Fastenal Profit Rises, Beats Expectations

Date : 10/11/2019 @ 11:31AM
Source : Dow Jones News
Stock : Fastenal Company (FAST)
Quote : 36.9  0.07 (0.19%) @ 1:00AM
After Hours
Last Trade
Last $ 36.90 ◊ 0.00 (0.00%)

Fastenal Profit Rises, Beats Expectations

Fastenal (NASDAQ:FAST)
Historical Stock Chart

2 Months : From Sep 2019 to Nov 2019

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By Patrick Thomas

 

Fastenal Co. (FAST) said its profit rose for its third quarter as sales grew about 8% from a year earlier.

The Winona, Minn.-based distributor of nuts, bolts, hand tools and other supplies reported a profit of $213.5 million, or 37 cents a share, compared with $197.6 million, or 34 cents a share, a year ago.

Analysts polled by FactSet were expecting earnings of 35 cents a share.

Sales rose to $1.38 billion from $1.28 billion a year earlier. Analysts had expected $1.38 billion of revenue in the quarter. The company said it was helped by higher unit sales. Sales of the company's fastener products grew 3% on a daily basis from a year earlier and sales of its non-fastener products increased 8% for the period.

Shares of the company rose about 4% during premarket trading.

 

Write to Patrick Thomas at patrick.thomas@wsj.com

 

(END) Dow Jones Newswires

October 11, 2019 07:16 ET (11:16 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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