Fastenal Q2 net sales up 18% to $1.78B, EPS $0.50 (+19.7%), guides FMI signings lower

FASTENAL CO

2022-Q2 EPS reported $0.96 revenue$3,482,600,000

Q2 net sales $1,778.6M (+18.0% YoY); diluted EPS $0.50 vs $0.42; net earnings $287.1M (+19.8%).
Gross margin flat at 46.5%; operating margin improved to 21.6% from 21.1% on expense leverage.
Reduced 2022 FMI signings goal to 21,000-23,000 weighted MEUs from prior 23,000-25,000.
Operating cash flow $151.2M (-11.8%); working capital up due to inflation and customer growth.
Returned $227.8M to shareholders in Q2 ($178.5M dividends, $49.3M buybacks).

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