeking re-election as per company policy. His departure is amicable and not related to any operational disagreements. To fill the vacancy and maintain board size, the company has elected Brady D. Ericson as an independent director, also effective January 16, 2025. Mr. Ericson brings significant executive experience, currently serving as President and CEO of PHINIA Inc., a global leader in automotive and industrial components. His appointment to the Audit Committee is also noteworthy. This transition ensures continued independent oversight and brings fresh executive leadership perspectives to Fastenal's board.

Jan 17, 2025 8-K

Regulation FDExhibits & Filings

FASTENAL CO 8-K Report, Executive Changes (Dec 27, 2024)

Fastenal Company (FAST) has announced the upcoming resignation of its Senior Executive Vice President and Chief Financial Officer, Holden Lewis, effective April 16, 2025. Investors should note that Mr. Lewis' departure is stated to be amicable, with no disagreements cited regarding the company's operations, accounting, or financial reporting. He plans to remain in his role until the effective date and will assist in a smooth transition, which should provide continuity for the company during this period. While the immediate impact of a CFO departure can raise questions, the clear statement of no disagreement and the planned transition period are positive indicators. Investors will be keen to monitor the company's succession planning for this critical role and ensure a capable replacement is identified to maintain Fastenal's financial stability and strategic direction.

Dec 27, 2024 8-K

FASTENAL CO 8-K Report, Regulation FD Disclosure (Oct 17, 2024)

Fastenal Company (Nasdaq: FAST) filed a Form 8-K on October 17, 2024, under Item 7.01 (Regulation FD Disclosure), furnishing a press release announcing an executive leadership change. The filing contains no financial results, guidance, or other material financial metrics, so it carries limited direct financial impact for investors. The company promoted Donnalee K. Papenfuss to the newly created role of Executive Vice President of Strategy and Communications, effective November 1, 2024. She previously served as Vice President of Contract Development and Support, a role she held since February 2014, and has been with Fastenal since 1999. In the new position she will lead marketing and drive strategic initiatives in technology, sales, and environmental, social, and governance (ESG) areas, and oversee communications supporting those initiatives. Her prior remit included oversight of Blue, Fastenal's internal chatbot and digital assistant, and leadership of the company's ESG Community of Practice, which suggests a continued emphasis on technology and sustainability in the company's strategy. For investors, the announcement signals that Fastenal is formalizing a senior-level focus on its "high-touch, high-tech" model and its digital and ESG agenda. The elevation of an internal leader with a 25-year tenure points to continuity rather than a disruptive change in management. The filing does not disclose compensation changes, reporting-line details beyond the title, or any impact on operations, so investors should view it as an organizational update rather than a catalyst for valuation.

Oct 17, 2024 8-K

Financial EventsExhibits & Filings

FASTENAL CO 8-K Report, Financial Results (Oct 11, 2024)

Fastenal (FAST) reported Q3 2024 results that were essentially flat on profitability, with modest top-line growth. Net sales rose 3.5% to $1,910.2M, but adjusting for one extra selling day, daily sales grew only 1.9%. Gross margin contracted 100 basis points to 44.9% on unfavorable customer and product mix, higher Mexico-related import duties, a non-recurring shipper rebate from 2023, and lower supplier rebates. SG&A discipline (up only 2.1%) limited the damage, but operating margin still fell to 20.3% from 21.0%. Diluted EPS of $0.52 was flat year over year, and net income of $298.1M rose 0.9%. The quality of growth remains bifurcated. Fasteners declined 4.0% in daily sales, while non-fasteners grew 4.7%, and national accounts (+5.6% DSR) far outpaced non-national accounts (-4.1%). Digital and in-market initiatives are the bright spots: eBusiness daily sales grew 25.6%, the Digital Footprint reached 61.1% of sales, FMI sales rose 8.0%, and active Onsite locations grew 11.7% year over year to 1,986. Management attributed weakness in the reseller channel (-11.3%) to customers reducing channel inventory, and Hurricane Helene cost an estimated 5 to 25 basis points of daily sales. Cash generation weakened materially. Operating cash flow fell 23.5% in Q3 to $296.9M, equal to only 99.6% of net income, as inventory swung to a use of cash. Fastenal is building $30.0 to $35.0M of inventory for service and hub efficiency, about 80% of which was completed in Q3, and capex is guided to $235 to $255M for 2024, up from $160.6M in 2023. Dividends of $669.9M year to date exceeded operating cash flow of $890.5M after capex, and the company did not repurchase shares. Balance-sheet leverage stays low, with total debt at $240.0M (6.3% of total capital). Management reaffirmed its Onsite signing target of 375 to 400, now likely at the lower half, and its FMI device signing target of 26,000 to 28,000 MEUs. It guided to a roughly 24.5% ongoing tax rate.

