Recent Updates — FAST
Fastenal Company reported third-quarter fiscal 2026 results with net income of $401.6 million, or $0.35 per diluted share, up from $335.5 million in the prior year period. Net sales increased 15.5% to $2,463.3 million, driven by a 15.5% rise in daily sales rate, pricing actions, and share gains with larger customers. Operating margin expanded 90 basis points year-over-year to 21.5%, as SG&A expense leverage offset customer mix-related gross margin pressure. The company generated $422 million in operating cash flow, representing 105% of net income, and returned $328 million to shareholders through dividends and share repurchases. Fastenal operates in the industrial supply chain sector, providing fasteners, safety supplies, and tools.
Fastenal Company's Board of Directors appointed Jeffery M. Watts as a director to succeed Daniel L. Florness, effective July 16, 2026, coinciding with his transition to President and CEO. The Compensation Committee approved a new compensation package for Mr. Watts, which includes an annual base salary of $650,000 and specific cash incentive awards based on pre-tax income and ROA Assets Program. Fastenal Company is a distributor of industrial and safety supply products.
On July 14, 2026, Fastenal Company issued a press release announcing its financial results for the most recently ended fiscal quarter. Fastenal operates in the industrial distribution industry, wholesaling fasteners and industrial supplies.
Fastenal Company entered into a Second Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, renewing its $835 million revolving credit commitment and increasing its accordion option to a potential total of $1,335,000,000. The agreement extends the revolving credit maturity date to June 18, 2031, and modifies financial covenants to require a minimum interest coverage ratio of 3.00 to 1.00 and a maximum consolidated total leverage ratio of 3.00 to 1.00. Additionally, the Company amended its Master Note Agreement to reduce the aggregate principal amount of outstanding Notes to $600 million and extend the issuance period to June 18, 2031. Fastenal Company is a distributor of industrial and safety supplies.
Fastenal Company elected Vishal Talwar as an independent director, effective June 12, 2026, increasing the Board of Directors to twelve members. Mr. Talwar, currently the Executive Vice President and Chief Digital and Information Officer at FedEx Corporation, also joined the Board's Nominating and Corporate Governance Committee. Fastenal Company is a distributor of industrial and safety supplies.