Fastenal Co Reports 12% Revenue Jump to $2.20 Billion in Q1 2026

Fastenal Co (NASDAQ: FAST), a wholesale distributor of industrial and construction supplies, reported net sales of $2.20 billion for the three months ending March 31, 2026, a 12.4% increase from $1.96 billion in the first quarter of 2025. Net income rose 13.8% to $339.8 million from $298.7 million in the prior-year period. Read more earnings reports.

The company's gross profit expanded to $982.9 million from $883.9 million, while operating income reached $447.6 million, up from $393.9 million a year earlier. Selling, general and administrative expenses climbed to $535.3 million from $490.0 million.

Diluted earnings per share stood at $0.30 for the quarter, compared with $0.26 in the first quarter of 2025. The company had 1.15 billion weighted average diluted shares outstanding during the period, up slightly from 1.15 billion a year earlier.

Balance Sheet and Cash Position

Total assets grew to $5.21 billion as of March 31, 2026, from $5.05 billion at December 31, 2025. Cash and cash equivalents increased to $308.6 million from $276.8 million at year-end 2025, and up from $231.8 million at March 31, 2025.

Accounts receivable rose to $1.45 billion from $1.25 billion at the end of December 2025, while inventory decreased to $1.69 billion from $1.75 billion. Property, plant and equipment stood at $1.14 billion, up modestly from $1.13 billion three months earlier.

Current liabilities climbed to $824.1 million from $715.6 million at December 31, 2025, driven by an increase in accounts payable to $363.2 million from $316.8 million. Long-term debt remained steady at $125.0 million.

Cash Flow Performance

Cash from operations surged to $378.4 million for the three months ending March 31, 2026, compared with $262.2 million in the same period of 2025. The company used $57.6 million in investing activities and $288.3 million in financing activities during the quarter.

Total stockholders' equity reached $3.99 billion as of March 31, 2026, up from $3.94 billion at year-end 2025. Retained earnings stood at $3.93 billion, an increase from $3.87 billion at December 31, 2025. The company had 1.148 billion common shares outstanding at quarter-end.

Key Financial Metrics

The Minnesota-incorporated company reported a tax expense of $108.6 million for the quarter, up from $94.4 million in the first quarter of 2025. Cost of goods sold rose to $1.22 billion from $1.08 billion year-over-year.