Fastenal Earnings: Here’s Why Investors are Bidding Up Shares

Fastenal Co. (NASDAQ:FAST) reported double-digit profit growth and met Wall Street’s expectations, yet was slightly off the analyst revenue estimate. Investors are satisfied with the top-line and bottom-line growth today. Shares are up 1.60%.

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Fastenal Co. Earnings Cheat Sheet

Results: Net income increased 12.84% to $98.7 million (33 cents per diluted share) in the quarter versus a net gain of $87.47 million in the year-earlier quarter.

Revenue: Rose 8.51% to $757.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Fastenal Co. reported adjusted net income of 33 cents per share. By that measure, the company met the mean analyst estimate of $0.33. It missed the average revenue estimate of $758.62 million.