Fastenal Companies Post Earnings

Fastenal Companies Post Earnings Click to Enlarge Photo: Mcgriff24 [CC BY-SA 4.0 (]

(AP) - Fastenal Co. (FAST) on Thursday reported second-quarter net income of $204.6 million.

The Winona, Minnesota-based company said it had profit of 36 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The maker of industrial and construction fasteners posted revenue of $1.37 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $1.38 billion.

Fastenal shares have increased 20% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. The stock has risen 26% in the last 12 months.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Leave a comment