WINONA, Minn. (AP) — Fastenal Co. on Thursday reported a first-quarter profit of $194.1 million.
The Winona, Minnesota-based company said it had net income of 68 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The maker of industrial and construction fasteners posted revenue of $1.31 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.3 billion.
Fastenal shares have climbed 25 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 15 percent. The stock has climbed 20 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FAST at https://www.zacks.com/ap/FAST
Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Tagged with Biggest News, earnings, Fastenal, financial