The company signed 102 new Onsite locations in Q1 2024, bringing the total to 1,872 active sites, an 11.8% increase year-over-year. This indicates a continued focus on expanding customer-specific service locations.

Daily sales through e-commerce grew 33.6% in the first quarter of 2024, representing 28.6% of total sales. This reflects the company's successful efforts to grow its digital sales channels.

The company's Digital Footprint, which includes FMI and e-commerce sales, reached 59.2% of total sales in Q1 2024, up from 54.1% in Q1 2023, highlighting the increasing importance of digital solutions.

The company increased total FTE employee headcount by 673, with a focus on growing sales personnel (398) and distribution and transportation personnel (158) to support growth initiatives.

SG&A expenses increased to 24.9% of net sales in Q1 2024 from 24.6% in Q1 2023, indicating some deleveraging despite efforts to control headcount growth. This is partly due to slower sales growth.

Operating income margin decreased to 20.6% in Q1 2024 from 21.2% in Q1 2023, reflecting the challenges in gross profit and SG&A expenses.

The company acknowledges exposure to fluctuations in import shipping costs, which can impact gross profit. However, a favorable $5.0 to $10.0 impact was seen in Q1 2024.

The company is exposed to commodity steel price fluctuations, though the impact was deemed immaterial in Q1 2024. The long supply chain can delay the impact of price changes.

The company is exposed to commodity energy price fluctuations, though the impact was deemed immaterial in Q1 2024. Energy prices were at or slightly below prior year levels.

The company experienced a divergence in the performance of fastener versus non-fastener product lines, with fasteners being more susceptible to weaker industrial production and pricing deceleration.

The company's manufacturing end market grew faster than non-manufacturing, reflecting the impact of key account customers and managed spend.

National account customers grew at a faster rate than non-national accounts, driven by sales through Onsite locations and larger key accounts.

The company continued to reduce inventory levels following the normalization of the supply chain, although the pace of reduction slowed in Q1 2024.

The company experienced favorable leverage of organizational/overhead costs, primarily due to greater utilization of domestic transportation resources.

Occupancy-related expenses were flat compared to Q1 2023, with lower depreciation expense offset by slightly higher facility expense.

The company's weighted FMI device signings increased by 14.0% year-over-year, with a goal of 26,000 to 28,000 MEUs for 2024, indicating continued investment in technology-driven solutions.

Sales through FMI technology grew by 7.6% year-over-year, reaching $796.7 million, demonstrating the increasing adoption of these solutions.

The company's Digital Footprint, combining FMI and e-commerce sales, reached 59.2% of total sales, reflecting the strategic focus on digital capabilities.

Net cash used in investing activities increased by $17.4 million in Q1 2024, driven by higher net capital expenditures, primarily for facility construction, upgrades, and vehicle spending.

The company returned $223.2 million to shareholders through dividends in Q1 2024, compared to $199.8 million in Q1 2023. No shares were repurchased in either period.

Total debt decreased to $200.0 million at the end of Q1 2024 from $400.0 million at the end of Q1 2023, reflecting a focus on reducing indebtedness.

The provided 10-Q filing does not include any specific information regarding ESG initiatives. This may indicate a lack of focus or disclosure on these topics in this report.

The effect of adverse weather in the first quarter of 2024 reduced sales by 35 to 55 basis points, a net negative impact of 10 to 30 basis points compared to 2023.

The company experienced modest deflation in its inventory, which could impact future pricing strategies and margins.

The company continues to see normalization in the supply chain, which is reflected in the reduction of inventory levels.