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Fastenal : Investor Teleconference Presentation Third Quarter 2017

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10/11/2017 | 12:54 pm
Investor Teleconference Presentation Third Quarter 2017‌‌‌‌‌‌‌‌‌

Fastenal Company October 11, 2017

1

Safe Harbor Statement

All statements made herein that are not historical facts (e.g., goals regarding Onsite and vending signings as well as expectations regarding FTE, leverage, cash flow, and capital expenditures) are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. More information regarding such risks can be found in the Form 10-K for Fastenal Company for the year ended December 31, 2016 filed with the Securities & Exchange Commission. Any numerical or other representations in this presentation do not represent guidance by management and should not be construed as such. The appendix to the following presentation includes a discussion of certain non-GAAP financial measures. Information required by Regulation G with respect to such non-GAAP financial measures can be found in the appendix.

2

CEO Messages on 3Q17

EPS

(Fully-Diluted)

$0.60

$0.50

$0.50 $0.44

$0.40

$0.30

$0.20

$0.10

$0.00

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

  • Sales growth accelerated in 3Q17 and through September. Year-to-date daily sales growth, at 10.1%, returned to double-digits for the first time since 2014.

  • Growth drivers continue to grain traction. Onsite had record 3Q17 signings, putting us on track for 275-300 signings. Vending and national account sales are outgrowing the overall business.

    16%

    14%

    12%

    10%

    8%

    6%

    4%

    2%

    0%

    (2%)

    (4%)

    Daily Sales Rate (DSR) Growth

    13.6%

    8.8%

    6.2%

    10.6%

    5.0%

    2.7%

  • Operating expense leverage-despite one fewer day in the period-produced a higher operating margin. It also more than offset a gross margin affected by storms, mix and fewer organizational tailwinds. Year-to-date, SG&A as a percent of sales is at a record low.

    1.5%

    1.9% 1.6% 1.8%

    (2.0%)

  • Our 3Q17 operating cash flow generation was a record for any third quarter.

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

3

3Q17 Growth Driver Update

Onsite Signings and Active Sites

100

555

600

81

  • Signed 81 Onsites, finishing with 555 active sites (up 47.6% from 3Q16). Our 2017 goal remains 275-300 signings (vs. 176 signings in 2016).

    80

    480

    60

    360

    40

    240

    20

    120

    0

    0

  • Total in-market1 sites were 2,973 in 3Q17, up from 2,921 in 3Q16. This reflects a slight decline in our public branch count, more than offset by a higher Onsite count.

    1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

    Signings

    Active Sites

    Vending Device Signings and Installed Base2

    (in thousands)

    7

    6

    5

    4

    3

    2

    1

    0

    69.058

    4.771

    80

    70

    60

    50

    40

    30

    20

    10

    0

  • We signed 4,771 vending devices (down 0.3% from 3Q16). Product sales through these devices rose double digits and we experienced a lower rate of device removal in 3Q17.

  • National Accounts daily sales rose 17.3% in 3Q17 vs 3Q16.

1In-market locations include public branches (U.S. and ROW) plus Onsites

2Vending data excludes units related to our leased locker program

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

Signings

Installed Base

4

Fastenal Company published this content on 11 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 October 2017 10:54:02 UTC.

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