Fastenal Company · NASDAQ:FAST
Fastenal — Q3 2025 Earnings Presentation
16 slides from Fastenal's earnings presentation, Oct 13, 2025
Slide 1: Third Quarter Investor Teleconference
2025 THIRD QUARTER INVESTOR TELECONFERENCE OCTOBER 13, 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 3Q25
CSO AND PRESIDENT MESSAGES ON 3Q25 • 3Q25 net sales were +11.7%, largely reflecting market Daily Sales Rate (DSR) Growth share gains supported by our key account strategy and 11.7% 12% new contract signings. Market conditions remained sluggish providing minimal contribution. Price contributed 10% 9.
Slide 4: Customer Site Performance
CUSTOMER SITE PERFORMANCE 3Q25 3Q24 Customer Sites Mo. Sales per Customer Sites Mo. Sales per (#) (1) (2) Sales ($MM) Customer Site (3) (#) (1) (2) Sales ($MM) Customer Site (3) Manufacturing $50k+/Mo. (4) 2,304 $971.8 $140,596 2,025 $827.9 $136,280 $10k+/Mo. 8,913 1,411.5 52,788 8,318 1,240.2 49,69
Slide 5: CSO and President Messages on 3Q25
CSO AND PRESIDENT MESSAGES ON 3Q25 • EPS of $0.29 in 3Q25 improved 12.3% from $0.26 in Daily Sales Rate (DSR) Growth 3Q24. 12% 11.7% • During 3Q25, we continued to smartly expand the 10% 9.1% 8.6% stocking of fasteners in our distribution centers. Increased fastener product availability has resulted
Slide 6: 3Q25 Supplemental Data Update
3Q25 SUPPLEMENTAL DATA UPDATE Weighted FMI Device Signings • FMI Technology: We signed 7,050 weighted devices and Installations (MEUs) (1) (110/day) in 3Q25, versus 7,281 (114/day) in 3Q24. Our 12K 160K 133,910 installed base was 133,910 weighted devices, +8.7% 123,193 140K 10K 110,191 from 3Q24. Ac
Slide 7: 3Q25 Business Cadence
3Q25 BUSINESS CADENCE • U.S. PMI averaged 48.6 in 3Q25. U.S. Industrial End Market Daily Sales Rate (DSR) Growth Production was +1.1% in Jul./Aug. 2025 over 3Q24. 20% 12.9% Heavier production series, like Fabricated Metal (+0.5%) and Electrical Equipment (-3.7%), were relatively 12.4% 10% weaker. 8.
Slide 8: 3Q25 Margin Summary
3Q25 MARGIN SUMMARY Gross Profit Margin • 3Q25 gross margin increased to 45.3% from 44.9% in 50% 3Q24. This increase was primarily driven by our fastener expansion project, other supplier-focused initiatives, and 45.9% improvements in customer and supplier incentives. These 44.9% 45.3% benefits were
Slide 9: 3Q25 Cash Flow Profile
3Q25 CASH FLOW PROFILE Operating Cash Flow (OCF) • 3Q25 OCF was $386.9, or 115.3% of net income (99.6% (in millions) in 3Q24). Despite the investment in inventory, cash 131.3% 115.3% 400 generation was above traditional third quarter levels (five- 350 year average of 104.2%). 99.6% 300 • Accounts re
Slide 10: CEO Message on 3Q25
CEO MESSAGE ON 3Q25 Migrating to Direct vs. Indirect Materials Product Sales Categorization • Why? ◦ Better analytics and better visibility with customer data ◦ Great insights for direct vs. indirect materials ◦ Direction for field to identify opportunities for wallet share • Historical Original Equ
Slide 11: Appendix
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 ('TTM'). We believe
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) 3Q25 3Q24 (Amounts in millions) 3Q25 3Q24 Operating Income $ 1,616.3 1,519.1 Net Income $ 1,226.6 1,154.9 Income Tax Expense (388.0) (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 3Q25 2Q25 2Q25 4Q24 (2) 4Q24 3Q24 (2) 3Q24 3Q25 2Q25 2Q25 4Q24 (2) 4Q24 3Q24 (2) 3Q24 Selling personnel (3) 17,196 17,192 0.0% 16,669 3.2% 16,620 3.5% 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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