Fastenal Company
0IKW.L
$48.09 0.25%
Exchange: LSE | Sector: Industrials | Industry: Industrial Distribution
Q2 2024
Published: Jul 17, 2024

Earnings Highlights

  • Revenue of $1.92B up 1.8% year-over-year
  • EPS of $0.25 increased by 0% from previous year
  • Gross margin of 45.1%
  • Net income of 292.70M
  • ""We are focused on leveraging our supply chain efficiencies to manage costs better in a tightening economic environment."" - CEO

Fastenal Company (0IKW.L) Q2 2024 Results: Solid Performance Amid Market Challenges

Executive Summary

In Q2 2024, Fastenal Company reported a revenue increase of $1.916 billion, marking a year-over-year growth of 1.76% and a quarter-over-quarter growth of 1.11%. Although the gross profit also reflected a modest increase, the operating income and net income saw declines compared to both the previous quarter and the same period last year. The challenges facing the company, particularly in maintaining profitability amid rising costs, were duly noted by management during the earnings call, as indicated by their focused commentary on cost management and strategic pricing initiatives. Despite these hurdles, Fastenal remains well-positioned within the industrial distribution sector, supported by a robust balance sheet and significant cash flow generation capabilities.

Key Performance Indicators

Revenue

1.92B
QoQ: 1.11% | YoY:1.76%

Gross Profit

863.50M
45.06% margin
QoQ: 0.22% | YoY:0.70%

Operating Income

386.90M
QoQ: -0.85% | YoY:-2.03%

Net Income

292.70M
QoQ: -1.68% | YoY:-1.78%

EPS

0.26
QoQ: 0.00% | YoY:0.00%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue**: $1.916 billion (YoY Growth: 1.76%, QoQ Growth: 1.11%)
  • **Gross Profit**: $863.5 million (YoY Growth: 0.70%, QoQ Growth: 0.22%)
  • **Operating Income**: $386.9 million (YoY Decline: -2.03%, QoQ Decline: -0.85%)
  • **Net Income**: $292.7 million (YoY Decline: -1.78%, QoQ Decline: -1.68%)
  • **EPS**: $0.260 (Flat YoY and QoQ)

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 2,080.30 0.29 +8.6% View
Q1 2025 1,959.40 0.26 +3.4% View
Q4 2024 1,824.50 0.23 +3.8% View
Q3 2024 1,910.20 0.26 +3.5% View
Q2 2024 1,916.20 0.25 +1.8% View