Fastenal Company (FAST) Q2 2025 Financial Results Summary
Fastenal Company (Nasdaq:FAST) released its financial results for the second quarter of 2025 on July 14, 2025.
Performance Summary
Key Financial Metrics
- Net Sales:
- Q2 2025: $2,080.3 million
- Q2 2024: $1,916.2 million
- Change: +8.6%
- Gross Profit:
- Q2 2025: $942.8 million
- Q2 2024: $863.5 million
- Change: +9.2%
- Operating Income:
- Q2 2025: $436.1 million
- Q2 2024: $386.9 million
- Change: +12.7%
- Net Income:
- Q2 2025: $330.3 million
- Q2 2024: $292.7 million
- Change: +12.8%
- Diluted Net Income Per Share:
- Q2 2025: $0.29
- Q2 2024: $0.25
- Change: +12.7%
Sales Performance
- Daily Sales Rate (DSR):
- Q2 2025: $32.5
- Q2 2024: $29.9
- Change: +8.6%
Product Categories
- OEM Fasteners:
- Q2 2025 DSR Change: +8.4%
- Q2 2024: -2.3%
- Safety Supplies:
- Q2 2025 DSR Change: +10.7%
- Q2 2024: +7.1%
- Non-Fasteners:
- Q2 2025 DSR Change: +9.5%
- Q2 2024: +4.2%
Market and Customer Insights
- Contract Sales:
- Q2 2025 DSR Change: +11.0%
- Q2 2024: +6.9%
- Non-Contract Sales:
- Q2 2025 DSR Change: +2.6%
- Q2 2024: -9.0%
Operational Efficiency
- Gross Margin:
- Q2 2025: 45.3%
- Q2 2024: 45.1%
- SG&A as a % of Net Sales:
- Q2 2025: 24.4%
- Q2 2024: 24.9%
Cash Flow and Shareholder Returns
- Net Cash Provided by Operating Activities:
- Q2 2025: $278.6 million
- Q2 2024: $258.0 million
- Change: +8.1%
- Dividends:
- Q2 2025: $252.5 million returned to shareholders
- Q2 2024: $223.3 million returned
- Change: +13.1%
- Dividend Payout for First Six Months:
- 2025: $499.1 million
- 2024: $446.5 million
Balance Sheet Highlights
- Total Debt:
- Q2 2025: $230.0 million (5.7% of total capital)
- Q2 2024: $235.0 million (6.3% of total capital)
In summary, Fastenal’s Q2 2025 results exhibit strong growth in both sales and profitability metrics compared to Q2 2024. The company reported notable improvements in operating income and net income, amidst a backdrop of positive contributions from contract sales and product categories. Fastenal also continued to return value to its shareholders through increased dividends without engaging in share repurchases during this period.
Here are the extracted tables from the press release:
FASTENAL COMPANY Condensed Consolidated Statements of Income
(Amounts in millions except income per share)
| Six Months Ended | Three Months Ended | |||
|---|---|---|---|---|
| June 30 | 2024 | June 30 | 2024 | |
| Net sales | 4,039.7 | 3,811.3 | 2,080.3 | 1,916.2 |
| Cost of sales | 2,213.0 | 2,086.2 | 1,137.5 | 1,052.7 |
| Gross profit | 1,826.7 | 1,725.1 | 942.8 | 863.5 |
| Selling, general, and administrative expenses | 996.7 | 948.0 | 506.7 | 476.6 |
| Operating income | 830.0 | 777.1 | 436.1 | 386.9 |
| Interest income | 3.6 | 2.9 | 2.7 | 1.3 |
| Interest expense | -3.8 | -3.8 | -2.2 | -1.8 |
| Income before income taxes | 829.8 | 776.2 | 436.6 | 386.4 |
| Income tax expense | 200.9 | 185.8 | 106.3 | 93.7 |
| Net income | 628.9 | 590.4 | 330.3 | 292.7 |
| Basic net income per share | 0.55 | 0.52 | 0.29 | 0.26 |
| Diluted net income per share | 0.55 | 0.51 | 0.29 | 0.25 |
| Basic weighted average shares outstanding | 1,147.2 | 1,144.9 | 1,147.5 | 1,145.2 |
| Diluted weighted average shares outstanding | 1,149.8 | 1,148.2 | 1,150.1 | 1,148.2 |
FASTENAL COMPANY Condensed Consolidated Balance Sheets
(Amounts in millions except share and per share information)
| Assets | June 30 | December 31 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | 237.8 | 255.8 |
| Trade accounts receivable, net of allowance for credit losses of $4.7 and $5.2, respectively | 1,324.2 | 1,108.6 |
| Inventories | 1,726.3 | 1,645.0 |
| Prepaid income taxes | 14.5 | 18.8 |
| Other current assets | 158.9 | 183.7 |
| Total current assets | 3,461.7 | 3,211.9 |
| Property and equipment, net | 1,101.0 | 1,056.6 |
| Operating lease right-of-use assets | 308.3 | 279.2 |
| Other assets | 145.2 | 150.3 |
| Total assets | 5,016.2 | 4,698.0 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Current portion of debt | 130.0 | 75.0 |
| Accounts payable | 319.3 | 287.7 |
| Accrued expenses | 257.1 | 225.6 |
| Current portion of operating lease liabilities | 106.1 | 98.8 |
| Income taxes payable | 7.8 | — |
| Total current liabilities | 820.3 | 687.1 |
| Long-term debt | 100.0 | 125.0 |
| Operating lease liabilities | 209.1 | 186.6 |
| Deferred income taxes | 70.3 | 68.9 |
| Other long-term liabilities | 9.1 | 14.1 |
| Stockholders’ equity: | ||
| Preferred stock: $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding | — | — |
| Common stock: $0.01 par value, 1,600,000,000 shares authorized, 1,147,617,563 and 1,146,640,904 shares issued and outstanding, respectively | 11.5 | 11.5 |
| Additional paid-in capital | 104.2 | 82.8 |
| Retained earnings | 3,743.3 | 3,613.5 |
| Accumulated other comprehensive loss | -51.6 | -91.5 |
| Total stockholders’ equity | 3,807.4 | 3,616.3 |
| Total liabilities and stockholders’ equity | 5,016.2 | 4,698.0 |