Oct 11, 2024 8-K

FASTENAL CO 8-K Report, Auditor Change (Jul 24, 2024)

Fastenal Company (FAST) announced a change in its independent registered public accounting firm, a significant event for investors to note. The company's Audit Committee has decided to dismiss KPMG LLP, its current auditor, effective upon the completion of KPMG's audit for the fiscal year ending December 31, 2024. This decision follows a competitive selection process. Concurrently, Fastenal has decided to engage PricewaterhouseCoopers LLP (PwC) as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. This change in auditors is standard practice for many companies and does not indicate any disagreements or reportable events with KPMG. Investors should monitor future filings for any additional details regarding the transition.

Jul 24, 2024 8-K

FASTENAL CO 8-K Report, Executive Changes (Jul 12, 2024)

Fastenal Company (Nasdaq: FAST) filed an 8-K on July 12, 2024 disclosing a leadership change in its executive suite. The Board appointed Jeff Watts, a 28-year company veteran who currently serves as Chief Sales Officer, to the additional role of President, effective August 1, 2024. He succeeds Dan Florness, who is voluntarily stepping down from the President position but will remain Chief Executive Officer and a member of the Board. The filing is primarily a governance and management-succession disclosure rather than a financial event, and it contains no earnings, guidance, or capital allocation updates. Watts' compensation package is modest and tied to performance. His 2024 base salary is $550,000, prorated for his partial year as President. He will receive a quarterly bonus starting with the quarter ended September 30, 2024, equal to 1.25% of pre-tax earnings above 100% of the comparable 2023 quarter, so the bonus only pays out if earnings grow year over year. He will not receive a supplemental Return on Asset Plan bonus or additional stock options for the President appointment in 2024, though he is slated to receive commensurate options in 2025. The filing states there are no related-party transactions and no family relationships with other executives or directors. For investors, the change signals a consolidation of sales leadership under a long-tenured insider who has run Fastenal's international and Canadian businesses, which supports continuity in the company's branch-based, high-touch sales model. Florness's continued role as CEO means no change at the top of the organization. The filing does not indicate any operational or strategic shift, and the market impact is likely to be limited.

Jul 12, 2024 8-K

Shareholder MattersCorporate ChangesExhibits & Filings

FASTENAL CO 8-K Report, Financial Results (Jul 12, 2024)

Fastenal (FAST) reported Q2 2024 results with net sales of $1,916.2M, up 1.8% year over year, with daily sales growth also at 1.8%. The top line was supported by larger customers and Onsite growth, but pricing was a 30-60 basis point headwind as fastener prices deflated. Fastener sales declined 3.0% on a daily sales basis, while non-fastener products grew 4.2%, and national accounts (+5.8%) outpaced non-national accounts (-4.3%). The mix of growth was a key theme across end markets, with manufacturing up 2.7% and non-manufacturing down 1.0%. Profitability was weaker. Gross margin declined to 45.1% from 45.5% on unfavorable customer and product mix and short-term supply chain inefficiencies tied to warehousing customers, which management expects to ease through Q3 and normalize by Q4. SG&A grew 3.0%, outpacing sales, which pushed operating margin down about 80 basis points to 20.2%. Operating income fell 2.0% and diluted EPS declined 2.0% to $0.51. Management also raised its 2024 capex guidance to $235-255M from $225-245M, citing higher vending device investment driven by strong FMI signings. The balance sheet and cash flow remain solid. Operating cash flow fell 14.6% to $258.0M, or 88.1% of net income, as inventory turned into a modest use of cash. Total debt dropped to $235.0M (6.3% of total capital) from $350.0M a year earlier, and dividends of $223.3M were paid in the quarter. Net sales growth remains positive, but margin compression and the shift toward lower-margin national accounts and non-fastener products are the central issues for investors to monitor.

Jul 12, 2024 8-K

FASTENAL CO 8-K Report, Bylaw Amendment (Apr 30, 2024)

Fastenal Company (FAST) filed an 8-K report on April 29, 2024, detailing outcomes from its Annual Meeting of Shareholders held on April 25, 2024. The most significant corporate governance change approved by shareholders was the amendment to the Restated Articles of Incorporation, removing Article VI which previously required supermajority approval for certain business combinations with interested parties. This amendment, effective April 25, 2024, is designed to streamline future corporate actions and potentially enhance flexibility in strategic transactions. In addition to the governance changes, the meeting saw the election of all eleven director nominees, the ratification of KPMG LLP as the independent registered public accounting firm for fiscal year 2024, and the advisory approval of executive compensation. A shareholder proposal seeking a simple majority vote was not properly presented for a vote and would not have been approved by shareholders had it been considered.

