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Fastenal (FAST) Q3 FY2021 earnings: revenue $1.6 billion, up 10.0% on the year

Fastenal Co. (FAST) reported revenue of $1.6 billion for Q3 FY2021, the quarter ended 30 September 2021, up 10.0% on the same quarter a year earlier. Net income was $244 million, up 9.9% on the year, and diluted earnings per share $0.21. The figures are the company's own, from the 10-Q it filed with the SEC on 15 October 2021.

Revenue$1.6 billionup 10.0%
Net income$244 millionup 9.9%
Diluted EPS$0.21
QuarterQ3 FY2021ended 30 September 2021

The quarter, against the one before and a year earlier

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Revenue1,554n/an/an/a
Cost of revenue834n/an/an/a
Gross profit720n/an/an/a
Gross margin46.3%n/an/a
Selling, general and administrative402n/an/an/a
Operating income318n/an/an/a
Operating margin20.5%n/an/a
Interest expense2.4n/an/an/a
Pre-tax income316n/an/an/a
Income tax72.6n/an/an/a
Effective tax rate23.0%n/an/a
Net income244n/an/an/a
Net margin15.7%n/an/a
Diluted EPS$0.21n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Operating cash flow167n/an/an/a
Capital expenditure47.4n/an/an/a
Free cash flow120n/an/an/a
Free cash flow margin7.7%n/an/a
Cash from investing-45.6n/an/an/a
Cash from financing-190n/an/an/a
Depreciation and amortisation42.8n/an/an/a
Share-based compensation1.4n/an/an/a
Buybacks0.0n/an/an/a
Dividends paid161n/an/an/a
Dividend per share$0.14n/an/an/a
Diluted shares, weighted1,155mn/an/an/a
Shares outstanding at period end1,150mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2021Quarter beforeA year earlierChange on the year
Shareholders' equity2,965n/an/an/a
Debt365n/an/an/a
Operating lease liabilities161n/an/an/a
Other liabilities732n/an/an/a
Total liabilities and equity4,222n/an/an/a
Fixed assets1,019n/an/an/a
Cash and equivalents250n/an/an/a
Receivables949n/an/an/a
Inventory1,401n/an/an/a
Other assets602n/an/an/a
Total assets4,222n/an/an/a

Questions

What was Fastenal's revenue in Q3 FY2021?

Fastenal (FAST) reported revenue of $1.6 billion for Q3 FY2021, the quarter ended 30 September 2021, up 10.0% on the same quarter a year earlier.

How much did Fastenal earn in Q3 FY2021?

Net income for Q3 FY2021 was $244 million, up 9.9% on the year, and diluted earnings per share $0.21.

When did Fastenal report Q3 FY2021 results?

Fastenal filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 15 October 2021.

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,5541,5321,7041,7791,8021,6961,8591,8831,8461,7591,8951,9161,9101,8241,9592,0802,1332,0282,2022,387
Cost of revenue8348199119519769271,0091,0269989591,0341,0531,0521,0061,0761,1381,1681,1291,2191,323
Gross profit7207137938288267688508588487998628648598188849439668999831,064
Gross margin46%47%47%47%46%45%46%46%46%45%45%45%45%45%45%45%45%44%45%45%
SG&A402412435444447435457463461446471477470473490507524514535562
Operating income318301358383379333393395387354390387388345394436442384448502
Operating margin20%20%21%22%21%20%21%21%21%20%21%20%20%19%20%21%21%19%20%21%
Interest expense2.42.32.42.84.15.03.92.92.11.92.01.81.81.71.72.21.60.70.81.2
Pre-tax income316299356381375328390393385354390386388344393437441385448502
Tax rate23%23%24%25%24%25%24%24%23%25%24%24%23%24%24%24%24%24%24%24%
Net income244231270287285246295298296266298293298262299330336294340383
Net margin16%15%16%16%16%14%16%16%16%15%16%15%16%14%15%16%16%14%15%16%
Diluted EPS$0.21$0.20$0.23$0.25$0.25$0.21$0.26$0.26$0.26$0.23$0.26$0.26$0.26$0.23$0.26$0.29$0.29$0.26$0.30$0.33
Operating cash flow167156230151258302388302388354336258297283262279387368378266
Capital expenditure47.441.935.547.548.042.833.755.946.936.350.856.159.460.255.769.360.360.058.964.1
Free cash flow120114194104210259355246341318285202238223206209327308320202
Buybacks0.00.0n/a49.395.3n/an/a0.00.0n/an/an/an/an/a0.00.0n/an/a20.330.0
Dividends paid161161178178178177200200200417223223223223247252252252276275
Shares outstanding1,150m1,151m1,151m1,149m1,146m1,142m1,142m1,143m1,143m1,144m1,145m1,145m1,146m1,147m1,147m1,148m1,148m1,148m1,148m1,147m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2021, filed 15 October 2021, accession 0000815556-21-000040: the filing on EDGAR. All of Fastenal Co.'s filings: EDGAR company page.