Fastenal Company Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 15, 2016 at 06:50 am EST
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Fastenal Company announced unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net sales of $922,793,000 compared with $926,254,000 for the same period a year ago. Operating income was $179,142,000 compared with $189,021,000 for the same period a year ago. Earnings before income taxes were $178,205,000 compared with $188,819,000 for the same period a year ago. Net earnings was $111,904,000 or $0.39 per diluted share compared with $118,391,000 or $0.40 per diluted share for the same period a year ago. The decrease in net sales in the three-month period came primarily from a drop in their customers' discretionary spending, as well as a greater frequency of customer plant shutdowns, primarily in November and December of 2015.
For the full year, the company reported net sales of $3,869,187,000 compared with $3,733,507,000 for the same period a year ago. Operating income was $828,755,000 compared with $787,590,000 for the same period a year ago. Earnings before income taxes were $826,020,000 compared with $787,434,000 for the same period a year ago. Net earnings was $516,361,000 or $1.77 per diluted share compared with $494,150,000 or $1.66 per diluted share for the same period a year ago. Net cash provided by operating activities was $546,940,000 compared with $499,392,000 for the same period a year ago. Purchases of property and equipment were $155,168,000 compared with $189,474,000 for the same period a year ago. The increase in net sales in the twelve-month periods noted for 2015 and 2014, and three month period for 2014, came primarily from higher unit sales.
Fastenal Company is one of the North American leaders in industrial and construction material distribution. Net sales break down by family of products as follows:
- fastening products (32.4%): screws, nuts, bolts, joints, etc.;
- protection equipment (21.2%);
- storage and handling equipment (14%);
- industrial assembly and disassembly tools (8.5%);
- pneumatic and hydraulic tools (6.7%);
- cutting equipment (5.3%);
- electrical materials (4.6%);
- welding equipment (4.1%);
- other (3.2%).
At the end of 2023, the group had 3,419 outlets located primarily in the United States/Puerto Rico/Dominican Republic (2,783), Canada (283), Mexico (197), and Europe (89).
Net sales are distributed geographically as follows: the United States (83.6%), Canada and Mexico (13.4%) and other (3%).