🔹 EPS: $0.52 (Est. $0.51) 🟢; UP +4% YoY
🔹 Revenue: $1.89B (Est. $1.89B) 🟡; UP +1.9% YoY
🔹 Gross Margin: 46.2% (vs. 46.6% YoY)
🔹 Operating Income: $393.7M; UP +1.8% YoY
🔹 Operating Margin: 20.9% (vs. 21.0% YoY)
Segment/Revenue Mix:
🔹 Fasteners: 33.6% of sales (DOWN from 34.4% YoY)
🔹 Safety Products: 20.6% of sales (vs. 20.3% YoY)
🔹 Other Products: 45.8% of sales (vs. 45.3% YoY)
🔹 Onsite Locations: 1,916 active (+13.6% YoY)
🔹 eCommerce Sales: +19.1% YoY; now 23.7% of total sales
🔹 Daily Sales: +1.9% YoY
Cost/OpEx Metrics:
🔹 Employee Count: +3.3% YoY (primarily in field resources)
🔹 Operating Expenses: +2.1% YoY
🔹 Gross Margin Pressure: slight decline due to customer/product mix
Capital & Return Metrics:
🔹 Operating Cash Flow: $427.9M (UP +14.3% YoY)
🔹 CapEx: $75M
🔹 Free Cash Flow: $352.9M; UP +15% YoY
🔹 Cash Conversion Rate: 1.18x (vs. 1.07x YoY)
🔹 Dividend Paid: $224.7M
🔹 Cash & Equivalents: $224.7M
🔹 Total Debt: $300M
CEO Commentary – Dan Florness:
🔸 “The second quarter reflected disciplined execution and resilient demand across key categories. Growth in Onsite and digital capabilities like eCommerce continues to outpace broader sales trends, and we remain focused on productivity and capital efficiency in a mixed macro environment.”