Apr 30, 2024 8-K

FASTENAL CO 8-K Report, Financial Results (Apr 11, 2024)

Fastenal (FAST) reported first-quarter 2024 results that were modestly positive on the top line but showed clear margin pressure. Net sales rose 1.9% to $1,895.1 million, with daily sales up 1.9% on flat business days (64 in both periods). Gross margin slipped to 45.5% from 45.7%, mainly because of customer and product mix shifting toward large accounts, Onsite locations, and non-fastener products, which carry lower gross margins. SG&A deleveraged to 24.9% of sales from 24.6%, so operating income fell 0.8% to $390.2 million and operating margin contracted to 20.6% from 21.2%. Net income grew 0.9% to $297.7 million, and diluted EPS was flat at $0.52, helped by a lower tax rate of 23.6% and a sharp drop in net interest expense. The most important divergence for investors is between product and customer segments. Fasteners, Fastenal's core category, declined 4.4% in daily sales as OEM fasteners fell 4.0% and MRO fasteners fell 5.1%, while safety supplies grew 8.3% and other product lines grew 3.9%. Manufacturing sales grew 2.6%, and non-residential construction (-6.6%) and resellers (-2.5%) remained weak. National accounts grew 6.3% while non-national accounts declined 4.5%. Digital and in-market initiatives continued to advance: the Digital Footprint reached 59.2% of sales, eCommerce grew 33.6%, Onsite count rose 11.8% year over year to 1,872, and FMI device installations rose 10.5%. Balance sheet and capital allocation were strong. Operating cash flow was $335.6 million, down 13.6%, and equaled 112.7% of net income. Inventories fell 9.4% year over year to $1,496.3 million, and total debt was reduced to $200.0 million from $400.0 million. Dividends of $223.2 million were paid, with no buybacks. Management expects the 2024 capital expenditure range to rise to $225 to $245 million, driven largely by the Utah distribution center, and guides to an ongoing tax rate of about 24.5%.

Apr 11, 2024 8-K

Regulation FDExhibits & Filings

FASTENAL CO 8-K Report, Financial Results (Jan 18, 2024)

Fastenal (FAST) reported fourth-quarter and full-year 2023 results on January 18, 2024. Q4 net sales rose 3.7% to $1,758.6 million, with daily sales up 3.7% (business days flat at 62). Gross margin edged up to 45.5% from 45.3%, operating margin rose to 20.1% from 19.6%, and diluted EPS grew 8.4% to $0.46. Full-year 2023 net sales reached $7,346.7 million (+5.2%), diluted EPS was $2.02 (+6.7%), and operating cash flow was $1,432.7 million (+52.3%), equal to 124% of net earnings. Growth was uneven: Q4 saw a sharp divergence between national accounts (+8.5% DSR) and non-national accounts (-3.2%), fasteners contracted 2.3% while safety supplies grew 9.4%, and non-residential construction and reseller end markets declined. Onsite signings of 326 for the year missed expectations, citing a lengthening sales cycle, though management set a 2024 goal of 375 to 400. Balance sheet and capital return remained strong. Total debt fell to $260.0 million (7.2% of total capital) from $555.0 million a year earlier. Inventories dropped 10.8% as supply chain disruptions eased, which released working capital. Shareholders received $1,016.8 million in dividends during 2023, including a special $0.38 per share dividend paid in Q4 on top of the regular $0.35. Management guided 2024 property and equipment investment to $225 to $245 million, up from $160.6 million in 2023, and expects a 24.5% ongoing tax rate. Investors should weigh the solid margin and cash generation against slowing unit growth in fasteners, a weaker non-residential construction and reseller backdrop, and the higher 2024 capex and Onsite signing targets.

Jan 18, 2024 8-K

FASTENAL CO 8-K Report, Regulation FD Disclosure (Nov 20, 2023)

Fastenal Company (Nasdaq: FAST) announced on November 20, 2023 that its board of directors declared a special one-time cash dividend of $0.38 per share, payable December 20, 2023 to shareholders of record as of December 6, 2023. The filing is a Regulation FD disclosure furnishing the press release as Exhibit 99.1; it contains no new financial results, guidance, or operational updates. The special dividend is the fourth special dividend in Fastenal's history, following payments in December 2008, December 2012, and December 2020 (a $0.40 special). It sits on top of the regular quarterly dividend of $0.35 per share paid in each quarter of 2023. Including the special, total 2023 dividends would reach $1.78 per share, up from $1.24 in 2022 and $1.12 in 2021, and the company estimates a total 2023 dividend payout of about $1,016.7 million based on 571.6 million shares outstanding at October 31, 2023. For investors, the announcement signals strong free cash flow and a balance sheet the board considers able to support extra distributions, while management explicitly notes that the regular quarterly dividend is expected to continue and that future payouts depend on financial condition, results, and factors such as tax treatment of dividends. The special dividend was not accompanied by any change to the regular dividend policy, and the filing itself does not disclose the company's operating performance for the period.

