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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Fastenal
Fastenal (FAST) investor relations material
Fastenal Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary14 Oct, 2026
Executive summary
Q3 sales rose 15.5% to $2,463.3M; operating income grew 20.2%, net income 19.7% and diluted EPS 19.8% to $0.35.
Operating margin expanded 90 bps to 21.5%, as share gains and SG&A leverage outweighed gross-margin pressure.
Growth was supported by key-account share gains, contract wins, pricing and improved industrial demand.
Financial highlights
Net sales were $2,463.3M versus $2,133.3M a year earlier; operating income was $530.8M and net income was $401.6M.
Gross margin was 44.8%, down 40 bps YoY; SG&A fell 130 bps to 23.3% of sales.
Nine-month sales rose 14.2% to $7,051.9M; operating income increased 16.4% to $1,480.2M and net income rose 16.6% to $1,124.2M.
Outlook and guidance
FY 2026 net capital expenditures are expected at $310M-$330M; weighted FASTBin/FASTVend signing goal was revised to 27,000-29,000 MEUs from 28,000-30,000.
2026 Digital Footprint estimate is 62%-63% of sales, revised from 66%; Q3 penetration was 61.4%.
When sales grow double digits, management targets incremental operating margins in the mid-20s or higher; this is an internal objective, not guidance.
Ongoing tax rate is expected to be 24.6%, absent discrete items or broader tax-law changes.
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Latest events from Fastenal
- Record FY23 cash flow and expanding digital channels offset soft manufacturing demand.FAST
Q4 2023 - Q2 2026: Sales up 14.7%, net income up 15.9%, ROIC 31.4%, digital and contract growth strong.FASTQ2 2026
- Leadership transition, robust growth, and all management proposals approved; EEO-1 disclosure failed.FASTAGM 2026
- Sales and earnings surged, driven by manufacturing strength and digital expansion.FASTQ1 2026
- Board recommends all management proposals, highlights governance, pay-for-performance, and ESG.FASTProxy Filing
- Q2 2025 delivered 8.6% sales growth, margin gains, and double-digit net income increase.FASTQ2 2025
- Q3 2024 saw modest sales and profit growth, margin pressure, and strong digital expansion.FASTQ3 2024
- Net sales up 1.8%, net income down 1.8% as margins narrowed and digital sales expanded.FASTQ2 2024
- Q4 sales and EPS were flat, with margin pressure but digital and Onsite channels expanded.FASTQ4 2024
Next Fastenal earnings date
Q4 202619 Jan, 2027
Fastenal
Next Fastenal earnings date
Q4 202619 Jan, 2027
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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.