Fastenal Company Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Net Capital Expenditures Guidance for the Year 2017
For the full year, the company reported net sales of $3,962,036,000 compared with $3,869,187,000 for the same period a year ago. Operating income was $795,839,000 compared with $828,755,000 for the same period a year ago. Earnings before income taxes were $789,729,000 compared with $826,020,000 for the same period a year ago. Net earnings was $499,478,000 or $1.73 per diluted share compared with $516,361,000 or $1.77 per diluted share for the same period a year ago. Net cash provided by operating activities was $513,999,000 compared with $546,940,000 for the same period a year ago. Purchases of property and equipment were $189,451,000 compared with $155,168,000 for the same period a year ago.
The company expect its net capital expenditures to be approximately $119 million in 2017, a decrease of $64 million, or 35% from 2016.