Nov 20, 2023 8-K

FASTENAL CO 8-K Report, Financial Results (Oct 12, 2023)

Fastenal (FAST) reported third-quarter 2023 results on October 12, 2023, showing modest top-line growth with improving quality of earnings. Net sales rose 2.4% to $1,845.9 million (up 4.0% on a daily sales basis, adjusting for one fewer selling day), operating income grew 2.0% to $386.7 million, and diluted EPS increased 4.1% to $0.52. Gross margin was flat at 45.9%, and operating margin held at 21.0%, though operating and administrative expenses rose to 25.0% of sales from 24.8% as slow sales growth made it harder to leverage spending. The mix of growth remains a key theme. Onsite locations (up 13.5% year over year to 1,778 sites) and digital/FMI technology (now 57.1% of sales) are driving results, with national accounts growing 8.6% in daily sales. Meanwhile, fastener sales declined 2.0% on a daily basis as manufacturing end-market softness hit production-oriented demand, and non-residential construction and reseller revenues contracted. Growth is increasingly concentrated in key-account and digital channels rather than broad-based market demand. Cash generation was a standout. Operating cash flow rose 50.5% to $388.1 million in the quarter (131.3% of net earnings), driven by working capital release as inventories fell 9.8% year over year. Total debt fell to $260.0 million (7.0% of total capital) from $555.0 million a year earlier, and the company returned $199.8 million via dividends. Management lowered its 2023 capital expenditure guidance to $180-190 million from $210-230 million on deferred distribution center projects, and expects a tax rate near 24.5%.

Oct 12, 2023 8-K

FASTENAL CO 8-K Report, Executive Changes (Oct 12, 2023)

Fastenal Company (Nasdaq: FAST) filed an 8-K on October 12, 2023 to report a senior leadership appointment. On October 11, 2023, the Board of Directors named Anthony P. Broersma as Executive Vice President-Operations, effective the same day. The filing is administrative in nature: it discloses a management change and furnishes the related press release under Regulation FD. It does not include financial results, guidance, or changes to the company's operating outlook. Broersma is a long-tenured internal promotion, having joined Fastenal in 2003 and served as Senior Vice President-Operations since June 2022. His new remit is broad and covers supply chain, compliance, supplier development, content, property management, eCommerce, supply-to-fulfillment distribution, and logistics operations. Because the role spans most of the company's operational functions, the appointment is relevant to investors who track execution across Fastenal's distribution network. The filing also states there are no undisclosed related-party transactions or family relationships tied to the appointment, and the term runs concurrently with other executive officers. For investors, this is a continuity-oriented move that elevates an operations executive with deep internal and international experience. It does not alter reported financials or capital allocation. The press release describes Fastenal as serving customers through roughly 3,400 in-market locations across 25 countries and 16 regional distribution centers, which provides context for the scale of the operations under his oversight.

Oct 12, 2023 8-K

FASTENAL CO 8-K Report, Executive Changes (Oct 12, 2023)

Fastenal Company (FAST) filed an 8-K on October 11, 2023, reporting the resignation of its Chief Operations Officer, Terry M. Owen, effective October 31, 2023. Mr. Owen has been a long-standing employee since June 1999. The company expressed gratitude for his service. This is the primary material event disclosed in the filing. While the departure of a COO can be significant, the filing does not provide details on the reasons for his resignation or any immediate succession plan. Investors should monitor future filings for updates regarding operational leadership and its potential impact on the company's performance and strategic execution.

Oct 12, 2023 8-K

FASTENAL CO 8-K Report, Financial Results (Jul 13, 2023)

Fastenal (FAST) reported Q2 2023 results on July 13, 2023 that showed continued top-line growth but margin compression. Net sales rose 5.9% year over year to $1,883.1 million, with daily sales up 5.9% on flat business days (64 in each period). Gross margin slipped to 45.5% from 46.5%, mainly due to customer and product mix shifting toward lower-margin Onsite and non-fastener products and higher overhead costs. Operating margin fell to 21.0% from 21.6%, though operating income still grew 3.0% to $394.9 million. Diluted EPS rose 4.6% to $0.52 from $0.50, and the six-month figure was $1.04 versus $0.96. The quarter's strongest signal was growth in Onsite and digital products. Digital Footprint sales reached 55.3% of total sales versus 47.9% a year earlier, and active Onsite locations grew 15.1% to 1,728. Management lowered its 2023 Onsite signing target to about 350 from 375-400, citing slower business activity. Manufacturing was the standout end market with 10.4% DSR growth, while non-residential construction declined 8.8%. Growth was also weaker than in the prior year, when pricing contributed 660-690 basis points; in Q2 2023 pricing contributed only 190-220 basis points. Cash generation improved sharply. Operating cash flow was $302.1 million, up 99.8% year over year, and year-to-date operating cash flow was $690.6 million. Inventory fell 6.0% to $1,565.4 million as supply chain disruptions eased. Total debt dropped to $350.0 million, or 9.4% of total capital, from $505.0 million a year earlier. Dividends of $399.7 million were paid in the first half of the year. Management continues to guide capital expenditures of $210-230 million for 2023, with the company expecting to trend toward the low end because of slower business activity.

