# Fastenal Company (NASDAQ: FAST) Reports Q2 2025 Earnings
**Release Date: July 14, 2025**
Fastenal Company has reported its financial results for the second quarter ended June 30, 2025, showing significant year-over-year growth in several key metrics. Below is a summary of the company’s financial performance and operations for the period.
### Performance Summary
– **Net Sales:**
– Q2 2025: $2,080.3 million
– Q2 2024: $1,916.2 million
– Change: **+8.6%**
– **Daily Sales Rate (DSR):**
– Q2 2025: $32.5 million
– Q2 2024: $29.9 million
– Change: **+8.6%**
– **Gross Profit:**
– Q2 2025: $942.8 million
– Q2 2024: $863.5 million
– Change: **+9.2%**
– % of Net Sales:
– Q2 2025: 45.3%
– Q2 2024: 45.1%
– **Selling, General, and Administrative (SG&A) Expenses:**
– Q2 2025: $506.7 million
– Q2 2024: $476.6 million
– Change: **+6.3%**
– % of Net Sales:
– Q2 2025: 24.4%
– Q2 2024: 24.9%
– **Operating Income:**
– Q2 2025: $436.1 million
– Q2 2024: $386.9 million
– Change: **+12.7%**
– % of Net Sales:
– Q2 2025: 21.0%
– Q2 2024: 20.2%
– **Net Income:**
– Q2 2025: $330.3 million
– Q2 2024: $292.7 million
– Change: **+12.8%**
– Diluted EPS:
– Q2 2025: $0.29
– Q2 2024: $0.25
– Change: **+12.7%**
### Sales Overview
– **Factors Influencing Sales:**
– Increased customer contract signings over the past six quarters.
– Market conditions remained sluggish with minimal contributions.
– Currency exchange rate fluctuations had a minor impact on sales.
– **Unit Sales Growth:**
– Growth driven largely by the increase in customer sites spending $10K or more per month.
– **Product Line Growth:**
– OEM fastener DSR: **+8.4%** (2025) vs **-2.3%** (2024).
– Safety Supplies growth: **+10.7%** (2025) vs **+7.1%** (2024).
– Non-Fasteners saw total DSR growth of **+9.5%** vs **+4.2%** last year.
### Market Segment Performance
– **Manufacturing Market:**
– Heavy Manufacturing: DSR **+7.5%** in Q2 2025, DSR **+1.8%** in Q2 2024.
– Other Manufacturing: DSR **+11.5%** (2025) vs **+4.0%** (2024).
– **Non-Residential Construction:**
– Growth experienced for the first time in ten consecutive quarters.
### SG&A and Operating Income
– **SG&A Expenses:**
– Growth of **6.3%** in SG&A against **8.6%** growth in net sales reflects operational efficiency.
– **Operating Income:**
– Increase attributed to disciplined cost management and strategic pricing.
### Cash Flow and Dividends
– **Operating Activities:**
– Q2 2025: $278.6 million cash provided (8.1% increase) compared to Q2 2024.
– **Shareholder Returns:**
– Total dividends paid in Q2 2025: **$252.5 million**, up from **$223.3 million** in Q2 2024.
– Repurchases of common stock: **None in either period**.
### Balance Sheet Highlights
– **Total Debt:**
– Q2 2025: **$230.0 million** (5.7% of total capital), a decrease from **$235.0 million** (6.3% of
Here are the extracted tables from the provided press release:
### FASTENAL COMPANY Condensed Consolidated Statements of Income
(Amounts in millions)
| Category | Six Months Ended | Three Months Ended | ||
|---|---|---|---|---|
| June 30, 2025 | 2024 | June 30, 2025 | 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)
| Assets | June 30, 2025 | December 31, 2024 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $237.8 | $255.8 |
| Trade accounts receivable, net of | ||
| allowance for credit losses | 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 | 186.0 |
