30.30 0.00 (0.00%)
After hours: 5:06PM EDT
|Bid||30.21 x 3100|
|Ask||30.22 x 4000|
|Day's Range||30.04 - 30.54|
|52 Week Range||24.00 - 35.94|
|Beta (3Y Monthly)||1.61|
|PE Ratio (TTM)||22.78|
|Earnings Date||Oct 8, 2019 - Oct 14, 2019|
|Forward Dividend & Yield||0.88 (2.88%)|
|1y Target Est||32.63|
In early June, Fastenal announced a milestone after its active vending device count surpassed 100,000. The vending milestone has been quickly followed by another, this one pertaining to the company’s fast-growing Onsite program. The milestone Onsite is being set up within the Rocanville, Saskatchewan facility of Nutrien, the world’s largest provider of crop inputs, services, and solutions.
(Bloomberg Opinion) -- It may be a cliche, but it’s true that the stock market isn’t the economy. Values fluctuate based on a seemingly infinite number of variables, from the real (earnings) to the intangible (sentiment). So even though U.S. equities are near all-time highs, that isn’t necessarily a sign that all is well with corporate America.One sign that executives may not be all that confident in the outlook is the market for commercial paper. Even with a slight pullback the last two weeks, companies have been issuing these short-term corporate IOUs at pace not seen since 2011. The amount outstanding has jumped from $1.05 trillion at the start of the year to as much as $1.16 trillion earlier this month, according to the Federal Reserve. Although the amount eased back to $1.14 trillion in the latest weekly data that was released on Thursday, that’s still more than any time in the past eight years.Few markets are as opaque as the one for commercial paper, which typically matures anywhere from 15 days to nine months after it’s issued, and it’s never exactly clear why it expands or contracts. But it’s hard not to interpret this latest jump as a down-arrow for the economy. It’s a signal companies may not have the confidence to commit to long-term loans or issue bonds and instead want to wait out the uncertainty with shorter-term funding.Fed data on commercial and industrial loans back up that idea, with growth grinding to a halt in the second quarter, increasing by just 0.15% to $2.34 trillion. That’s the smallest increase since the end of 2017. The slowdown came even as the Fed’s most recent quarterly survey of senior loan officers showed that banks in aggregate eased some key terms for commercial and industrial loans to large and middle-market firms. So even though banks were willing to lend, companies had little appetite.“Manufacturing, trade and investment are weak all around the world,” Fed Chair Jerome Powell said last week in his semi-annual testimony to Congress.Recall that the Institute for Supply Management said on July 1 that its gauge of new orders for factories fell to 50, the lowest since December 2015 and equaling the dividing line between growth and contraction. And on Thursday, the Conference Board said its Leading Economic Index, which is intended to provide a sense of where the economy is headed, fell in June by the most since early 2016.And while it’s still early, the signals being sent by companies that have reported results so far this earnings season aren’t encouraging. Railroad operator CSX Corp. cut its revenue outlook for the year on Tuesday. Fastenal Co. and MSC Industrial Direct Co., which are – often viewed as an economic proxy because they sell factory-floor and construction site basics ranging from nuts and bolts to welding equipment – both noted a slowdown in demand in the most recent quarter.You can’t blame companies for being cautious. The U.S. is stuck in a trade war with China that seems to have no end, corporate earnings growth has stalled and the political divide in Washington is as great as ever. These aren’t things that can be fixed by a Fed interest-rate cut.To contact the author of this story: Robert Burgess at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Robert Burgess is an editor for Bloomberg Opinion. He is the former global executive editor in charge of financial markets for Bloomberg News. As managing editor, he led the company’s news coverage of credit markets during the global financial crisis.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The industrial supply companies' results had a lot to say about the outlook for the upcoming quarterly reports -- not all of it good.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
Fastenal Company (NASDAQ:FAST) reported its quarterly earnings results on Thursday, bringing in a profit and sales that were below what analysts called for, which sent the company's stock declining more than 2% today.The Winona, Minn.-based industrial supply business said that for its second quarter of its fiscal year, it amassed earnings of 36 cents per share, which was below its profit of 37 cents per share from the same period a year ago. This figure also missed the Wall Street consensus estimate of 36 cents per share.Fastenal Company's revenue for the period tallied up to $1.37 billion, which missed the Wall Street consensus estimate of $1.38 billion. It is also worth noting that the organization's sales growth was underwhelming, as it came in at 7.9% when compared to the year-ago quarter-this is the first three-month period in which sales have failed to gain at least 10% year-over-year in nine such periods.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis increase was caused in large part due to higher unit sales, which are linked to growth drivers. There were notable contributions from its industrial vending business, onsite locations and construction, among others. Fastenal's daily sales growth was also 7.9%, which missed the 12.2% and 13.1% gains from the first quarter of its 2019 and its year-ago quarter respectively.Daily sales gained 7% on a monthly basis in June, 9.5% in May and 12.5% in April, all below the same amounts in the company's year-ago months.FAST stock is down about 2.9% today. More From InvestorPlace * 7 A-Rated Stocks to Buy for the Rest of 2019 * 10 Best Stocks for 2019: A Volatile First Half * 7 Retail Stocks to Buy for the Second Half of 2019 * 10 Stocks to Sell for an Economic Slowdown The post Fastenal Company Earnings: FAST Stock Falls on Q2 Miss appeared first on InvestorPlace.
Delta’s quarterly payout will jump to 40.25 cents a share, up from 35 cents. Walgreens will boost its dividend by 4% to 45.75 cents, and Fastenal declared a dividend of 22 cents a share, up by half a cent.