Jul 13, 2023 8-K/A

FASTENAL CO 8-K/A Report, Executive Changes (Jul 12, 2023)

This 8-K/A filing by FASTENAL CO (FAST) primarily serves as an amendment to a previous 8-K, confirming the appointment of Ms. Quarshie to the company's Audit Committee. The appointment is effective as of July 11, 2023, and her term will continue until a successor is appointed. This filing does not introduce new financial information or materially alter previous disclosures beyond this specific committee membership change.

Jul 12, 2023 8-K

FASTENAL CO 8-K Report, Executive Changes (Jun 9, 2023)

Fastenal Company (FAST) announced a change to its Board of Directors with the election of Ms. Irene A. Quarshie, effective June 9, 2023. This appointment expands the Board from ten to eleven members, with Ms. Quarshie serving as an independent director until the next annual shareholder meeting. Ms. Quarshie brings extensive experience in supply chain, logistics, and risk management, currently serving as Senior Vice President of Global Supply Chain and Logistics at Target Corporation. Her background at a major retailer like Target is expected to provide valuable insights as Fastenal continues to navigate complex supply chain environments. The company stated there are no undisclosed arrangements or transactions involving Ms. Quarshie, and she will be compensated according to the existing director compensation policy.

Jun 9, 2023 8-K

Shareholder MattersExhibits & Filings

FASTENAL CO 8-K Report, Executive Changes (May 5, 2023)

Fastenal Company (FAST) announced a strategic restructuring of its executive leadership team through the creation of two new officer positions: Chief Operating Officer and Chief Sales Officer. This move, effective May 3, 2023, is designed to bolster the company's global growth initiatives. Terry M. Owen, previously Senior Executive Vice President-Sales Operations, has been appointed Chief Operating Officer, overseeing global sourcing, manufacturing, and logistics. Notably, his compensation remains unchanged. Jeffery M. Watts, formerly Executive Vice President-International Sales, will now serve as Chief Sales Officer, focusing on global sales activities. These appointments are intended to enhance operational efficiency and sales execution as Fastenal pursues its international expansion. The previous roles held by Mr. Owen and Mr. Watts will be dissolved.

May 5, 2023 8-K

FASTENAL CO 8-K Report, Shareholder Vote Results (Apr 26, 2023)

This 8-K filing from Fastenal Company reports the outcomes of its Annual Meeting of Shareholders held on April 22, 2023. The meeting saw a strong turnout, with over 516 million shares represented, establishing a quorum. The primary agenda items included the election of directors, ratification of the independent auditor, an advisory vote on executive compensation, and a determination of the frequency for future advisory compensation votes. All proposals presented to shareholders received substantial support, indicating broad approval of the company's current governance and executive compensation practices.

Apr 26, 2023 8-K

FASTENAL CO 8-K Report, Financial Results (Apr 13, 2023)

Fastenal Company (FAST) reported first-quarter 2023 results (quarter ended March 31, 2023) showing solid top-line growth and margin stability. Net sales rose 9.1% year over year to $1,859.1 million, with daily sales up 9.1% on an identical 64 business days. Growth was driven by higher unit volumes in industrial capital goods and commodity-linked markets, partly offset by a modest contraction in construction supplies, while product pricing added roughly 290 to 320 basis points as carryover from prior-year inflation actions. Gross margin contracted 90 basis points to 45.7% due to customer and product mix, pressure in non-standard other product categories, and higher overhead, partly offset by lower freight costs. Operating and administrative expense leverage lifted operating margin to 21.2% from 21.0%, and diluted EPS grew 10.4% to $0.52. Cash generation was a clear highlight. Operating cash flow rose 68.9% to $388.5 million, or 131.7% of net earnings, as working capital released cash after the supply-chain disruptions of 2022 eased. Management is gradually shortening its product ordering cycle, which lowered accounts payable and modestly reduced inventory growth relative to sales. Total debt was $400.0 million at quarter end, representing 10.9% of total capital, and dividends paid totaled $199.8 million. Management reiterated its 2023 guidance, including Onsite signings of 375 to 400, FASTBin/FASTVend signings of 23,000 to 25,000 MEUs, a capital expenditure range of $210 to $230 million, and an ongoing tax rate of about 24.5%. Key forward indicators for investors are the digital and Onsite growth engines. Daily sales through eCommerce grew 48.7%, and the Digital Footprint rose to 54.1% of sales from 47.0%. Onsite active locations increased 16.3% to 1,674, and Onsite daily sales grew roughly 20%. Manufacturing end-market daily sales rose 14.4%, while non-residential construction declined 2.4%, a mix shift investors should monitor against the company's broader cyclical exposure.

