earnings
confidence high
sentiment positive
materiality 0.80
Fastenal Q1 net sales up 20.3% to $1.70B, EPS $0.47 (+27.8% YoY)
FASTENAL CO
2022-Q1 EPS reported
$0.47
revenue$1,704,100,000
- Net sales $1,704.1M (+20.3% YoY); organic daily sales +18.4% with 100 bps boost from easier weather comp.
- Diluted EPS $0.47 vs $0.37 last year (+27.8%); operating income margin expanded to 21.0% from 19.8%.
- Gross margin improved 120 bps to 46.6% due to absence of mask write-down and better safety product margins.
- Record 106 new Onsite signings in Q1, active sites up 12.1% to 1,440; FMI sales grew 48.4% to 35.4% of total sales.
- Operating cash flow down 16.3% to $230.0M (conversion 85.3% vs 130.5% prior year) on working capital build for growth.