Fastenal Earnings: Here’s Why the Stock is Rising Now
Fastenal Co. (NASDAQ:FAST) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.89%.
Fastenal Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.82% to $0.37 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 4.87% to $806.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fastenal Co. reported adjusted EPS income of $0.37 per share. By that measure, the company missed the mean analyst estimate of $0.37. It missed the average revenue estimate of $815.1 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue increased 6.48% from $757.24 million in the previous quarter. EPS increased 12.12% from $0.33 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.43 to a profit $0.42. For the current year, the average estimate has moved down from a profit of $1.65 to a profit of $1.63 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)