FAST earnings analysis
What we found in FAST's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Fastenal reported solid second quarter results for 2026, with revenue of $2.39 billion and EPS of $0.33, in line with analyst expectations. The company continued to see strong year-over-year growth in daily sales, driven by robust demand in the manufacturing sector and effective pricing strategies, despite experiencing some margin pressure. Management anticipates an increase in capital expenditures for the year, now projected to be between $310 million and $330 million.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Revenue for Q2 2026 reached $2.39 billion, up 14.7% from $2.08 billion in Q2 2025.
- EPS Matches Estimates
- Diluted EPS for Q2 2026 was reported at $0.33, matching analyst estimates and up from $0.29 in Q2 2025.
- Strong Operating Income
- Operating income was $501.8 million, reflecting a 15.1% increase year-over-year.
- Improvement in SG&A Efficiency
- SG&A expenses as a percentage of net sales improved to 23.5% from 24.4% YoY, demonstrating effective cost management.
- Return of Capital to Shareholders
- Fastenal returned $305.1 million to shareholders in Q2 2026, representing 79.7% of net income.
- Strong Daily Sales Growth
- Daily sales increased 14.7% year-over-year, driven by improved customer contract signings.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Current Liabilities Increase
- Current portion of debt surged to $70 million from $25 million at the end of 2025, indicating increased leverage.
- Cash Flow Declines
- Net cash provided by operating activities decreased 4.6% YoY to $265.7 million due to higher cash used for accounts receivable.
- Gross Margin Pressure
- Gross margin decreased to 44.6% from 45.3% in Q2 2025, mainly due to unfavorable pricing and customer mix.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.33
- Gross margin
- 44.6%
- Operating margin
- 21.0%
What they said about what is next.
2026 capital expenditures now expected to be between $310 million and $330 million, increased from a prior estimate of $230 million.
The filing reads better than the one before it.
What came before.
- 10-Q · April 16, 2026
- Fastenal delivered solid Q1 results with revenue of $2,201.7 million (up 12.4% YoY) and diluted EPS of $0.30 (up 13.6% YoY). Operating income rose to $447.6 million (up 13.6%) with operating margin expanding slightly to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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