S&P 500 (NYSE:SPY) component Fastenal Company (NASDAQ:FAST) reported higher profit for the second quarter as revenue showed growth. Fastenal Co. is a wholesale retailer of industrial and construction supplies in North America.
Fastenal Company Earnings Cheat Sheet for the Second Quarter
Results: Net income for the general building materials company rose to $94.1 million (32 cents per share) vs. $69.2 million (24 cents per share) in the same quarter a year earlier. This marks a rise of 36.1% from the year earlier quarter.
Revenue: Rose 22.9% to $701.7 million from the year earlier quarter.
Actual vs. Wall St. Expectations: FAST topped the mean estimate of 30 cents per share. Estimates ranged from 29 cents per share to 31 cents per share. Analysts were expecting revenue of $688.6 million.
Key Stats: The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 22%, 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 now seen net income rise in three straight quarters. In the first quarter, net income rose 42% and in the fourth quarter of the last fiscal year, the figure rose 46.3%.
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).
(Source: Xignite Financials)