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Fastenal’s Revenue Beat a Positive Read Through to the Broader Economy

publication date: Jul 12, 2024
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Image: Fastenal’s second quarter results were a positive read through to the broader economy. 

On July 12, Fastenal Company reported mixed second quarter results where revenue modestly exceeded the consensus forecast, while the company’s GAAP earnings per share was in-line. For the first six months of 2024, net sales advanced 1.8%, while operating income fell 1.4% and net income dropped 0.5%. Diluted earnings per share of $1.03 for the first six months of the year was 0.7% lower than the mark achieved over the same period a year ago. Fastenal’s better-than-expected revenue performance is a positive read through to the broader economy.


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