Apr 13, 2023 8-K

FASTENAL CO 8-K Report, Financial Results (Jan 19, 2023)

Fastenal (FAST) reported fourth-quarter and full-year 2022 results on January 19, 2023 (Exhibit 99.1). Q4 2022 net sales rose 10.7% to $1,695.6 million, with daily sales up 10.7% on flat business days (62 in both periods). Growth was driven by unit volume, with product pricing contributing roughly 350–380 basis points, though management noted pricing actions had moderated and spot prices for fuel, freight, and steel had eased. Gross margin compressed to 45.3% from 46.5% due to unfavorable mix, weaker margins in less-frequently-sold categories, and adverse price/cost. Operating leverage held operating margin flat at 19.6%, as operating and administrative expenses fell to 25.7% of sales from 26.9%. Diluted EPS was $0.43 versus $0.40, and full-year 2022 diluted EPS was $1.89 versus $1.60, up 17.8%. The balance sheet and cash flow picture is mixed. Q4 operating cash flow was $301.9 million, up 93.0%, aided by seasonal working capital release. Full-year operating cash flow was $941.0 million, but inventories ($1,708.0 million, up 12.1%) and receivables ($1,013.2 million, up 12.6%) grew faster than the business, and management said inventory was partly inflation-driven and partly due to earlier aggressive imports. Total debt rose to $555.0 million (14.9% of total capital) from $390.0 million, while shareholder returns totaled $949.1 million in 2022, including $237.8 million in buybacks, which had not occurred in 2021. Management guided 2023 capital expenditures to $210–230 million, an increase from 2022, and set an Onsite signings goal of 375–400 and a weighted FMI device signings goal of 23,000–25,000 MEUs. The company also indicated its ongoing tax rate should be about 24.5%. For investors, the key takeaways are sustained volume-led growth and strong digital (FMI and eCommerce) momentum, with Digital Footprint reaching 52.6% of sales, offset by margin pressure as pricing tailwinds fade and inventory and receivables build. Management's commentary that input costs have moderated, though with a lag from its long import supply chain, suggests gross margin trends will be a central focus in coming quarters.

Jan 19, 2023 8-K

Material AgreementsFinancial EventsExhibits & Filings

FASTENAL CO 8-K Report, Financial Results (Oct 13, 2022)

Fastenal (FAST) reported Q3 2022 results on October 13, 2022 that were broadly strong on the top and bottom line. Net sales rose 16.0% to $1,802.4 million, with daily sales up 16.0% on flat business days. Growth was driven by unit volume and product pricing (550 to 580 basis points, reflecting actions taken over the prior twelve months), partly offset by softer consumer-goods markets and modest construction growth. Operating income grew 19.1% to $379.2 million, with operating margin expanding to 21.0% from 20.5% as operating expense leverage more than offset a decline in gross margin to 45.9% (from 46.3%). Diluted EPS was $0.50, up 17.4% from $0.42. Gross margin pressure came from customer/product mix shifting toward larger, lower-margin national accounts and Onsite locations, unfavorable price/cost, and a $3.4 million write-down on nitrile gloves. The quarter also showed operational and digital momentum. Digital Footprint sales reached 49.5% of total sales versus 43.7% a year earlier, and eCommerce daily sales grew 50.2%. Active Onsite locations rose 14.6% year over year to 1,567, though management now expects to sign only the lower half of its 375 to 400 Onsite signing guidance for 2022. Operating cash flow improved 54.1% to $257.9 million, and the company returned $272.8 million to shareholders, including $95.3 million in share repurchases. Management also narrowed its 2022 property and equipment investment guidance to $170 to $190 million, down from $180 to $200 million, and noted that inflation's influence on inventory growth is moderating. Total debt rose to $555.0 million, or 14.9% of total capital, from 11.0% a year earlier. For investors, the central message is that Fastenal is still growing at a double-digit pace and expanding operating margins despite gross margin pressure, while pricing tailwinds are expected to fade as spot input costs decline. The main watch items are the slower pace of Onsite signings, a rising debt load that funds working capital and buybacks, and the lag before falling spot prices reach cost of goods given the company's long fastener supply chain.

