Fastenal Company (NASDAQ: FAST) on Friday announced second-quarter 2024 financial results, reporting lower net income despite an increase in revenues.
Net income was $292.7 million or $0.51 per share in the second quarter of 2024, compared to $298.0 million, or $0.52 per share, in the same period of 2023.
Net sales edged up 2% year-over-year to $1.92 billion in Q2. The top line benefited from higher sales to larger customers and Onsite locations opened in the last two years. The company signed 107 new onsite locations and ended the quarter with a total of 1,934 active sites.