Management emphasized that Fastenal ( FAST -7.44% ) delivered top-line and bottom-line performance driven by strategic growth with large accounts and expansion in nontraditional markets despite a contracting industrial economy. Direct pricing actions contributed less to growth than originally planned due to customer and market factors, prompting management to lower pricing impact targets for 2025. Inventory build and higher accounts payable were linked directly to tactical efforts to ensure product availability and mitigate tariff risks, which temporarily elevated working capital needs.