- Fastenal’s net capital expenditure forecast ranges from $225.0 million to $245.0 million, missing expectations of $222 million.
- Net sales for the first quarter totaled $1.90 billion, marginally up by 1.9% year-on-year (y/y), yet slightly below the estimated $1.91 billion.
- Daily sales saw an increase of 2.1% y/y, with a figure of $29.6 million against the expected $30 million.
- Gross profit margin remains steady, matching an estimate of 45.5%, but slightly down compared to 45.7% y/y.
- Operating income is down by 0.8% y/y at $390.2 million, falling short of the estimated $404.3 million.
- Operating margin stands at 20.6%, a decrease from 21.2% y/y, which is also below the estimated 21.1%.
- Fastenal expects its investment in property and equipment, net of proceeds from sales, to escalate from $160.6 million in 2023 to a range of $225.0 to $245.0 million in full year of 2024.
- Currently, Fastenal has 2 buy ratings, 10 hold ratings, and 4 sell ratings from financial analysts.
A look at Fastenal Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.4 |
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, has been given Smart Karma scores indicating a positive long-term outlook. With a strong score of 4 for Growth and a perfect score of 5 for Momentum, the company shows potential for expansion and continuous improvement. Additionally, Fastenal Co scores a respectable 3 for both Dividend and Resilience, reflecting a stable financial health and ability to weather economic challenges. However, the Value score of 2 suggests that the stock may not be considered undervalued at the moment.
Fastenal Company, known for selling industrial and construction supplies across various countries like the United States, Canada, Mexico, and more, has been evaluated positively in terms of its future prospects. Its high scores in Growth and Momentum highlight the company’s potential for growth and strong market performance. Although the Value score is moderate, the overall outlook, with solid scores in Dividend and Resilience as well, indicates a company with promising long-term prospects in the industrial and construction supply sector.
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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