"I'm extremely excited about expanding our relationship with FFA," said Casey Miller, Fastenal's senior executive vice president of sales. "The future of farming and food production in our country is such an important priority and Fastenal is here to do its part." With the new sponsorship, Mr. Miller joins the National FFA Sponsors' Board and Fastenal expands its presence at the National FFA Convention and Expo held each October. In addition, Fastenal will continue to provide targeted support to FFA members ...

Core Insights - Tree Island Steel reported a decline in revenues for the three months and nine months ended September 30, 2025, primarily due to U.S. tariffs impacting sales of wire products to the U.S. market, although there was some mitigation from increased sales within Canada [2][3][4] Financial Performance - For the three months ended September 30, 2025, revenues decreased by $14.8 million to $36.8 million from $51.6 million in 2024, with gross profit down by $0.3 million due to lower production volumes [2][5] - For the nine months ended September 30, 2025, revenues fell by $32.8 million to $129.4 million from $162.2 million in 2024, attributed to reduced U.S. sales volumes and a strategic withdrawal from unprofitable products [3][5] - Adjusted EBITDA improved to $0.2 million for the three months ended September 30, 2025, compared to $6 thousand in the same period last year, while for the nine months, it decreased by $1.5 million [2][7] Operational Challenges - The company continues to face challenges due to U.S. tariffs on commodity galvanized wire, impacting overall sales and profitability [4][6] - Gross margins remained consistent with the prior year, but gross profits were lower by $1.9 million due to lower production levels [3][5] Key Financial Metrics - For the three months ended September 30, 2025, the net loss was $2.141 million, compared to a net loss of $1.846 million in 2024, with a net loss per share of $0.08 [5][7] - Total assets as of September 30, 2025, were $165.196 million, down from $168.817 million in December 2024 [5][7]

Powerful Solutions. Proven Results. NASDAQ: DSGR Baird Global Industrial Conference November 13, 2025 Disclaimers Cautionary Note Regarding Forward-Looking Statements This presentation contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the "safe-harbor" provisions under the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. The terms ...

Core Viewpoint - Tree Island Steel Ltd. has received approval from the Toronto Stock Exchange to renew its normal course issuer bid to repurchase up to 1,290,000 common shares, which is approximately 5% of its issued and outstanding shares, with the bid period running from November 12, 2025, to November 11, 2026 [1] Group 1: Share Repurchase Details - The company plans to purchase shares through the TSX or any Canadian alternative trading system, with all repurchased shares to be cancelled [1] - As of October 31, 2025, Tree Island Steel had 25,909,295 common shares issued and outstanding, with a public float of 9,307,399 shares [2] - The maximum number of shares that can be purchased on any trading day is 2,177, which is 25% of the average daily trading volume over the previous six months [2] Group 2: Previous Share Repurchase Program - In the previous normal course issuer bid (2024 NCIB), Tree Island Steel acquired 108,571 common shares at a weighted average price of $2.5623 per share, with the program allowing for the purchase of up to 1,300,000 shares [3] - The 2024 NCIB is set to expire on November 10, 2025 [3] Group 3: Strategic Rationale - The board of directors has decided to renew the normal course issuer bid, believing that repurchasing shares at the current market price is a beneficial use of funds and in the best interests of the company and its shareholders [4] Group 4: Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, produces a variety of wire products for industrial, residential, commercial, and agricultural applications [5] - The company's product offerings include galvanized wire, bright wire, fasteners, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products, marketed under various brand names [5]

Core Viewpoint - Tree Island Steel Ltd. is set to report its third quarter 2025 financial results on November 13, 2025, after market hours [1] Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, operates facilities in Canada and the United States [2] - The company produces a variety of wire products for industrial, residential construction, commercial construction, and agricultural applications [2] - Product offerings include galvanized wire, bright wire, fasteners (packaged, collated, and bulk nails), stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products [2] - The company markets its products under several brand names, including Tree Island, Halsteel, K-Lath, TI Wire, Tough Strand, and ToughPanel™ [2]

Core Thesis - Simpson Manufacturing Co., Inc. (SSD) demonstrated strong quarterly performance, exceeding revenue and EPS estimates, which supports a bullish investment thesis [2][4] Financial Performance - SSD reported revenue of $631 million, surpassing the $599 million estimate, and adjusted EPS of $2.47 compared to the consensus of $2.31 [2] - The trailing P/E ratio for SSD was noted at 22.94 as of September 22nd, with shares trading at $180.27 [1] Growth and Guidance - Organic growth in North America was modest at 4.5% year-over-year, while Europe experienced a decline of 2.7% excluding currency effects [2] - Management reaffirmed guidance for 2025, indicating continued confidence in profitability [2] Operational Highlights - The Columbus facility was completed on time and under budget, enhancing domestic production capabilities and supporting margin expansion [3] - Analysts expect mid-single-digit price increases to contribute to revenue growth, with potential for further price adjustments in response to tariffs [3] Market Reaction and Positioning - Following the strong quarterly results, SSD's stock gained nearly 10%, reflecting a catch-up to fair value rather than a structural rerating [4] - SSD is positioned well with solid cash flow generation, margin resilience, and capacity expansion, indicating a low-risk investment case with potential upside [4] Comparison with Industry Peers - A comparison was made with Owens Corning (OC), which has faced a 23.57% depreciation since previous coverage, yet maintains strong fundamentals [5] - Andrew Beeli emphasizes SSD's operational execution and disciplined cost management as key differentiators in the current market [5]

Company Overview - Fastenal Company operates approximately 1,600 branch locations across 25 countries, providing a wide range of fasteners, safety products, metal cutting products, and other industrial supplies to various sectors including manufacturing, construction, and government [2][3]. - The company employs a "high-touch, high-tech" approach, focusing on local expertise, customer-facing technology, and efficient supply chain management to help customers reduce costs and risks [2]. Recent Developments - Fastenal has announced a conference call scheduled for October 13, 2025, at 9:00 a.m. central time to review its third quarter earnings and current operations [1]. - The company has launched a new high-tech distribution center in Magna, Utah, covering 298,000 square feet, aimed at enhancing operational efficiency and customer service in the region [4].

