Stock Data
$1.18 (2.53%)
Asset Type
Common Stock
Exchange
NASDAQ
Currency
USD
Country
USA
Sector
INDUSTRIALS
Industry
INDUSTRIAL DISTRIBUTION
Fastenal Company specializes in the distribution of industrial and construction supplies, primarily focusing on fasteners like bolts, nuts, and screws, as well as various related hardware. Founded in 1967 and based in Winona, Minnesota, Fastenal not only serves the United States but also has a presence in Canada, Mexico, and other international markets. It caters to a wide range of customers, including manufacturers, construction projects, maintenance and repair operations, and governmental entities, offering products essential for manufacturing, construction, and maintenance tasks.
Fastenal's industrial surge accelerates as contract customers now drive three-quarters of revenue, posting 0.33 EPS and 2.39B revenue that both cleared forecasts while June sales soared 20.5% year-over-year. The shift toward larger accounts, growing daily sales 17.6% vs. 7.3% for non-contract, enabled the distributor to absorb 75 basis points of gross margin pressure through SG&A discipline and still grow net income 15.9%.
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