- Fastenal beat operating income expectations by about 4% in Q4, and January sales results showed an ongoing recovery in manufacturing customer demand.
- Manufacturing demand should improve throughout 2021 as industrial output recovers, but non-resi has been weakening and I'm not bullish there for '21.
- Commercializing its smart bin technology should allow Fastenal to manage customer inventories even more efficiently, allowing the company to enter some niches that were previously insufficiently profitable.
- Fastenal shares remain expensive.
For further details see:
Fastenal Seeing The Start Of A Rebound, And Bullish On Margins