Fastenal Q2 2024: Net Sales Rise 1.8%, Net Income Falls 1.8% to $292.7M

FASTENAL CO

2024-Q2 EPS reported $1.03 revenue$3,811,300,000

Diluted EPS was $0.51 in Q2 2024, down 2.0% from $0.52 in Q2 2023.
Gross profit margin fell to 45.1% from 45.5% due to unfavorable mix and supply chain inefficiencies.
Signed 107 new Onsite locations in Q2, bringing active sites to 1,934 (up 11.9% YoY).
FMI technology sales grew 7.0% to $811.4M, representing 41.8% of total sales.
Operating income margin decreased to 20.2% from 21.0% as SG&A expenses grew faster than sales.

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