Fastenal Company Reports 2022 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, 2022. 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\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nNet sales\n\n\n\n$\n\n\n\n1,704.1\n\n\n\n \n\n\n\n \n\n\n\n1,417.0\n\n\n\n \n\n\n\n \n\n\n\n20.3\n\n\n\n%\n\n\n\n\n\nBusiness days\n\n\n\n \n\n\n\n64\n\n\n\n \n\n\n\n \n\n\n\n63\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nDaily sales\n\n\n\n$\n\n\n\n26.6\n\n\n\n \n\n\n\n \n\n\n\n22.5\n\n\n\n \n\n\n\n \n\n\n\n18.4\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n793.3\n\n\n\n \n\n\n\n \n\n\n\n643.4\n\n\n\n \n\n\n\n \n\n\n\n23.3\n\n\n\n%\n\n\n\n\n\n% of net sales\n\n\n\n \n\n\n\n46.6\n\n\n\n%\n\n\n\n \n\n\n\n45.4\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nOperating and administrative expenses\n\n\n\n$\n\n\n\n435.3\n\n\n\n \n\n\n\n \n\n\n\n363.1\n\n\n\n \n\n\n\n \n\n\n\n19.9\n\n\n\n%\n\n\n\n\n\n% of net sales\n\n\n\n \n\n\n\n25.5\n\n\n\n%\n\n\n\n \n\n\n\n25.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n358.0\n\n\n\n \n\n\n\n \n\n\n\n280.3\n\n\n\n \n\n\n\n \n\n\n\n27.7\n\n\n\n%\n\n\n\n\n\n% of net sales\n\n\n\n \n\n\n\n21.0\n\n\n\n%\n\n\n\n \n\n\n\n19.8\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nEarnings before income taxes\n\n\n\n$\n\n\n\n355.7\n\n\n\n \n\n\n\n \n\n\n\n277.9\n\n\n\n \n\n\n\n \n\n\n\n28.0\n\n\n\n%\n\n\n\n\n\n% of net sales\n\n\n\n \n\n\n\n20.9\n\n\n\n%\n\n\n\n \n\n\n\n19.6\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n\n\nNet earnings\n\n\n\n$\n\n\n\n269.6\n\n\n\n \n\n\n\n \n\n\n\n210.6\n\n\n\n \n\n\n\n \n\n\n\n28.0\n\n\n\n%\n\n\n\n\n\nDiluted net earnings per share\n\n\n\n$\n\n\n\n0.47\n\n\n\n \n\n\n\n \n\n\n\n0.37\n\n\n\n \n\n\n\n \n\n\n\n27.8\n\n\n\n%\n\n\n\n\nYear-Over-Year Quarterly Results of Operations\n\nNet sales increased $287.0, or 20.3%, in the first quarter of 2022 when compared to the first quarter of 2021....

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