Fastenal Reports In-Line Q3 Results but Shares Dip Due to Higher Spending Outlook
Fastenal (NASDAQ: FAST) reported third-quarter results that met expectations, with earnings per share of $0.35 and revenue rising 15% year-over-year to $2.46 billion. Despite the solid performance, shares fell about 3% in premarket trading due to higher-than-expected capital spending plans for 2026. The company anticipates property and equipment spending of $310 million to $330 million net of proceeds from sales, up significantly from $230.6 million in 2025. The increase is attributed to infrastructure upgrades at its Atlanta hub, IT investments for delayed projects, and higher trucking costs. Operating income rose by 20% year-over-year to $530.8 million, exceeding estimates, while operating margin widened due to cost leverage despite a slight decline in gross margin.
Tickers: $FAST
Topics: capital expenditures industrial distribution operating performance