Fastenal Company (NASDAQ:FAST) Q1 2019 Earnings Conference Call - Final Transcript

Apr 11, 2019 • 10:00 am ET


Fastenal Company (NASDAQ:FAST) Q1 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Fastenal Company First Quarter 2019 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) And as a reminder, this conference is being recorded.

I'd now like to hand the call over to Ms. Ellen Stolts. You may begin.

Ellen Stolts

Welcome to the Fastenal Company 2019 first 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. The call will last for up to one hour and will 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 home page, A replay of the webcast will be available on the website until June 1, 2019, 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.

Daniel L. Florness

Thank you, Ellen, and good morning everybody. And thank you for joining us for our first quarter earnings call.

I'm going to -- before I step into Holden's flipbook, just going to touch on a few comments that I had with our leadership in our normal call at 7 o'clock this morning to talk about the quarter, to give them a little insight about some things that we'll be focusing on the call, as well as just some of the comments I made to them.

My first comment to them this morning was a sincere thank you for a job well done. I think this is a really nice start to the year. I'm pleased with the performance we're seeing across our business units throughout the planet and a very positive start to the year.

I also mentioned them about the challenge that comes when you get into the -- a multi-year improvement in business. So, when I think back to stepping into this role back in 2000 -- late in 2015, we've had a tough year. The economy had not been our friend that year. And when you're exposed to the industrial marketplace and it flips on you, it can cause some pain in