Fastenal Company Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Fastenal Company (NASDAQ:FAST) will unveil its latest earnings on Thursday, October 13, 2011. Fastenal is a wholesale retailer of industrial and construction supplies in North America.

Fastenal Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 33 cents per share, a rise of 32% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 32 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 33 cents during the last month. Analysts are projecting profit to rise by 33.3% versus last year to $1.20.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of 32 cents per share against a mean estimate of net income of 30 cents, and the quarter before, the company exceeded forecasts by one cent with profit of 27 cents versus a mean estimate of net income of 26 cents.

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Wall St. Revenue Expectations: On average, analysts predict $722 million in revenue this quarter, a rise of 19.6% from the year ago quarter. Analysts are forecasting total revenue of $2.74 billion for the year, a rise of 20.7% from last year’s revenue of $2.27 billion.

Analyst Ratings: Analysts seem relatively indifferent about Fastenal Company with six of nine analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit rose 36.1% to $94.1 million (32 cents a share) from $69.2 million (24 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 22.9% to $701.7 million from $571.2 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 22.4%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 23.4% from the year earlier quarter.

The company has seen net income rise in three straight quarters. Net income rose 42% in the first quarter and 46.3% in the fourth quarter of the last fiscal year.

Competitors to Watch: Interline Brands, Inc. (NYSE:IBI), General Electric (NYSE:GE), Lawson Products, Inc. (NASDAQ:LAWS), W.W. Grainger, Inc. (NYSE:GWW), Caterpillar Inc. (NYSE:CAT), 3M Company (NYSE:MMM), and Honeywell International Inc. (NYSE:HON).

Stock Price Performance: During August 11, 2011 to October 7, 2011, the stock price had risen $1.84 (5.8%) from $31.71 to $33.55. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 20, 2011 when shares rose for eight-straight days, rising 13.3% (+$4.31) over that span. It saw one of its worst periods between September 27, 2011 and October 3, 2011 when shares fell for five-straight days, falling 8.4% (-$2.94) over that span. Shares are up $4.06 (+13.8%) year to date.

(Source: Xignite Financials)

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