From Financial Modeling Prep: 2025-01-17 12:13:00

Fastenal Company (NASDAQ:FAST) reported fourth-quarter results below market expectations due to weaker growth in industrial and construction supplies amid a challenging manufacturing landscape. Earnings per share were $0.46, missing the consensus estimate of $0.48, with revenue at $1.82 billion compared to the expected $1.84 billion.

Net sales grew by 3.7% year-over-year, but daily sales growth slowed to 2.1% in Q4 from 2.3% in the prior quarter, reflecting ongoing softness in the manufacturing sector. Sharp production cuts by major customers in December worsened the demand environment for Fastenal.

Gross profit margin declined to 44.8% from 45.5% due to factors like an unfavorable customer and product mix, as well as higher freight and import duty costs. Fastenal added 56 new Onsite locations in Q4, totaling 358 for the year, falling short of the target range of 375 to 400 new locations.



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