S&P 500 Index

+30.81 (+0.55%)
StockTwits Share  Twitter Share  Facebook Share

Fastenal Reports Q1 Earnings: Potential Indicator for U.S. Industry

Date Published:
Author: CML News


Industrial distributor, Fastenal's first quarter earnings report shows stable profit margins and a drop in inflation, which could be a positive indicator for the industrial economy in the U.S.



  • Fastenal reported Q1 earnings per share of 52 cents, beating Wall Street expectations by one cent.
  • The report shows stable profit margins and a drop in inflation, which could indicate a positive trend for the industrial economy.
  • The Institute for Supply Management Purchasing Manager Index has been below 50 for five consecutive months, indicating a shrinking sector.
  • Despite this, Fastenal and the Institute for Supply Management PMI are good real-time reads on the industrial economy, and Fastenal's report shows that things are looking slightly better than expected.
  • Pricing was up 3% YoY, and profit margins increased to 21.%, up from 19.6% in Q4 2022.
  • Sales at 82 of Fastenal's top 100 customer accounts grew in the quarter.
  • Nonresidential construction markets saw a negative impact, with Fastenal's average daily sales falling 2.4% YoY.
  • Fastenal management will hold a conference call to discuss the results and the state of the U.S. industrial economy.
  • Fastenal's stock is up 11% YTD, trading at about 27 times estimated 2023 earnings, which is slightly lower than the past few years.

Stock Charting as a Science

CML Pattern Finder is the answer. It takes the guesswork and time out of understanding stock charts and screening for traders.

Transform a standard stock chart into a trading plan — instantly. We mean that - it takes less than 3 seconds for the platform to take a stock chart and apply algorithms to show congestion, support, resistance, and moat, importantly target zones.

You have to experience it to believe and experience is just a (free) click away below

Leverage the market like a pro, and keep leveraging it, all for less than $1 a day.

We are offering a huge discount on this page: Pattern Finder: The Next Era of Charting