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Fastenal Company (FAST) investor relations material
Fastenal Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Oct, 2025
Executive summary
Net sales for Q3 2025 rose 11.7% year-over-year to $2,133.3 million, marking the second consecutive quarter above $2 billion, driven by market share gains, contract signings, and strong fastener and safety supply sales despite a flat industrial economy.
EPS increased 12.3% to $0.29, with net income up 12.6% to $335.5 million, reflecting improved financial performance and bonus program resets.
Growth was supported by digital initiatives, with FMI and e-business accounting for over 61% of sales and FMI daily sales up nearly 18% year-over-year.
Fastener sales outpaced overall growth, with OEM fasteners up 15.9% and MRO fasteners up 12.0%, and fastener expansion initiatives boosting gross margin.
Strategic focus on sales effectiveness, service enhancement, and expansion into non-traditional markets like healthcare and education contributed to higher contract counts and deeper customer penetration.
Financial highlights
Gross margin improved to 45.3% from 44.9% year-over-year, supported by fastener expansion and supplier initiatives.
Operating margin reached 20.7%, up from 20.3% a year ago; SG&A expenses remained stable at 24.6% of sales.
Operating cash flow was $386.9 million, or 115.3% of net income, exceeding the five-year average.
Accounts receivable and inventories rose 12.2% and 10.5% respectively, reflecting sales growth and inventory investments.
Dividends paid in Q3 2025 totaled $252.5 million, with a $0.22 per share dividend declared for Q4 2025.
Outlook and guidance
Net capital expenditures for 2025 are expected to be $235–$255 million, up from $214 million in 2024, focused on distribution centers, FMI hardware, and IT investments.
Weighted FASTBin/FASTVend device signings target for 2025 remains 25,000–26,000 MEUs.
Gross profit percentage for 2025 anticipated to be flat with 2024, with typical Q4 margin seasonality expected.
Additional pricing actions are planned for Q4, with like-for-like price impact revised to 3.5%-5.5%, down from the previous 5%-8% target.
Limited visibility on demand due to trade policy uncertainty and macroeconomic volatility; most customers expect no significant improvement until 2026.
What is the 2025 FMI device signings target?
Explain Q3 2025 gross profit percentage drivers.
How did $10k+ customer sites grow in Q3 2025?
Impact of pricing strategy on Q4 margins?
How will new OEM/MRO data inform strategy?
Rationale for inventory investment and ROIC?
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Next Fastenal Company earnings date
Q4 202519 Jan, 2026
Next Fastenal Company earnings date
Q4 202519 Jan, 2026
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Frequently asked questions
Industrial and Construction Supplies
Fastenal is an American company and a global distributor of industrial and construction supplies. Well known for its vast inventory, the company specializes in providing an extensive range of fasteners, such as nuts, bolts, and screws, catering to various industries including manufacturing, construction, and engineering. Besides this, the company also offers a variety of services for customers. Fastenal is active all across the Americas, as well as in Europe and Asia. Fastenal is headquartered in Winona, Minnesota, and its shares are listed on the Nasdaq.
Vending Machines for Nuts and Bolts
Fastenal was founded in 1967 by Bob Kierlin and four friends in Winona, Minnesota, with an initial investment of just $30,000. The company's business idea was to provide a diverse array of fasteners, such as nuts, bolts, and screws, via a vending machine model. This unique approach simplified the procurement process for businesses. Fastenal's first storefront opened in 1967, marking the beginning of its transition from a vending machine model to a retail approach. Since then, Fastenal has experienced significant growth, expanding its product range beyond fasteners to include various industrial and construction supplies. Today, the company is one of the largest of its kind and competes against other companies in the sector such as WESCO, W.W. Grainger, and MSC Industrial.
Products and Services
Their extensive product lineup includes fasteners like bolts, nuts, and screws, which are foundational to their inventory. However, their offerings extend far beyond fastening solutions. Fastenal also supplies a variety of tools, safety equipment, cutting tools, abrasives, and material handling products, among others, to address the broad needs of its clients. In terms of services, Fastenal is well known for its tailored supply chain and inventory management solutions. One of their notable innovations is the industrial vending machine program, which simplifies tool and supply distribution. Additionally, they offer services like tool repair, manufacturing, and custom product development.
The Retail Locations
Fastenal adopts a localized approach to its store network, emphasizing proximity and responsiveness to its customers. Each store functions not just as a retail outlet, but as a service hub, tailored to the specific requirements of the local community and businesses. This strategy enables Fastenal to offer personalized service and rapid delivery, ensuring that customers have quick and easy access to a wide range of industrial and construction supplies.
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