Fastenal (FAST) Beats Q2 Earnings & Revenue Estimates
Fastenal Company FAST is a national wholesale distributor of industrial and construction supplies. It distributes its products through company-owned stores mostly located in North America. The company has gradually grown from a fastener distributor to a full-line industrial supplier.
Investors should note that the recent earnings estimate for FAST has been moving upward in the last 30 days. However, Fastenal has delivered negative earnings surprises in two of the last four quarters, making an average negative surprise of 0.80%.
Currently, FAST has a Zacks Rank #2 (Buy), but that could definitely change following Fastenal’s earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: FAST reported EPS of 52 cents per share, beating the Zacks Consensus Estimate of 50 cents.
Fastenal Company Price and EPS Surprise
Fastenal Company Price and EPS Surprise | Fastenal Company Quote
Revenues: FAST reported revenues of $1,121.5 million, which surpassed our consensus estimate of $1,110 million.
Key Stats to Note: Fastenal’s average daily sales increased 10.6% in the quarter.
Stock Price Movement: Shares rose 3.2% in pre-market trading, at the time of writing.
Check back later for our full write up on this FAST earnings report later!
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