Oct 13, 2022 8-K

FASTENAL CO 8-K Report, Material Agreement (Sep 30, 2022)

Fastenal Company (FAST) announced significant updates to its financing arrangements on September 28, 2022. The company amended and restated its unsecured revolving Credit Agreement, substantially increasing its borrowing capacity. The aggregate revolving credit commitment has been raised to $835 million, with an option to expand further to $1.2 billion, and the maturity date has been extended to September 28, 2027. These changes provide enhanced financial flexibility and a longer-term borrowing runway. In addition to the credit facility, Fastenal also amended its Master Note Agreement. This amendment increases the aggregate principal amount of Notes outstanding to $900 million and extends the issuance period to September 28, 2027. Both agreements now feature a benchmark replacement for LIBOR with SOFR options and include updated covenants that align with the company's evolving financial strategies, such as the removal of a restricted payment covenant and adjustments to investment and accounts receivable provisions. These updates collectively strengthen Fastenal's financial foundation and provide greater strategic maneuverability.

Sep 30, 2022 8-K

Shareholder MattersExhibits & Filings

FASTENAL CO 8-K Report, Financial Results (Jul 13, 2022)

Fastenal (FAST) reported Q2 2022 results on July 13, 2022 that showed strong top-line and earnings growth. Net sales rose 18.0% year over year to $1,778.6 million, with daily sales up 18.0%, driven by economically led demand from manufacturing and construction customers and roughly 660-690 basis points of product pricing benefit. Gross margin held flat at 46.5%, while operating and administrative expenses grew more slowly than sales, lifting operating margin to 21.6% from 21.1%. Net earnings increased 19.8% to $287.1 million and diluted EPS rose to $0.50 from $0.42. The quality of growth raised some investor questions. Operating cash flow fell 11.8% to $151.2 million, equal to only 52.7% of net earnings, as inventories rose 25.4% and receivables rose 21.5% year over year. Management attributed roughly half of the inventory build to inflation and half to added physical stock to support customers. Total debt climbed to $505.0 million from $405.0 million, and the company returned $227.8 million to shareholders in the quarter. The most notable forward-looking change was a reduction in the 2022 FMI device signings goal to 21,000-23,000 MEUs from 23,000-25,000 MEUs, because signings were improving but more slowly than needed. The company maintained its 375-400 Onsite signings target, its 2022 capex guidance of $180-200 million, and an expected ongoing tax rate of about 24.5%.

Jul 13, 2022 8-K

FASTENAL CO 8-K Report, Shareholder Vote Results (Apr 26, 2022)

This 8-K filing from Fastenal Company (FAST) details the outcomes of its Annual Meeting of Shareholders held on April 23, 2022. The primary focus of the report is the voting results on key corporate governance matters. All ten nominated directors were overwhelmingly elected, indicating strong shareholder confidence in the current board's leadership and strategy. Additionally, shareholders ratified the appointment of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2022, and approved, on an advisory basis, the compensation of named executive officers. The substantial support for director elections and the ratification of the auditor suggest a stable governance environment. The advisory approval of executive compensation, while also positive, is a non-binding vote that allows shareholders to voice their opinions on the company's pay practices for its top executives. Overall, the filing signals continued shareholder alignment with the company's management and its chosen auditors.

Apr 26, 2022 8-K

FASTENAL CO 8-K Report, Financial Results (Apr 13, 2022)

Fastenal (FAST) reported first-quarter 2022 results on April 13, 2022, with net sales rising 20.3% year over year to $1,704.1 million and daily sales up 18.4% after adjusting for one extra selling day. Growth was driven by improved unit volumes to manufacturing and construction customers, with product pricing contributing an estimated 580 to 610 basis points as the company passed through marketplace inflation in fasteners and transportation. Gross margin expanded 120 basis points to 46.6%, helped by the absence of last year's $7.8 million mask write-down and a normalization of COVID-related product margins. Operating income grew 27.7% to $358.0 million (21.0% of sales), and diluted EPS rose 27.8% to $0.47. The quarter had some cautionary elements. Operating cash flow fell 16.3% to $230.0 million, or 85.3% of net earnings, as working capital absorbed cash to support customer growth and inflation in inventory. Trade working capital rose 23.9% year over year, and inventory was up 22.6%. Management also said Onsite signings, although a record for any first quarter, were below the pace needed for the full-year goal, and FMI device signings also lagged the annual target pace, though the company kept its 2022 goals unchanged. Management guided to an approximately 24.5% ongoing tax rate and to 2022 property and equipment investment of $180 to $200 million. Overall, the filing shows strong top-line and margin momentum with balance-sheet strain from working capital. Investors would likely focus on whether sales growth and pricing hold up against rising inventory and receivables, and whether cash conversion recovers as the business normalizes.

