NASDAQ$FAST
Fastenal Company · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Fastenal's financial performance increased in the first quarter of 2023, with sales and earnings growth driven by strong demand in industrial markets, partially offset by a contraction in construction supplies.
Fastenal Company reported a 9.1% increase in net sales to $1,859.1 million and a 9.5% increase in net earnings to $295.1 million for the first quarter of 2023. Diluted net earnings per share increased to $0.52 from $0.47 in the same period last year. The growth was driven by higher unit sales due to strong demand in industrial capital goods and commodities, although foreign exchange and adverse weather had negative impacts.
- Net sales increased by 9.1% to $1,859.1 million, driven by higher unit sales in markets tied to industrial capital goods and commodities.
- Diluted net earnings per share rose to $0.52, a 10.4% increase compared to $0.47 in the first quarter of 2022.
- The company signed 89 new Onsite locations, bringing the total to 1,674 active sites, with daily sales through Onsite locations growing roughly 20%.
- Daily sales through eCommerce grew 48.7% and represented 21.9% of total sales, while the Digital Footprint reached 54.1% of sales, up from 47.0% in the prior year.
Headline financials
Revenue & EPS history
Fastenal · Revenue · Quarterly
$1.86B
Revenue by segment
Fastenal · $461M total across 1 segment · Q1 2021
- Fastener Products$461M+2.3%100.0%
Forward guidance
Fastenal expects to continue growing its business through Onsite locations and FMI technology. They anticipate capital expenditures to be between $210.0 to $230.0 million for 2023.
Tailwinds
- Goal for Onsite signings in 2023 remains between 375 to 400.
- Goal for weighted FASTBin and FASTVend device signings in 2023 remains between 23,000 to 25,000 MEUs.
- Expect investment in property and equipment to be within a range of $210.0 to $230.0 million in 2023.
- Ongoing tax rate, absent any discrete tax items or broader changes to tax law, will be approximately 24.5%.
- Continue to open or close locations as is deemed necessary to sustain and improve our network, support our growth drivers, and manage our operating expenses.
Headwinds
- No specific negative guidance was provided in the document.
- No specific negative guidance was provided in the document.
- No specific negative guidance was provided in the document.
- No specific negative guidance was provided in the document.
- No specific negative guidance was provided in the document.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+0.0%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+3.0%
Avg return
30 days after
46%
32 / 69 earnings
Positive
+14.2%
Q3 2019
Best reaction
-9.5%
Q1 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.5% | -6.9% | -12.2% | |
| Q4 2025 | -2.5% | +0.3% | +5.6% | |
| Q3 2025 | -7.6% | -7.3% | -10.5% | |
| Q2 2025 | -1.1% | +1.4% | -3.6% | |
| Q1 2025 | +6.4% | +6.1% | +3.7% | |
| Q4 2024 | +1.8% | +1.1% | +0.0% | |
| Q3 2024 | +9.6% | +11.1% | +19.1% | |
| Q2 2024 | +5.7% | +9.1% | +3.5% | |
| Q1 2024 | -5.7% | -8.0% | -9.2% | |
| Q4 2023 | +9.4% | +9.7% | +10.8% | |
| Q3 2023 | +7.3% | +7.2% | +7.1% | |
| Q2 2023 | -2.1% | -3.3% | -2.2% | |
| Q1 2023 | +1.4% | +2.5% | +4.2% | |
| Q4 2022 | +3.1% | +4.3% | +12.4% | |
| Q3 2022 | -3.9% | +4.0% | +13.4% | |
| Q2 2022 | -5.3% | -4.2% | +11.6% | |
| Q1 2022 | -2.9% | -4.7% | -8.7% | |
| Q4 2021 | -3.8% | -1.6% | -12.3% | |
| Q3 2021 | +2.7% | +6.7% | +13.5% | |
| Q2 2021 | -1.5% | -0.8% | +2.4% | |
| Q1 2021 | -1.3% | -0.3% | +5.0% | |
| Q4 2020 | -4.5% | -4.5% | -6.3% | |
| Q3 2020 | -5.6% | -5.0% | -2.7% | |
| Q2 2020 | +1.5% | +1.9% | +10.7% | |
| Q1 2020 | +7.1% | +11.3% | +19.9% | |
| Q4 2019 | -4.0% | -3.7% | +2.7% | |
| Q3 2019 | +14.2% | +14.8% | +19.5% | |
| Q2 2019 | -1.0% | +0.1% | -4.8% | |
| Q1 2019 | +6.9% | +6.6% | +0.7% | |
| Q4 2018 | +9.7% | +9.2% | +16.4% | |
| Q3 2018 | -7.9% | -5.3% | -1.6% | |
| Q2 2018 | +11.7% | +11.9% | +16.5% | |
| Q1 2018 | -6.8% | -6.9% | -4.9% | |
| Q4 2017 | -3.9% | -2.0% | -1.2% | |
| Q3 2017 | +2.4% | +5.3% | +6.1% | |
| Q2 2017 | -1.0% | -2.5% | -2.2% | |
| Q1 2017 | -9.5% | -9.0% | -11.1% | |
| Q4 2016 | +4.8% | +5.6% | +5.1% | |
| Q3 2016 | -7.3% | -9.0% | +6.6% | |
| Q2 2016 | -4.5% | -4.2% | -4.2% | |
| Q1 2016 | -2.4% | — | — | |
| Q4 2015 | -6.3% | — | — | |
| Q3 2015 | -2.5% | — | — | |
| Q2 2015 | -3.1% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q4 2014 | +0.7% | — | — | |
| Q3 2014 | -7.7% | — | — | |
| Q2 2014 | -5.5% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | -3.2% | — | — | |
| Q3 2013 | -4.1% | — | — | |
| Q2 2013 | -1.1% | — | — | |
| Q1 2013 | -4.1% | — | — | |
| Q4 2012 | +3.4% | — | — | |
| Q3 2012 | +7.1% | — | — | |
| Q2 2012 | +8.6% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q4 2011 | -0.9% | — | — | |
| Q3 2011 | +6.9% | — | — | |
| Q2 2011 | +0.2% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2010 | +1.4% | — | — | |
| Q3 2010 | +0.9% | — | — | |
| Q2 2010 | +2.2% | — | — | |
| Q1 2009 | -2.8% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q4 2009 | +0.8% | — | — | |
| Q3 2009 | -2.6% | — | — | |
| Q2 2009 | +0.7% | — | — |
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