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) reported strong financial results for the year and quarter ending December 31, 2022. Net sales reached $6,980.6 million, a 16.1% increase from 2021, with quarterly sales up 10.7% to $1,695.6 million. Gross profit rose by 15.8% to $3,215.8 million, while net earnings climbed 17.5% to $1,086.9 million, with diluted EPS increasing 17.8% to $1.89. Daily sales rates improved, particularly in manufacturing. However, gross profit margin slightly declined to 45.3%. The company expanded its Onsite locations significantly, highlighting ongoing growth in demand despite some pressures from market fluctuations.
Fastenal Company (Nasdaq: FAST) has declared a quarterly dividend of $0.35 per share, payable on March 2, 2023, to shareholders recorded as of February 2, 2023. This continues the company's history of dividend payments, initiating in 1991 and evolving to quarterly distributions since 2011. In the previous year, Fastenal paid a total of $1.24 in dividends per share. The board intends to maintain quarterly dividends, contingent on financial performance and other factors. Additionally, the company has the authority to repurchase up to 6,200,000 shares under a previous authorization.
In September 1994, Fastenal opened its first international branch in Stoney Creek, Ontario, Canada, with two employees and $1,800 in sales. Fastenal's international sales have since grown significantly, achieving over $1 billion in annual sales in 2022 across 25 countries. This growth occurred alongside a tripling of international revenues from 2012 to 2022 and an increase in international employees from 1,800 to 4,500. The company emphasizes continued investment in local resources to better serve global clients, with a focus on tailored solutions and innovative strategies to enhance customer relationships.
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Fastenal Company (NASDAQ: FAST) announced its upcoming conference call set for January 19, 2023, at 9:00 a.m. Central Time. This call will cover the review of the 2022 annual and fourth quarter results along with updates on current operations. Presentations will be available starting at 6:00 a.m. Central Time on the day of the call. Fastenal serves diverse sectors with a broad range of industrial supplies, operating approximately 3,300 locations across 25 countries.
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.
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