Apr 13, 2022 8-K

FASTENAL CO 8-K Report, Financial Results (Jan 19, 2022)

Fastenal (FAST) reported fourth-quarter and full-year 2021 results that showed solid top-line growth and margin resilience despite inflation and supply chain pressures. Q4 2021 net sales rose 12.8% to $1,531.8 million (daily sales up 14.6% after adjusting for one fewer selling day), gross margin expanded 90 basis points to 46.5%, and diluted EPS grew 17.6% to $0.40. For the full year, net sales increased 6.4% to $6,010.9 million, operating income rose 6.6% to $1,217.4 million, and diluted EPS reached $1.60, up 7.4%. Pricing contributed roughly 440 to 470 basis points to Q4 net sales, which signals that much of the top-line growth reflected price increases rather than volume alone. The quality of earnings and cash generation were weaker than the headline figures suggest. Operating cash flow fell 30.1% to $770.1 million, only 83.3% of net earnings, as working capital absorbed cash to support customer growth and inflation in inventory. Accounts receivable rose 17.0% and inventory rose 13.9%. Operating and administrative expenses grew faster than sales in Q4, rising to 26.9% of net sales from 26.1%, driven by employee costs, travel normalization, and insurance. Management also flagged that Onsite and FMI device signings came in below expectations, attributing this to lengthening sales cycles from inflation, supply constraints, labor shortages, and the pandemic. Management guided to a 2022 tax rate of about 24.5%, capital expenditures of $180.0 to $200.0 million, Onsite signings of 375 to 400 annually, and weighted FMI signings of 23,000 to 25,000 MEUs. Shareholder returns were $643.7 million in dividends in 2021, with no share repurchases. Total debt was $390.0 million, or 11.4% of total capital, which indicates a conservative balance sheet. Investors should weigh strong pricing-driven growth and digital momentum against softer cash conversion, rising working capital needs, and signing targets that management itself acknowledged are at risk.

Jan 19, 2022 8-K

FASTENAL CO 8-K Report, Financial Results (Oct 12, 2021)

Fastenal (FAST) reported third-quarter 2021 results on October 12, 2021 that showed solid top-line and profitability growth. Net sales rose 10.0% year over year to $1,554.2 million, with daily sales up 10.0%, and diluted EPS increased 9.7% to $0.42. Gross margin expanded 100 basis points to 46.3%, driven by overhead leverage and a higher-margin safety products mix, while operating margin held flat at 20.5% because operating and administrative expenses rose 110 basis points as a percentage of sales, mainly due to higher employee-related costs such as bonuses, commissions, and health insurance. Growth was led by manufacturing and construction demand and national account customers (up 16.8%), partly offset by declines in government and COVID-related safety sales. Cash generation was a clear concern. Operating cash flow for the first nine months of 2021 fell 21.4% to $613.7 million, or 88.5% of net earnings, as working capital needs grew with receivables (up 13.8%) and inventory (up 4.4%) to support customer growth. Management also trimmed its 2021 Onsite signings outlook to 285-325 (from 300-350), cut FMI signings guidance to 20,500-22,000 MEUs (from 23,000-25,000), and lowered net capital expenditure guidance to $155-175 million. The company guided to an ongoing tax rate of approximately 24.5%. Management attributed the softer signings to lengthening sales cycles amid inflation, supply chain constraints, labor challenges, and renewed COVID infections. Overall, the quarter reflects healthy underlying demand and disciplined pricing execution, but investors should weigh the moderation in growth drivers (Onsite and FMI signings), rising cost pressures from inflation and labor, and weaker cash conversion against the company's strong profitability and continued dividend payments.

Oct 12, 2021 8-K

FASTENAL CO 8-K Report, Executive Changes (Aug 16, 2021)

Fastenal Company (FAST) announced a change to its Board of Directors via an 8-K filing on August 16, 2021. The key event is the election of Ms. Sarah N. Nielsen as an independent director, effective August 16, 2021. This appointment increases the size of the Board from nine to ten members. Ms. Nielsen brings extensive financial and leadership experience, having served as CFO of First Citizens Bank since November 2017 and previously as VP and CFO of Winnebago Industries, Inc. for over a decade. Her background includes significant experience in strategic acquisitions, financial oversight, and strategic sourcing, which are valuable assets for Fastenal's ongoing operations and governance. Ms. Nielsen's appointment to the Audit Committee further strengthens the Board's oversight capabilities. Investors can view this as a positive development, as it brings a new, experienced financial executive onto the Board who can contribute to strategic decision-making and corporate governance. The filing also confirms no undisclosed arrangements or transactions involving Ms. Nielsen, and her compensation will align with the company's standard director compensation policy.

Aug 16, 2021 8-K