Fastenal Q2 Earnings Report Shows Decrease in Profit Amid Sales Rise

Friday, 12 July 2024, 14:17

Fastenal Company (NASDAQ: FAST) released its second-quarter 2024 financial results, revealing a drop in net income despite a sales uptick. The company reported a net income of $292.7 million or $0.51 per share for Q2 2024, down from $298.0 million, or $0.52 per share, in Q2 2023. Despite a 2% increase in net sales year-over-year, the profit margin faced challenges.

AlphaStreet — Fastenal Q2 Earnings Report Shows Decrease in Profit Amid Sales Rise

Fastenal Q2 Earnings Report

Fastenal Company (NASDAQ: FAST) released its financial results for the second quarter of 2024.

Key Points:

Profit Decline: Net income dropped to $292.7 million from $298.0 million in the same period last year.
Sales Growth: Net sales increased by 2% year-over-year.
Financial Performance: Earnings per share decreased to $0.51 from $0.52 year-over-year.

Conclusion: Fastenal's Q2 report highlights the impact of increased sales on profit margins, showcasing the challenges faced by the company in maintaining profitability.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Fastenal Q2 Earnings Report

Key Points:

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