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Dan Florness

๐Ÿ‘ค Speaker
68 total appearances

Appearances Over Time

Podcast Appearances

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

You certainly ask interesting questions.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

Well, part of the reason our stock's down is it's priced to perfection.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

If you look at what it's done, you know, year to date and where the multiple has gone.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

But, you know, we had a really good quarter.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

We had a double-digit quarter.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

We hadn't seen that for a couple years.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

Double-digit growth, sorry.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

And pleased with the outcome.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

One of the challenges we had this year was

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

There's a lot of fluidity around tariffs and what it means for pricing.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

And we will raise price to address costs in our customer supply chain.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

We really don't want to raise more than that because we believe it impairs our ability to grow as fast as we'd like.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

And coming into the quarter, we estimated X for impact of pricing, came in a little bit less.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

We lowered our number for the fourth quarter

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

But the most important aspect is on a price cost basis, we are neutral and that's what we aspire to be.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

We'd rather just grow.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

Yeah.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

Customers always push back on pricing.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

It doesn't matter the size customer.

Bloomberg Talks
Fastenal CEO Dan Florness Talks Earnings

We are having conversations with our customer.

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