Carol Massar

Catch him at 11 a.m.

Wall Street time, Monday through Friday.

Our next guest is head of a company in the great state of Minnesota.

We're talking about Fastenal.

Recently reported earnings, the stock selling off on the day of the report, but rallying the day after the most in nine months.

That trade reaction had us scratching our heads.

So we're grateful, Carol, to have back with us to talk about the release of the outlook.

The CEO of the close to $50 billion market cap company, Fastenal, Dan Flournes, is back with us.

Dan, one thing that we're trying to figure out is getting a good read on the economy.

And you guys have such a great read on it, given that you touch so many sectors.

I mean, if you're using nuts, bolts, screws, anchors, rivets, any kind of fastener, industrial janitorial safety supplies, you guys do it.

On earnings, you mentioned the broader market conditions remained mixed.

What exactly did you mean by that?

When you say mixed, what's the good?

What's the bad?

What is the pricing power, Dan, that the company has right now?

Because historically during periods of inflation, you've been able to be pretty aggressive with price increases.

I think people would argue you weren't as aggressive as you could have been in 2025.

What's the barrier to pushing price more aggressively?

So that's on the sourcing side, but what about on your customer side and about customers moving manufacturing back to the US?