The earnings call highlighted some positive developments, such as an improved sales rate in September, strong digital growth, and effective cost management. However, these positives were balanced by challenges in the macroeconomic environment, including sluggish end markets and gross margin pressures due to unfavorable mix and increased import duties.

Company Guidance

During Fastenal's Q3 2024 earnings call, the company provided guidance reflecting cautious optimism amidst a challenging market environment. The third quarter saw net sales increase by 3.5%, leading to an earnings per share (EPS) of $0.52, marking a modest 1% rise from the previous year. Despite a slight negative impact from Hurricane Helene, with daily sales growth at 1.9%, the company anticipates a stable performance heading into Q4. Fastenal highlighted significant strategic moves such as signing 93 Onsites and deploying 7,281 FMI devices, underpinning their efforts to bolster customer acquisition and market share. The company's digital footprint accounted for 61.1% of sales, up from 57% a year ago. With gross margins facing a 100 basis points decline exacerbated by increased import duties and reduced supplier rebates, Fastenal remains committed to balancing cost management with growth investments, focusing on areas such as onsite personnel, IT, and business analytics to strengthen future growth prospects.

Improved Sales Rate in September

Despite challenges, the daily sales rate improved to 3.2% in September, indicating a positive trend compared to earlier months.

Strong Onsite and FMI Signings

Onsite signings increased by 12% year-over-year, and FMI signings grew significantly, with over 7,281 weighted devices signed in the third quarter.

E-commerce Growth

E-commerce sales grew by 25.5%, driven by a 30% increase in e-procurement, highlighting the success of digital initiatives.

Effective Cost Management

SG&A costs were 24.6% of sales, reflecting a slight improvement from the previous year due to increased supplier marketing credits and controlled discretionary spending.

Strong Operating Cash Flow

Operating cash flow was $297 million, representing 100% of net income, maintaining a conservatively capitalized balance sheet.

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Fastenal Company (FAST) Earnings, Revenues Date & History

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FAST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 17, 2025	2024 (Q4)	0.48 / -	0.46	―	―	―
Oct 11, 2024	2024 (Q3)	0.51 / 0.52	0.52	0.00% (0.00)
Jul 12, 2024	2024 (Q2)	0.51 / 0.51	0.52	-1.92% (-0.01)
Apr 11, 2024	2024 (Q1)	0.53 / 0.52	0.52	0.00% (0.00)
Jan 18, 2024	2023 (Q4)	0.45 / 0.46	0.43	6.98% (+0.03)
Oct 12, 2023	2023 (Q3)	0.50 / 0.52	0.5	4.00% (+0.02)
Jul 13, 2023	2023 (Q2)	0.53 / 0.52	0.5	4.00% (+0.02)
Apr 13, 2023	2023 (Q1)	0.51 / 0.52	0.47	10.64% (+0.05)
Jan 19, 2023	2022 (Q4)	0.42 / 0.43	0.4	7.50% (+0.03)
Oct 13, 2022	2022 (Q3)	0.48 / 0.50	0.42	19.05% (+0.08)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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FAST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 11, 2024	$69.63	$76.42	+9.75%
Jul 12, 2024	$63.48	$64.73	+1.97%
Apr 11, 2024	$73.51	$68.73	-6.50%
Jan 18, 2024	$61.98	$66.43	+7.18%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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