Fastenal Company Reports 2021 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, 2021. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. 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\nPERFORMANCE SUMMARY\n\n\n\n \n\n\n\nThree-month Period\n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nNet sales\n\n\n\n$\n\n\n\n1,417.0\n\n\n\n \n\n\n\n \n\n\n\n1,367.0\n\n\n\n \n\n\n\n \n\n\n\n3.7\n\n\n\n%\n\n\n\n\n\nBusiness days\n\n\n\n63\n\n\n\n \n\n\n\n \n\n\n\n64\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDaily sales\n\n\n\n$\n\n\n\n22.5\n\n\n\n \n\n\n\n \n\n\n\n21.4\n\n\n\n \n\n\n\n \n\n\n\n5.3\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n643.4\n\n\n\n \n\n\n\n \n\n\n\n636.8\n\n\n\n \n\n\n\n \n\n\n\n1.0\n\n\n\n%\n\n\n\n\n\n% of sales\n\n\n\n45.4 \n\n\n\n%\n\n\n\n \n\n\n\n46.6 \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n280.3\n\n\n\n \n\n\n\n \n\n\n\n271.3\n\n\n\n \n\n\n\n \n\n\n\n3.3\n\n\n\n%\n\n\n\n\n\n% of sales\n\n\n\n19.8 \n\n\n\n%\n\n\n\n \n\n\n\n19.9 \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$\n\n\n\n277.9\n\n\n\n \n\n\n\n \n\n\n\n269.2\n\n\n\n \n\n\n\n \n\n\n\n3.2\n\n\n\n%\n\n\n\n\n\n% of sales\n\n\n\n19.6 \n\n\n\n%\n\n\n\n \n\n\n\n19.7 \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet earnings\n\n\n\n$\n\n\n\n210.6\n\n\n\n \n\n\n\n \n\n\n\n202.6\n\n\n\n \n\n\n\n \n\n\n\n3.9\n\n\n\n%\n\n\n\n\n\nDiluted net earnings per share\n\n\n\n$\n\n\n\n0.37\n\n\n\n \n\n\n\n \n\n\n\n0.35\n\n\n\n \n\n\n\n \n\n\n\n3.7\n\n\n\n%\n\n\n\n\nQuarterly Results of Operations\n\nNet sales increased $50.0, or 3.7%, in the first quarter of 2021 when compared to the first quarter of 2020. There was one fewer selling day in the current period relative to the year earlier period, and taking this into consideration our net daily sales growth increased 5.3% in the first quarter of 2021 when compared to the first quarter of 2020. This growth was largely due to higher unit sales, most notably of fas...

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