Fastenal Company (FAST) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 13, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, and welcome to the Fastenal Second Quarter 2022 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Taylor Ranta of Fastenal Company. Please go ahead, Taylor.

Taylor Ranta Oborski - Financial Reporting and Regulatory Compliance Accountant

Welcome to the Fastenal Company 2022 second quarter earnings conference call. This call will be hosted by Dan Florness, our President and Chief Executive Officer; and Holden Lewis, our Chief Financial Officer. This call will last for up to 1 hour, and we'll start with a general overview of our quarterly results and operations with the remainder of the time being open for questions and answers.

Today’s conference call is a proprietary Fastenal presentation and is being recorded by Fastenal. No recording, reproduction, transmission or distribution of today’s call is permitted without Fastenal's consent. This call is being audio simulcast on the Internet via the Fastenal Investor Relations homepage, investor.fastenal.com. A replay of the webcast will be available on the website until September 1, 2022, at midnight Central Time.

As a reminder, today’s conference call may include statements regarding the company’s future plans and prospects. These statements are based on our current expectations, and we undertake no duty to update them. It is important to note that the company’s actual results may differ materially from those anticipated. Factors that could cause actual results to differ from anticipated results are contained in the company’s latest earnings release and periodic filings with the Securities and Exchange Commission and we encourage you to review those factors carefully.

I would now like to turn the call over to Mr. Dan Florness - President & CEO.

Dan Florness - President & CEO

Thank you, and good morning, everybody, and thank you for joining us for today's earnings call. Who you choose to surround yourself in life gives you freedom to do a lot of things and to find success with others. And one thing I found on this call is Holden has done such a fine job with sharing with the investment community, particularly the sell-side analyst community, the trends he is seeing in the business that it affords me the opportunity to be a bit more philosophical and talk to our shareholders, but also talk to the employees of Fastenal on this call.