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Fastenal 3Q Results Top Expectations

Fastenal 3Q Results Top Expectations

WINONA, Minn. (AP) — Fastenal Co. (FAST) on Wednesday reported third-quarter net income of $197.6 million.

The Winona, Minnesota-based company said it had profit of 69 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The maker of industrial and construction fasteners posted revenue of $1.28 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.27 billion.

Fastenal shares have risen almost 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 8 percent. The stock has risen 22 percent in the last 12 months.

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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

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