Fastenal Company · NASDAQ:FAST
Fastenal — Q2 2025 Earnings Presentation
16 slides from Fastenal's earnings presentation, Jul 14, 2025
Slide 1: Second Quarter Investor Teleconference
2025 SECOND QUARTER INVESTOR TELECONFERENCE JULY 14, 2025 1
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT All statements made herein that are not historical facts (e.g., future operating results, long-term share gains, and business activity, as well as expectations regarding operations, including gross and operating income margin, future inventory levels, pricing, weighted FMI devi
Slide 3: CSO and President Messages on 2Q25
CSO AND PRESIDENT MESSAGES ON 2Q25 • 2Q25 net sales were +8.6% largely reflecting Daily Sales Rate (DSR) Growth 12% contribution from improved customer contract signings over the last six quarters. Market conditions remained 10% 9.1% sluggish providing minimal contribution. Price 8.6% contributed 14
Slide 4: Customer Site Performance
CUSTOMER SITE PERFORMANCE 2Q25 2Q24 Customer Sites Mo. Sales per Customer Sites Mo. Sales per (#) (1) (2) Sales Customer Site (3) (#) (1) (2) Sales Customer Site (3) Manufacturing $50K+/Mo. (4) 2,250 $937.5 $138,889 2,021 $835.8 $137,853 $10K+/Mo. 8,827 1,373.6 51,871 8,369 1,250.3 49,799 $5K-$10K/M
Slide 5: CEO Messages on 2Q25
CEO MESSAGES ON 2Q25 • EPS of $0.29 in 2Q25 improved 12.7% from $0.25 in Daily Sales Rate (DSR) Growth 2Q24. 12% • In mid-2024, we began expanding the stocking of 10% 9.1% 8.6% fasteners in our distribution centers. During 2Q25, 8% increased fastener product availability resulted in increased sales
Slide 6: 2Q25 Supplemental Data Update
2Q25 SUPPLEMENTAL DATA UPDATE Weighted FMI Device Signings • FMI Technology: We signed 6,458 weighted devices and Installations (MEUs) (1) (101/day) in 2Q25, versus 7,188 (112/day) in 2Q24. Our 12K 160K 132,174 installed base was 132,174 weighted devices, +10.8% 140K 10K 119,306 from 2Q24. Activity
Slide 7: U.S. Tariff Timeline
U.S. TARIFF TIMELINE Steel and Aluminum Products and Derivatives Eligibility for All Other Eligible for China Canada/Mexico Year Month Tariff Description Duty Countries USMCA**** Steel/Alum Steel/Alum Drawback*** Steel/Alum 2018 August Section 301 Y N 25% 0% 0% February IEEPA* Y Y 10% 25% 0% March I
Slide 8: 2Q25 Business Cadence
2Q25 BUSINESS CADENCE • U.S. PMI averaged 48.7 in 2Q25. U.S. Industrial End Market Daily Sales Rate (DSR) Growth Production was +0.8% in Apr./May 2025 over 2Q24. 20% Heavier production series, like Fabricated Metal (-1.0%), 11.5% and Primary Metal (+0.6%) were relatively weaker. 10% 7.5% • Our DSR i
Slide 9: 2Q25 Margin Summary
2Q25 MARGIN SUMMARY Gross Profit Margin • Gross margin increased to 45.3% from 45.1% in 2Q24 50% reflecting slightly favorable price/cost, improved margin on fastener sales relating to the fastener expansion project, and improvements relating to other supplier- 45.5% 45.3% 45% 45.1% focused initiati
Slide 10: 2Q25 Cash Flow Profile
2Q25 CASH FLOW PROFILE Operating Cash Flow (OCF) • 2Q25 OCF was $278.6, or 84.4% of net income (88.1% (in millions) in 2Q24). Despite the investment in inventory, cash 400 generation was above traditional second quarter levels 350 (five-year average of 83.7%). 101.4% 300 84.4% 88.1% • Accounts recei
Slide 11: Appendix: Non-GAAP Financial Measures
APPENDIX Non-GAAP Financial Measures The appendix includes information on our Return on Invested Capital ('ROIC'), which is a non-GAAP financial measure. We define ROIC as net operating profit less income tax expense divided by average invested capital over the trailing 12 months. We believe ROIC is
Slide 12: Return on Invested Capital
RETURN ON INVESTED CAPITAL* Calculation of Return on Invested Capital (ROIC) Reconciliation of ROIC to Return on Assets (ROA) TTM TTM TTM TTM (Amounts in millions) 2Q25 2Q24 (Amounts in millions) 2Q25 2Q24 Operating Income $ 1,562.9 1,517.7 Net Income $ 1,189.2 1,152.3 Income Tax Expense (372.4) (36
Slide 13: Sequential Trends
SEQUENTIAL TRENDS* Cum. Cum. Cum. Cum. Chg., Chg., Chg., Chg., Jan. Jan. Jan. Jan. Daily Sales Rate (DSR) to to to to BENCHMARKS Jan.* Feb. Mar. Mar. Apr. May Jun. Jun. Jul. Aug. Sep. Sep. Oct. Oct. Nov. Dec. BENCHMARK** 0.2% 1.3% 2.9% 4.2% (1.5%) 2.7% 0.9% 6.4% (3.5%) 2.5% 4.0% 9.5% (2.2%) 7.1% (2.
Slide 14: Employee Statistics
EMPLOYEE STATISTICS Absolute Count FTE Count (1) Change Change Change Change Change Change HEADCOUNT Since Since Since Since Since Since STATISTICS 2Q25 1Q25 1Q25 4Q24 (2) 4Q24 2Q24 (2) 2Q24 2Q25 1Q25 1Q25 4Q24 (2) 4Q24 2Q24 (2) 2Q24 Selling personnel (3) 17,192 16,995 1.2% 16,669 3.1% 16,727 2.8% 1
Slide 15: End Market Profile
END MARKET PROFILE End Market Mix - Full Year 2024 Transportation/ Other, 2.3% Warehousing, 5.2% Gov't/Education, 3.8% Heavy Manufacturing, 43.0% Reseller, 5.2% Non-Residential Construction, 8.5% All Other Manufacturing, 32.0% MAJOR SEGMENT GROWTH Year- Full to-date Year (Daily Sales Rates) Jan. Feb
Slide 16: Thank You
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