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Fastenal Company is a leader in the wholesale distribution of industrial and construction supplies, operating through a network of over 3,400 in-market locations primarily in North America, with additional presence in Europe and Asia . The company offers a broad range of products across three main categories: fasteners, safety supplies, and other product lines. Fastenal's business model emphasizes proximity to customers through its extensive branch network and Onsite locations, which support both original equipment manufacturing (OEM) and maintenance, repair, and operations (MRO) needs .
- Other Product Lines - Encompasses a variety of products including tools, janitorial supplies, and cutting tools, catering to diverse industrial needs.
- Fasteners - Includes items like bolts, nuts, and screws, serving as essential components in construction and manufacturing.
- Safety Supplies - Offers a range of products designed to ensure workplace safety, benefiting from cross-selling and industrial vending initiatives.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Anthony P. Broersma Executive | Executive Vice President – Operations | None available | EVP of Operations since October 2023, with over 20 years at Fastenal. | |
Daniel L. Florness Executive | Chief Executive Officer | Board of Directors of H.B. Fuller; Board of Trustees of Bellin Gundersen Health System, Inc. | CEO of Fastenal since August 2024, previously served as CFO and President. | View Report → |
Donnalee K. Papenfuss Executive | Executive Vice President of Strategy and Communications | None available | EVP of Strategy and Communications since November 2024, leading sales enablement and strategic planning. | |
James C. Jansen Executive | Executive Vice President – Manufacturing | None available | EVP of Manufacturing since January 2016, overseeing industrial services and manufacturing operations. | |
Jeffery M. Watts Executive | President and Chief Sales Officer | None available | Joined Fastenal in 1996, became President and Chief Sales Officer in August 2024. | |
John L. Soderberg Executive | Senior Executive Vice President – Information Technology | None available | Senior EVP of IT, overseeing digital transformation and IT strategy. | |
Noelle J. Oas Executive | Executive Vice President – Human Resources | None available | EVP of Human Resources since February 2023, leading HR department and initiatives. | |
Sheryl A. Lisowski Executive | Executive Vice President - Chief Accounting Officer and Treasurer | None available | EVP - Chief Accounting Officer and Treasurer, confirmed in role as of January 2025. | |
William J. Drazkowski Executive | Executive Vice President – Sales | None available | EVP of Sales since July 2023, overseeing Fastenal's contract portfolio. | |
Brady D. Ericson Board | Director | President and CEO of PHINIA Inc. | Director at Fastenal since January 2025, also serving as President and CEO of PHINIA Inc. | |
Irene A. Quarshie Board | Director | Audit Committee Member of the Executive Leadership Council | Director at Fastenal since June 2023, SVP of Global Supply Chain and Logistics at Target Corporation. | |
Sarah N. Nielsen Board | Director | Chair-Elect and Executive Committee Member of Clear Lake Area Chamber of Commerce | Director at Fastenal since 2021, CFO of First Citizens Bank, with a background in strategic acquisitions and financial management. |
- Given the increased duties in Mexico and Canada that have negatively impacted your gross margin, how do you plan to mitigate these costs going forward, and what strategies are in place to address the risk of further trade barriers?
- With Onsite signings expected at the lower end of your 375 to 400 target range and a potential strategic shift toward customer acquisition, how will this impact your growth trajectory and the way you measure success moving forward?
- Branch performance in the Western U.S. has been slightly negative while the Eastern U.S. shows growth; what specific actions are you taking to address these regional disparities, and how confident are you in achieving branch growth in 2025?
- You've added inventory into your distribution network to improve availability and anticipate cost benefits starting next year; what risks do higher inventory levels pose if demand doesn't meet expectations, and how are you managing these risks?
- Capital expenditures are projected to decrease in 2025 after significant investments this year, particularly in your Utah hub; how are you prioritizing CapEx investments in an uncertain economic environment, and what returns do you expect from these investments in the near term?
Recent press releases and 8-K filings for FAST.
- Fastenal announces a two-for-one forward stock split of Common Stock, effective at the close of business on May 21, 2025 (record date May 5, 2025), with adjustments to equity compensation plans—celebrated as a recognition of long-term employee commitment and shareholder value [doc index 5] .
- The company updated its Restated Articles of Incorporation to reflect a revised share structure post-split [doc index 1] [doc index 2].
- Significant operational milestones were achieved, including 130,000 FMI device installs and the opening of a new 100,000+ sq ft facility in Monterrey .
- Strategic digital advancements were unveiled, incorporating AI-driven quoting tools, replatforming the FAST 360 portal, modernizing the FASTCrib system, and launching an employee engagement application .
- At its Annual Meeting, shareholders approved director elections and ratified PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending December 31, 2025 [doc index 6].
- Net sales reached $1,959.4 million in Q1 2025, up 3.4% YoY with daily sales growing by 5.0% despite sluggish end-market demand .
- Recorded operating income of $393.9 million (20.1% margin) and net income of $298.7 million, with diluted EPS of $0.52 .
- Operating margin declined from 20.6% in Q1 2024 to 20.1% in Q1 2025, and gross margin slipped from 45.5% to 45.1% due to cost pressures, one less selling day, and product mix changes .
- Management implemented tariff-related pricing actions, projecting a 3-4% impact in Q2, and increased inventories by 11.9% to support supply chain needs .
- Distributed $246.7 million in dividends this quarter and raised the quarterly dividend to $0.44, setting a pace to return over $1B to shareholders in 2025 .
- A modest rise in SG&A expenses amid challenging market conditions underscores a period of cautious yet steady growth .
- Sheryl A. Lisowski has been named interim Chief Financial Officer, effective April 17, 2025, while retaining her role as Executive Vice President – Chief Accounting Officer and Treasurer.
- Her base salary will increase from $320,000 to $440,000 with a new quarterly cash incentive bonus tied to company performance.
- The report, filed on April 10, 2025, reflects a significant management change by the Fastenal Board.
- Strategic model shift: Fastenal is transitioning from a traditional retail (CSP) approach to a key account–centered strategy via its Focus40 initiative and global partnerships (e.g., in Mexico) to achieve double-digit revenue growth.
- Innovative supply chain tools: Executives showcased an enhanced toolbox—including FASTCrib, FMI solutions, and revamped eBusiness capabilities—designed to streamline operations and deliver tailored supply chain solutions.
- Data-driven technological enhancements: The call emphasized leveraging AI and advanced data analytics to boost operational efficiency, optimize inventory management, and improve customer engagement across markets.
- Investor Presentation on March 13, 2025 delivered key updates on the company's strategic alignment, including a transformation of its contract sales model and initiatives aimed at sustaining double-digit sales growth.
- Digital and Supply Chain Innovation was emphasized with advances in digital solutions such as FAST360 and enhanced data analytics to improve supply chain efficiency and customer engagement.