Fastenal's Profit Falls as Income Tax Expense Increases
July 11 2019 - 7:44AM
Dow Jones News
By Allison Prang
Fastenal Co.'s (FAST) profit dropped in the second quarter as
net sales rose but the company reported an increase in income tax
expense.
The company reported $204.6 million in profit, down 3.1% from
the comparable quarter a year earlier. Earnings were 36 cents a
share, down from 37 cents a share. Analysts polled by Refinitiv
were expecting 37 cents a share.
Net sales rose 7.9% to $1.37 billion. Analysts were expecting
$1.38 billion.
Income tax expense rose 22% to $66.8 million. The company's cost
of sales also rose 12% and interest expense rose to $3.7 million,
up from $3.2 million.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 11, 2019 07:29 ET (11:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Fastenal (NASDAQ:FAST)
Historical Stock Chart
From Aug 2024 to Sep 2024
Fastenal (NASDAQ:FAST)
Historical Stock Chart
From Sep 2023 to Sep 2024