FAST - Fastenal Defies Odds with Q2 Sales Growth Amid Supply Chain Challenges and Margin Squeeze: Details | Benzinga
Fastenal Company (NASDAQ:FAST) shares are trading higher after the company reported second-quarter fiscal 2024 sales growth of 1.8% year-over-year to $1.916 billion, matching the consensus of $1.915 billion.
The growth was driven by higher unit sales from larger customers and new Onsite locations despite negative impacts from foreign exchange rates and a decline in product pricing.
Weighted FASTBin/FASTVend signings (MEUs) rose 5.8% Y/Y to 7,188; Weighted FASTBin/FASTVend installations rose 11.4% Y/Y.
FAST’s Digital Footprint represented 59.4% of sales in the quarter, an increase from 55.3% in the second quarter of 2023.
The gross margin ...