Fastenal Companies Report Lower Than Expected Q4 Earnings

Fastenal Companies Report Lower Than Expected Q4 Earnings Click to Enlarge Photo: Mcgriff24 [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)]

(AP) - Fastenal Co. (FAST) on Friday reported fourth-quarter net income of $178.7 million.

On a per-share basis, the Winona, Minnesota-based company said it had profit of 31 cents.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The maker of industrial and construction fasteners posted revenue of $1.28 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $1.29 billion.

For the year, the company reported profit of $790.9 million, or $1.38 per share. Revenue was reported as $5.33 billion.

Fastenal shares have increased 1% since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 3%. The stock has increased 38% in the last 12 months.

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