Shares of Fastenal Co. dropped 4.6% toward a 6-month low, after the industrial and construction supplies distributor reported second-quarter earnings and revenue that missed expectations. Net earnings fell to $204.6 million, or 36 cents a share, from $211.2 million, or 37 cents a share, in the year-ago period, below analyst consensus expectations of 37 cents a share, according to FactSet. Sales rose 7.9% to $1.37 billion, just shy of the FactSet consensus of $1.38 billion. The company said economic activity slowed during the quarter relative to the sequential first quarter. Gross profit as a percentage of sales fell 180 basis points to 46.9%. "While we successfully raised prices as one element of our strategy to offset tariffs placed to date on products sourced from China, those increases were not sufficient to also counter general inflation in the marketplace," the company said in statement. The stock, which is on track for the lowest close since Jan. 24, has slumped 13% over the past three months, while the SPDR Industrial Select Sector ETF has edged up 0.4% and the S&P 500 has gained 3.7%.
Fastenal (FAST) reports unimpressive Q2 results, as higher unit sales and notable contributions from industrial vending, Onsite locations, and construction are offset by slower activity level.
The Dow Jones industrials led the early stock market rally Thursday. Blue chip UnitedHealth surged, but top growth stock Fastenal dove on earnings.
(Bloomberg Opinion) -- There’s no denying the slowdown in U.S. manufacturing now.Fastenal Co., a distributor of factory odds and ends, reported second-quarter results that disappointed on almost every level, even in a market that was primed for disappointments. Earnings per share missed analysts’ estimates; it was the biggest quarterly gross margin shortfall in more than five years; and daily sales growth for the quarter was the weakest since the first period in 2017. Analysts had hoped that a slower April was just a temporary blip, and they were encouraged in that thinking by a rebound in Fastenal’s May sales data. It now appears the downward trend is more permanent and marked.Fastenal is often considered a harbinger of things to come for the larger multi-industrial companies it counts as customers. That perception has been challenged by some of the company’s more idiosyncratic circumstances, such as its investments in a network of vending machines and on-site inventory management services as it adapts to Amazon.com Inc.’s foray into industrial distribution. But while the growth benefits of that business-model reinvention (and the irksome margin shrinkage that comes along with it) were present in Fastenal’s second-quarter results, what stood out the most were good old-fashioned macroeconomic headwinds of the kind we’ve been seeing in recent data.The Institute for Supply Management’s gauge of new U.S. factory orders fell to 50 in June, the lowest since December 2015 and a level that indicates zero growth. The JPMorgan Global Manufacturing Purchasing Managers Index fell to 49.4 in June, the second straight month of contraction. The implications for earnings aren’t heartening. While the first quarter was heavy on mixed-bag numbers for industrial companies as a whole – with ongoing strength in the aerospace industry but acute struggles in anything related to the automotive and electronics sectors – the upcoming batch of second-quarter results is likely to be more uniform, and not in a way investors are going to like. Even the aerospace sector is looking less robust – or at least less worthy of inflated valuations – after a downshift in passenger traffic growth. Fastenal’s weak results echo similarly lackluster numbers from fellow distributor MSC Industrial Direct Co. on Wednesday. Sales missed analysts’ estimates for MSC’s fiscal third-quarter, with Chief Executive Officer Erik Gershwind calling out a “step-down” in demand since April and an uncertain pricing environment “due to the overhang of tariffs and trade.”Distributors like Fastenal and MSC have historically been skilled at passing on price increases to their customers, but both Fastenal and MSC appear to be struggling to overcome both the impact of tit-for-tat tariffs in the U.S.-China trade war and the typical cost inflation that comes later in the economic cycle. Fastenal noted that it raised its prices at the end of 2018 and early 2019, but that wasn’t enough. The company is taking additional actions to counter broader cost pressures and the increased tariffs slapped on $200 billion of China-sourced products by President Donald Trump in May. With little real clarity on the trade tensions, the question is whether the demand is strong enough to support yet another round of price increases. The numbers released by Fastenal and MSC this week would seem to suggest otherwise.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(FAST)—one of the first industrial companies to report earnings and a valuable source of insights about the health of U.S. manufacturing—turned in lower sales and profits than Wall Street analysts were expecting. Falling short of earnings estimates is never a good thing. Fastenal (ticker: FAST) highlighted double-digit percentage-point growth in its vending, On-Site and national account business, but overall activity in its end markets slowed.
Fastenal (FAST) delivered earnings and revenue surprises of -2.70% and -0.84%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Fastenal (NASDAQ: FAST) reported second-quarter earnings of 36 cents per share, which missed the analyst consensus estimate of 37 cents. The company reported quarterly sales of $1.368 billion, which missed the analyst consensus estimate of $1.38 billion. Fastenal explained the most significant factors behind the decline in gross profit percentage in the period were the impacts of customer and product mix and net inflation on product margins, the latter had a larger negative impact on margin than in the first quarter.
Fastenal Company , a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter ended June 30, 2019.
Higher tariffs on goods produced in China and then imported to the U.S. were a key factor in Fastenal's lower-than-expected earnings.
Investing.com - Fastenal (NASDAQ:FAST) reported second quarter earnings that missed analysts' expectations on Thursday and revenue that fell short of forecasts.
Fastenal Company reported its board of directors declared a dividend of $0.22 per share to be paid in cash on August 22, 2019 to shareholders of record at the close of business on July 25, 2019.