- Fastenal’s third-quarter earnings per share (EPS) were 52 cents, matching both the previous year and estimates.
- Net sales reached $1.91 billion, a 3.5% increase from the previous year, slightly above the estimated $1.9 billion.
- Daily sales were $29.8 million, up 1.7% year-over-year, and exceeded the estimated $29.7 million.
- Pretax earnings as a percentage of sales decreased to 20.3%, compared to 20.9% the previous year and the estimated 20.5%.
- Gross profit margin declined to 44.9% from 45.9% year-over-year, missing the estimate of 45.4%.
- Operating income was $388.1 million, marking a 0.4% increase year-over-year, but slightly below the estimate of $390.4 million.
- The operating margin decreased to 20.3% from 21% year-over-year, just under the expected 20.4%.
- Fastenal plans to invest between $235.0 million and $255.0 million in property and equipment for the full year of 2024, up from $160.6 million in 2023.
- Analyst ratings include 3 buys, 9 holds, and 4 sells.
A look at Fastenal Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Fastenal Co, a company specializing in industrial and construction supplies, appears to have a positive long-term outlook based on its Smartkarma Smart Scores. With a growth score of 4 and a momentum score of 4, the company shows promising signs of expansion and market performance. These high scores suggest a strong potential for continued growth in both its operations and stock value over the long term.
Despite not scoring as high in value and resilience, with scores of 2 and 3 respectively, Fastenal Co‘s overall outlook seems favorable. The company’s ability to maintain a dividend score of 3 further solidifies its position in providing returns to its shareholders. With a diverse market presence across various countries, including the United States, Canada, and China, Fastenal Co is well-positioned to capitalize on opportunities for growth and stability in the industrial and construction supplies sector in the coming years.
### Fastenal Company sell industrial and construction supplies in a wholesale and retail fashion. The Company markets its products and services throughout the United States, Canada, Mexico, Puerto Rico, Singapore, China, and The Netherlands. ###
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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