Fastenal Company Reports 2020 First Quarter Earnings

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[{"type":"text","content":" WINONA, Minn.--(BUSINESS WIRE)--\nFastenal Company (Nasdaq:FAST), a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter ended March 31, 2020. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. Share and per share information in this release, and in the financial statements attached to this release, has been adjusted to reflect the two-for-one stock split effective at the close of business on May 22, 2019. Throughout this document, percentage and dollar calculations, which are based on non-rounded dollar values, may not be able to be recalculated using the dollar values included in this document due to the rounding of those dollar values.\n\n\nPERFORMANCE SUMMARY\n\n\n\n\n \n\n\n\n\nThree-month Period\n\n\n\n\n\n \n\n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nNet sales\n\n\n\n\n$\n\n\n\n1,367.0\n\n\n\n \n\n\n\n \n\n\n\n1,309.3\n\n\n\n \n\n\n\n \n\n\n\n4.4\n\n\n\n%\n\n\n\n\n\nBusiness days\n\n\n\n\n64\n\n\n\n \n\n\n\n \n\n\n\n63\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDaily sales\n\n\n\n\n$\n\n\n\n21.4\n\n\n\n \n\n\n\n \n\n\n\n20.8\n\n\n\n \n\n\n\n \n\n\n\n2.8\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n\n$\n\n\n\n636.8\n\n\n\n \n\n\n\n \n\n\n\n624.7\n\n\n\n \n\n\n\n \n\n\n\n1.9\n\n\n\n%\n\n\n\n\n\n% of sales\n\n\n\n\n46.6\n\n\n\n%\n\n\n\n \n\n\n\n47.7\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nOperating income\n\n\n\n\n$\n\n\n\n271.3\n\n\n\n \n\n\n\n \n\n\n\n261.4\n\n\n\n \n\n\n\n \n\n\n\n3.8\n\n\n\n%\n\n\n\n\n\n% of sales\n\n\n\n\n19.9\n\n\n\n%\n\n\n\n \n\n\n\n20.0\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nEarnings before income taxes\n\n\n\n\n$\n\n\n\n269.2\n\n\n\n \n\n\n\n \n\n\n\n257.5\n\n\n\n \n\n\n\n \n\n\n\n4.6\n\n\n\n%\n\n\n\n\n\n% of sales\n\n\n\n\n19.7\n\n\n\n%\n\n\n\n \n\n\n\n19.7\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet earnings\n\n\n\n\n$\n\n\n\n202.6\n\n\n\n \n\n\n\n \n\n\n\n194.1\n\n\n\n \n\n\n\n \n\n\n\n4.4\n\n\n\n%\n\n\n\n\n\nDiluted net earnings per share\n\n\n\n\n$\n\n\n\n0.35\n\n\n\n \n\n\n\n \n\n\n\n0.34\n\n\n\n \n\n\n\n \n\n\n\n4.0\n\n\n\n%\n\n\n\n\n\nQuarterly Results of Operations\n\n\nNet sales increased $57.7, or 4.4%, in the first quarter of 2020 when compared to the first quarter of 2019. Adjusting for the one additional selling day in the current period...

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