Impressive Sales Growth and Margin Expansion Were the Highlights of Fastenal’s 2Q
Fastenal put together a nice second quarter as the wide-moat distributor increased sales almost 11% year over year, expanded its gross margin by 30 basis points to 49.8%, and expanded its operating margin by 60 basis points to 21.2%. In terms of sales growth, nonfastener products led the charge with about 12% growth, while fastener sales grew about 8%.Fastenal’s second-quarter gross margin performance is especially noteworthy because this quarter marks the first time the firm has posted year-ov...
Fastenal is engaged in the wholesale distribution of industrial and construction supplies. The company is a distributor of fasteners and related industrial and construction supplies. This includes threaded fasteners, bolts, nuts, screws, studs, and related washers, as well as miscellaneous supplies and hardware, such as pins, machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets, and related accessories. The company's fastener product line is primarily sold under the Fastenal product name.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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