Fastenal Posts Strong Second Quarter Results

Fastenal Posts Strong Second Quarter Results

WINONA, Minn. (AP) _ Fastenal Co. (FAST) on Wednesday reported second-quarter net income of $211.2 million.

On a per-share basis, the Winona, Minnesota-based company said it had profit of 74 cents.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.

The maker of industrial and construction fasteners posted revenue of $1.27 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.26 billion.

Fastenal shares have declined 9.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 4.5 percent. The stock has climbed 13 percent in the last 12 months.

The full report can be viewed here.


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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