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Fastenal Execs Shed Light on ‘Evolving’ Branch Model
On January’s fourth-quarter earnings call, Fastenal CEO Dan Florness and CFO Holden Lewis pulled back the curtain on how they view the company’s diminishing role of physical branches.
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On January’s earnings call with analysts, Fastenal Co. executives shared the usual facts and figures from the Winona, Minnesota-based distributor’s impressive fourth quarter.
CEO Dan Florness and CFO Holden Lewis ticked off such metrics as revenue and profit growth, earnings per share increase, operating margin improvement and other key stats from both 4Q and 2020. They recounted the positive contributions from the ongoing pandemic-driven product mix (safety was again key to top-line performance), which helped drive record net income and operating cash flow while also providing Fastenal enough capital to acquire Apex Industrial Technologies in March. ....

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