Company Overview - Nucor Corporation (NYSE:NUE) is a North Carolina-based steel producer, responsible for approximately 25% of all raw steel production in the US [2] - The company has a diverse product lineup including bars, beams, sheets, plates, grating, fasteners, joists, overhead doors, and full metal building systems [2] - Nucor serves over 10,000 clients, with no single customer accounting for more than 5% of its revenue [2] Performance Highlights - Nucor's stock has increased by over 23.5% since the beginning of 2025, positioning it among the best-performing dividend stocks [2] Competitive Advantages - The company utilizes electric arc furnaces, which are more efficient and environmentally friendly compared to traditional blast furnaces, as they melt scrap metal instead of using coking coal and iron ore [3] - Nucor owns The David J. Joseph Company, a major scrap broker and processor in the US, ensuring a reliable supply of low-cost recycled metal [3] Dividend Policy - Nucor is recognized as a Dividend King, having achieved 52 consecutive years of dividend growth [4] - The company pays a quarterly dividend of $0.55 per share, resulting in a dividend yield of 1.56% as of September 15 [4]

Company Overview - DSG is a leading specialty industrial distribution platform with a focus on MRO, OEM, and Industrial Technologies [12] - The company's TTM Adjusted Revenue as of June 30, 2025, was $1.96 billion [13] - Adjusted EBITDA margin was approximately 9.6% [13] - The company has over 200,000 customers and offers over 740,000 unique SKUs [13] Financial Performance - Q2 2025 revenue reached $502 million, a $63 million or 14.3% increase year-over-year, with organic average sales growing 3.3% [51] - Q2 2025 adjusted EBITDA was $48.6 million, representing 9.7% of sales [51] - The company has authorized a $37.5 million share repurchase program, with $20 million repurchased YTD 2025 and $6.3 million still available under prior authorizations [53] Strategic Focus - The company has a dual-pronged growth strategy, focusing on end markets with long-term strong tailwinds and strategic acquisitions [23] - Since 2022, DSG has completed 11 strategic acquisitions with purchase price range from 4.6x – 9.4x (weighted 8.3x) [23] - The company serves a broad and diverse set of end markets, catering to over 200,000 customers [24]

Financial Data and Key Metrics Changes - The company reported a positive comp growth of 4.7% in July, improving from negative comps in May and positive comps in June, indicating a strong exit rate from the second quarter [11] - The management expressed cautious optimism regarding consumer health, noting that homeowners are willing to spend when they perceive value [12][13] Business Line Data and Key Metrics Changes - The acquisition of Foundation Building Materials (FBM) is expected to enhance the company's capabilities in serving large professional customers, which is a segment not significantly served by the company previously [5][6] - FBM's diverse customer base includes approximately 45% residential and 55% commercial, which aligns with the company's strategy to expand its market presence [4] Market Data and Key Metrics Changes - The company identified a total addressable market of $250 billion for large professional customers, which presents new opportunities following the acquisition of FBM [5][30] - The management highlighted a significant need for 18 million new homes by 2033, indicating a strong demand in the housing market that the company aims to capitalize on [7][28] Company Strategy and Development Direction - The company is focused on retail fundamentals and has made significant investments over the past seven years to modernize its strategy for an omnichannel retail environment [10] - The management emphasized the importance of a balanced capital allocation strategy, which includes investments in business growth, dividend increases, and share repurchase plans once leverage targets are met [26][31] Management Comments on Operating Environment and Future Outlook - The management anticipates stable consumer behavior in the second half of the year, with potential tariff-related price increases being the only significant concern [40] - The company is closely monitoring the mortgage rate environment, believing that a sub-6% rate could unlock consumer spending in the housing market [14][15] Other Important Information - The company has shifted its sourcing strategy, with 60% of goods now sourced from the U.S., reducing dependency on China [20][21] - The management is excited about the early results from the new product marketplace initiative, which aims to broaden the product assortment and attract new customers [35][36] Q&A Session Summary Question: Expectations for consumer health in the back half of the year - The management expects consumer health to remain stable, with no significant changes anticipated in behavior [40] Question: Pricing actions taken and elasticity response - The management noted that the first half did not see significant tariff-related pricing adjustments, but they are prepared to leverage their portfolio for competitive pricing in the back half [42][44] Question: Inventory growth expectations and supply chain disruptions - The management expressed confidence in their inventory position, stating that most second-half buys are already completed and there are no concerns about supply chain disruptions [46][48] Question: Non-tariff margin drivers outlook - The management does not foresee any significant expense-related increases and is committed to productivity improvement initiatives [49][52] Question: Market share consolidation outlook - The management believes that while there will be additional consolidation in the market, the pro market will remain fragmented with many regional players [53][54]