Welcome to our dedicated page for Fastenal Co news (Ticker: FAST), a resource for investors and traders seeking the latest updates and insights on Fastenal Co stock.
Fastenal Company (Nasdaq: FAST) is an industrial supplies distributor and supply chain solutions provider whose activities generate a steady stream of company-specific news. As a participant in the industrial supplies merchant wholesalers space, Fastenal issues regular updates on earnings, dividends, leadership changes, distribution network investments, and community partnerships.
On this page, readers can follow FAST news related to quarterly and annual earnings announcements, where the company provides detailed breakdowns of sales by product category, end market, and customer type. These releases often discuss trends in fasteners, safety supplies, and other product lines, as well as metrics for Fastenal Managed Inventory (FMI), eBusiness, and its broader Digital Footprint.
Fastenal also publishes news on capital return and governance, including dividend declarations and information about share repurchase authorizations. Leadership updates, such as appointments of senior executives and planned CEO transitions, are disclosed through press releases and corresponding Form 8-K filings, offering insight into the company’s management and strategic priorities.
Beyond financial and governance topics, Fastenal’s news flow includes operational and strategic developments such as new or upgraded distribution centers, technology investments in logistics, and sponsorships or partnerships that expand its brand presence. Community-focused stories highlight collaborations with organizations like the American Red Cross and the National FFA Organization, as well as sports sponsorships in North America and Europe.
Investors, analysts, and industry observers who follow Fastenal news can use this feed to track developments affecting the company’s industrial distribution business, its global branch and distribution network, and its role in customer supply chains. Bookmark this page to monitor the latest FAST press releases and related updates as they are released.
Fastenal Company (Nasdaq: FAST) has named Jeff Watts as the new President and Chief Sales Officer, effective August 1, 2024. Watts, a 28-year veteran of the company, will take over the President role from Dan Florness, who will continue to serve as CEO and a member of the Board of Directors. Watts has been Chief Sales Officer since May 2023, overseeing global sales across 25 countries. His extensive experience includes roles such as Executive Vice President – International Sales, and Regional Vice President of Fastenal's Canadian business. Watts joined Fastenal as a part-time branch employee in 1996 and has risen through the ranks over nearly three decades.
Fastenal Company (Nasdaq:FAST) released its financial results for Q2 2024. Net sales increased by 1.8% to $1,916.2 million, with daily sales also up by 1.8%. Gross profit rose by 0.7% to $863.5 million, although gross profit as a percentage of net sales declined to 45.1% from 45.5%. Net income dropped by 1.8% to $292.7 million, with diluted net income per share at $0.51, a 2.0% decrease. Operating income fell by 2.0% to $386.9 million.
Fastenal's fastener product lines saw a 3.0% decline in daily sales rate (DSR), while non-fastener products grew by 4.2%. Onsite locations increased by 11.9%, and FMI Technology sales rose by 7.0%. SG&A expenses grew by 3.0%, with net interest expense dropping due to higher interest income.
The company returned $223.3 million to shareholders via dividends in Q2. Despite the growth in sales and Onsite locations, Fastenal faced challenges with lower pricing in certain product categories and inefficiencies in supply chain management.
The Fastenal Company (NASDAQ: FAST) has declared a cash dividend of $0.39 per share, payable on August 23, 2024, to shareholders of record as of July 26, 2024. Fastenal has a strong history of dividend payments, transitioning from annual to semi-annual, and now quarterly dividends since 2011. The company has also issued special one-time dividends in December 2008, 2012, 2020, and 2023. In 2024, Fastenal has declared dividends totaling $1.17 per share. The company continues to prioritize dividends as part of its financial strategy, though future payments will depend on financial conditions and other relevant factors. Over the past ten years, Fastenal has paid dividends totaling $10.15 per share and repurchased 31.8 million shares at an average price of $26.03.
Fastenal Company (Nasdaq:FAST) has scheduled a conference call to discuss its 2024 second quarter earnings and current operations. The call will be broadcast live on the Internet on Friday, July 12, 2024, at 9:00 a.m. central time. A presentation supplementing the earnings announcement will be available at 6:00 a.m. central time on the same day. The webcast can be accessed through Fastenal's investor relations website, and an archive will be available until September 1, 2024.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of Fastenal Co (FAST)?
What is the market cap of Fastenal Co (FAST)?
